The financial statement of Rietumu Banka and the Group for January–March 2025 has been published.
According to the statement, Rietumu Banka’s profit before enterprise income tax over the first three months of this year amounted to 1.9 million euros. As of 31.03.2025, the Bank’s assets were 1.3 billion euros, customer deposits were 893 million euros, while capital and reserves equalled 355 million euros.
The bank continues implementing its strategy of supporting Latvian companies by providing financing for business projects that are beneficial to the national economy. The overall loan portfolio of Rietumu Banka amounted to 654 million euros as of 31.03.2025.
In Q1, Rietumu Banka published information about several large lending transactions, also involving commercial and residential real estate. The bank has granted a loan of 32.5 million euros supposed for modernization and development of multifunctional building in the centre of Riga, where Stockmann department store and Forum Cinemas multiplex film and entertainment theatre are located. More than 8 million euros was provided for acquisition of 11 RIMI shopping centres in various regions of Latvia. Another batch of funding, amounting to 4.35 million euros, was granted for the third phase of modern multi-apartment complex “Deglava Gleznotāju rezidences”. Whereas a loan of 3.6 million euros was provided for development of modern and sustainable business centre “Versum” located on Ulbrokas Street in Riga.
“We continue supporting the clients who wish to expand their operations and carry out projects in different sectors, including real estate area, which has significant growth potential. Many Latvian companies turn to us when planning their development in consideration of long-term economic growth expectations. Being the largest local bank, we have substantial financial resources and wide opportunities of performing high-quality expert evaluation. We are glad to provide financing for valuable projects, thus contributing to the development of both business environment and the country’s economy in general,” said Jeļena Buraja, the Chairman of the Board of Rietumu Banka.
To support advancement of thoughtful innovations, Rietumu Banka became a general sponsor and actively participated in the 7th International Economic Forum, organized by the Latvian Academy of Sciences, which was held in Riga in March. Organized in cooperation with the Ministry of Economics of the Republic of Latvia, the forum focused on analysing the interplay between innovation and ethical responsibility in the rapidly evolving digital economy.
Rietumu Banka’s profitability ratios remain
high: return on equity (ROE) is equal to 3.32% and return on assets (ROA) – to
0.85%. The bank’s capital adequacy ratio, which reflects the company’s
financial stability, is 24.40%, and liquidity coverage ratio is 296.13%, which
is several times above the requirement set by the regulator (100%).
The financial statement is published on our website.
Please note that starting from 21 May interest rates on several deposits in euro have been changed.