27 November Bank news

The profit of Reģionālā investīciju banka as at the end of the third quarter – EUR 1.96M

The profit of AS “Reģionālā investīciju banka” (hereinafter – ‘RIB’) reached EUR 1.96M over the first nine months of this year. Bank’s assets amounted to EUR 236.7M by the end of the third quarter.
“The third quarter has been the most successful for the Bank’s operations this year, showing that the new strategy of the Bank focused on the provision of services to Latvian entrepreneurs is correct and its implementation is picking up the speed. Despite the uncertainty caused by the pandemic, we are actively working on new lending projects, and since the beginning of 2020, the Bank has issued loans to the domestic Latvian business for 20 million euro, of which 11 million was issued exactly in the third quarter. Such business results are particularly important now, as they form the basis for the further growth in the upcoming year, when we expect a breakthrough of the economy and business after the pandemic crisis. We are in a strong position to credit the recovery of Latvian business”, Aleksandrs Jakovļevs, Chairman of the Board at RIB, tells.
At the end of the third quarter, the first-level capital adequacy indicator of RIB was 22.60, whereas the overall capital indicator was 24.28, exceeding the capital adequacy level set for the Bank by the FCMC more than twice.
The liquidity coverage indicator of the Bank reached 180.28% by the end of the third quarter, significantly exceeding the 100% liquidity coverage requirement stipulated by normative acts. The capital and reserves of the Bank increased up to EUR 37.2M.
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.