The Q3 2021 financial statement of Rietumu Bank and Rietumu Group has been published.
According to the statement, the bank’s net profit at the end of September was 21.8 million euros, showing 20% growth as compared with the results of the same period last year. Profit of the bank increased by 4.7 million euros in Q3 2021.
Profit of Rietumu Group for 2021 reached 23 million euros – twice as much as at the end of Q3 2020.
The main financial positions and performance indicators of Rietumu Bank remain at a consistently high level. The bank assets are amounted 1.5 billion euros, customer deposits are 1.1 billion euros, and shareholder’s equity – 344 million euros. The return on equity (ROE) is 8.65%, return on assets (ROA) is 1.87%, liquidity coverage ratio (LCR) is 586.01% (the minimum standard ratio being 100%).
The bank's loan portfolio is growing: it have reached 655 million euros, which is 8% higher than as on 31.12.2020. Loans grew by more than 40 million euros in Q3 2021.
Chairperson of the Board of Rietumu Bank Jelena Buraja, while commenting on the results, said with satisfaction: “Experience tells us that business potential and opportunities are not only important to identify and adequately assess in a timely manner, but also to put them into practice in the right way. The bank is now actively working to create the conditions for growth and dynamic development in the new, post-crisis period. This work, in the broadest sense, is primarily concerned with banking technology, customer service, credit and investment”.
