2 June 2020

AS “Reģionālā investīciju banka” profit for the first quarter reached EUR 143.000

AS “Reģionālā investīciju banka” (hereinafter – ‘RIB’) closed this year’s first quarter with the profit of EUR 143.415, whereas its assets amounted to EUR 285.54M. At the end of the first quarter, the first-level capital adequacy indicator of the Bank was 22.13, whereas the overall capital indicator was 25.60, exceeding the capital adequacy level set for the Bank by the FCMC more than twice.
“This year demonstrated a stable start for the Bank; however, more rapid development was affected by the spread of coronavirus, forcing our customers to change and temporarily postpone their growth plans. To support RIB customers under difficult economic circumstances, the Bank has joined the Finance Latvia Association Moratorium on loan principal repayment for both private individuals and legal entities. The Bank holds an explicitly strong capital position enabling it to continue the implementation of the new business model focused on lending to Latvian companies after the pandemic is restricted”, Aleksandrs Jakovlevs, Chairman of the RIB Board, said.
The liquidity coverage indicator of the Bank reached 232.04% by the end of the first quarter, significantly exceeding the 100% liquidity coverage requirement stipulated by normative acts. The capital and reserves of the Bank amounted to EUR 35.57M.
Last year, RIB had successfully implemented the transformation of its business model in accordance with the Bank Development Strategy 2019-2022, which stipulates shifting the focus from the universal bank’s activity to lending and provision of financial services to Latvian small and medium enterprises.