Rietumu Bank Operating Performance in the first half of the year

The Q2 2022 financial statement of Rietumu Bank and Rietumu Group has been published.

The bank assets were 1.5 billion euros, customer deposits 1 billion euros, loan portfolio 617 million euros, capital and reserves 345 million euros.

Rietumu Bank net profit in the first half of the year was 1.8 million euros, net profit of Rietumu Group reached 9.3 million euros.

Bank liquidity coverage ratio (LCR) traditionally keeps on a high level 352,00%, several times increasing the minimum standard ratio set by the regulator (100%). Capital adequacy ratio is 26,22%.

Chairman of the Executive Board of Rietumu Bank Jelena Buraja notes: «The downside effect on EU and Latvia economy caused by geopolitical factors increased during the second quarter of the year. Naturally, it impacted business environment for our clients as well. At the same time assessments of the situation and decisions made by Rietumu Bank in February and March, including additional provisions on some of the loans and correct sanction compliance have proven right. The bank continues sustainable operations and generates profit.

Due to our team’s coherent work the number of the bank clients have been increased. We continue to provide them all the necessary support, supply financing for business development and adapting in current circumstances, consider new credit and investment projects including those aimed on the future past crisis period.

Although in the near-term outlook objective hurdles are possibly expected, crucial is the fact that both we and our clients are now financially, strategically, morally ready for it. That is why I am sure we all are up to new achievements and success».

The full version of the financial statement can be found on our website.