The Q3 2022 financial statement of Rietumu Bank and Rietumu Group has been published.
The bank net profit on 30.09.2022 reached 15.4 million euros, assets were 1.6 billion euros, customer deposits 1 billion euros, capital and reserves 359 million euros.
Bank efficiency indicators remain on the high level. Return on equity (ROE) is 6.03%, return on assets (ROA) 1.34%, capital adequacy ratio 26.12%, liquidity coverage ratio 290.83% (the standard set by the regulator is 100%).
During the
current year Rietumu continued its strategy focusing on services for major
enterprises with private and state capital, as well as financing and supporting
ambitious business projects in Latvia and the Baltics. The bank loan portfolio
compared with Q2 results increased by 15 million euros (by 2.3.%) and by the
end of September reached 657 million euros.
Significant work on anti-money laundering procedures further development as well as ESG (Environmental, social, and governance) essential guidelines implementation in corporate management and such spheres of high importance as social and environmental responsibility has been continued.
Jelena
Buraja, Chairman of the Board of Rietumu Bank, made a report at ACAMS (Association
of Certified Anti-Money Laundering Specialists) forum in New York dedicated to
preventing financial crime risks. In her speech Jelena Buraja shared Rietumu Bank’s experience in this
field, gained during recent national financial sector transformation period.
Jelena Buraja also held a number of meetings with representatives of US
government and banking structures, dedicated to further development of Rietumu
Bank’s relations with American partners.
Commenting on the third quarter results, Jelena Buraja
noted: «Although global geopolitical developments remain challenging, we manage
to accomplish our goals successfully. The bank continues to open accounts for
new European clients, and we are glad to see that most of our customers have
adapted to current reality. Rietumu shows good financial performance,
implements the important ESG principles, and our achievements in anti-money
laundering sphere have been recognized by international experts. All of the
above indicates that Rietumu is in a phase of sustainable development that is
going to continue».
The full version of the financial statement can be found on our website.
Starting 1 November 2022, Sandris Straume has joined Rietumu Bank management team as a member of the Board and Chief Risk Officer. He has more than 20-year experience in senior positions in the field of risk management and compliance control in various Latvian and international credit establishments and financial institutions.