ABLV Bank Profit in First Quarter Exceeds LVL 5 Million
OREANDA-NEWS. June 4,
Financial indicators as at 31 March 2012
Net profit of ABLV Bank amounted to LVL 5.3 million (EUR 7.5 million). Whereas in Q1 2011 it was equal to LVL 4.0 million (EUR 5.6 million).
Operating income before allowances for credit losses totalled LVL 15.2 million (EUR 21.6 million). Compared with Q1 2011, operating income has increased by 14,3%.
Total amount of deposits with ABLV Bank reached LVL 1.66 billion (EUR 2.36 billion). Since the beginning of the year, the amount of deposits has grown by LVL 58.0 million (EUR 82.5 million), i.e. 3.6%.
As at the end of March, the amount of subordinated deposits totalled LVL 21.6 million (EUR 30.7 million), but the amount of issued debt securities reached LVL 55.1 million (EUR 78.4 million).
As at 31 March 2012, the amount of the bank’s assets equalled LVL 1.89 billion (EUR 2.69 billion). Since the beginning of the year, the amount of assets has grown by 5.4%, the total assets increasing by LVL 96.7 million (EUR 137.7 million).
The bank’s gross loan portfolio equalled LVL 543.3 million (EUR 773.9 million), as at the end of March.
The bank’s capital and reserves amounted to LVL 90.8 million (EUR 129.1 million).
As at 31 March 2012, the bank’s capital adequacy ratio was 14.18%, whereas liquidity equalled 70.99%.
ROE reached 22.65%, and ROA — 1.08%, as at 31 March 2012.
“Our major task for 2012 is expansion of operations and increase of profitability. We can conclude with confidence that results of the first quarter of 2012 allege successful implementation of these tasks. Given growing amount of work, we will create about 70 new jobs, and 60 of those — in
ABLV Bank is the largest independent private bank in