ABLV Bank says LVL 10.9 millions in 9-month profit

Latvia business: ABLV Bank says LVL 10.9 millions in 9-month profit

ABLV bank

The bank's operating income before allowances for credit losses totaled LVL 48.7 million at the end of September, writes LETA/Nozare.lv.

The total amount of investments at ABLV Bank reached LVL 1.87 billion. Since the beginning of the year, the amount of deposits has grown 16.4%.

As of September 30, the bank’s assets amounted to LVL 2.09 billion.

During the first nine months of the year, the bank’s loan portfolio increased to LVL 476.2 million. ABLV Bank notes that the bank's approach to crediting remains highly conservative – its loan portfolio constitutes 22.8% of the bank’s total assets.

Necessary allowances made under the loan portfolio and other assets amounted to LVL 56.4 million.

The bank’s capital and reserves amounted to LVL 100.9 million. As of December 31, 2011, the bank’s capital and reserves stood at LVL 90.1 million.

As of September 30, 2012, the bank’s capital adequacy ratio was 15.08%, whereas liquidity equaled 66.22%. ROE reached 15.01%, ROA – 0.73%.

ABLV Bank group also includes ABLV Capital Markets, ABLV Asset Management, ABLV Transform Partnership, ABLV Consulting Services, ABLV Corporate Services, New Hanza City and others.

ABLV group has offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku and Tashkent.

Needles to say banking is one of best investment in economics. If you're thinking of investing in Latvia then this is a green light to do it!

Author: Artis Zelmenis