Aizkraukles Banka financial performance in May 2009

June 16, 2009 / Banking

The Aizkraukles Banka financial results as of 31 May 2009 have been summarized.

As of 31 May 2009, the value of the bank assets was equal to LVL 1.044 billion.

The amount of attracted deposits reached LVL 796.9 million. Since the beginning of the year, the deposits have grown by 12.3%, i.e. LVL 87.2 million.

Since the beginning of the year, the loan portfolio has decreased by LVL 30.2 million to amount to LVL 616.8 million.

As of 31 May, the bank capital adequacy was equal to 14.98%, and liquidity — to 47.53%, exceeding the FCMC minimum requirements — 8% for capital adequacy and 30% for liquidity.

The amounts held in correspondent accounts, central bank, and due under other claims to banks total LVL 263.7 million.

At the beginning of May, Aizkraukles Banka placed a deposit of EUR 50 million with DZ Bank AG. The deposited funds will be used for repaying the remaining syndicated loan (EUR 85 million). The term of loan repayment is July 7. The syndicated loan will not be prolonged.

JSC “Aizkraukles banka” is 100% owned by Latvian shareholders. The bank’s majority shareholders are Oleg Fil — 47.04% shares, Ernest Bernis and Nika Berne — 47.04% shares. The Aizkraukles Banka aim is to become the leading independent private bank in the Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer. Aizkraukles Banka Group includes IPAS AB.LV Asset Management, IBAS AB.LV Capital Markets and other companies.

Additional information:
Ilmars Jargans
Aizkraukles Banka
+ 371 6777 5296