OREANDA-NEWS. During the third-quarter of 2013, NORVIK BANKA retained its position in the market by ensuring profitability and proving itself as a reliable partner, providing highly professional services to its customers. The bank ended the third quarter with a net profit of LVL 155 thousand demonstrating positive performance over nine months.

In comparison with the beginning of the year, the Bank's assets increased by 5.8%. As a result of increase of the liquid assets in the structure of the Bank's balance sheet, the liquidity ratio grew by 6.95 basis points and reached 46.74%. Simultaneously capital adequacy ratio of NORVIK BANKA is 8.79%.

Deposits of the Bank increased by 8.5% compared to the beginning of the year. At the end of September the Bank repaid the subordinated loan in the amount of EUR 7.3 million to Raiffeisen Bank International.

NORVIK BANKA successfully continues management of properties overtaken during the period of 2011 - 2012 and delegated to the Bank's subsidiary Norvik IPS.

Marija Stepina, member of the board of NORVIK BANKA, commented on the results of the three quarters of the year: “Following current year plans, the return on commission fees increased by 8% compared to respective period a year ago. At the same time, the Bank retained to be well competitive with services provided. Simultaneously the proportion of related to credit risk services decreased.”

NORVIK BANKA's branch network is the most extensive in Latvia, with 80 domestic branches. The Bank has been operating on the Latvian market for 21 years, and is considered as one of the oldest credit institutions in Latvia, taking the 9th place of the biggest Latvian banks in terms of volume of assets.