The Q1 2023 financial statement of Rietumu Bank and Rietumu Group has been published.
Rietumu Bank net profit in the first quarter was 3.7 million euros.
The bank assets on 31.03.2023 were 1.3 billion euros, customer deposits 833 million euros, capital and reserves 342 million euros.
Loan portfolio increased in the first quarter by 20 million euros and reached 624 million euros.
Commenting on the results, Chairman of the Executive Board of Rietumu Bank Jeļena Buraja noted: “We continue our previously announced strategy implementation and are working actively, supporting and financing enterprises in the Baltics and EU. Rietumu Bank services new clients and provides a growing number of new loans to promising businesses in various economy sectors, strategically important for Latvia.
Thus, we finance solar panel parks that allows to make transition to renewable energy sources and be independent from imported energy, delivered before the war from Russia. We and our clients have extensive plans and will achieve new goals together!”
Return on equity (ROE) after tax was 4.30%, return on assets (ROA) 1.12%, capital adequacy ratio 23.99%, liquidity coverage ratio 189.40.
The full version of the financial statement can be found on
our website.
