| Emitents | Akciju komercbanka ''Baltikums'', AS |
| Veids | Būtiski notikumi |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2009-09-22 09:53:37 |
| Versijas komentārs | |
| Teksts |
The international auditor company KPMG Baltic has performed audit of concern AS “Akciju komercbanka “Baltikums”” (Baltikums Banka). In the first half of 2009 sustainable development of Baltikums Banka concern continued, which resulted in growth of the key performance indicators and in consolidation of its position in the chosen niches. Conservative approach to risk management, persistency in
the strategic objectives, and establishment of long-term relations
with customers – these are the three pillars of success of the
dynamically growing and modern Baltikums Banka.
The bank has been successfully developing its regional
network for nine years. At present, the bank successfully functions
in Riga, Limassol, Kiev, and Almaty, as well as has representation
in Russia and Azerbaijan via its parent company Baltikums Bankas
Grupa. Baltikums Banka and its foreign branches employ 150
international professionals.
The most important event of the first half of the year
was opening and successful operations of the bank’s branch in
Cyprus. Baltikums Banka that is a counterpart of the concern has
successfully redeemed the second issue bonds and keeps gradually
redeeming public bonds earlier issued by the bank from the
financial market on its own initiative.
Financial results
The profit of Baltikums Banka concern for the first half
of the year amounted to LVL 1.67 million. As of 30 June this year,
the concern’s assets made up LVL 103.8 million. At the end of June,
Baltikums Banka concern issued LVL 27.2 million in loans and
attracted deposits worth LVL 74.76 million.
Such results became possible in 2009, when the world and
Latvia have been shaken by an unprecedented crisis and instability,
thanks to the Bank’s well-thought-out and precise strategy and its
professional team. Despite a decrease in the assets resulting from
a drop in the bank customers’ turnover Baltikums Banka is one of
the Latvian 10 banks that continue operating with profit, the
number of opened customer accounts keeps growing, efficiency of
operations increases, funds are invested in information
technologies and expansion of the bank’s international branch. The
concern sees prospects in conquering new markets as competition
drops during the crisis.
Baltikums Banka still maintains very high liquidity and
balance structure indicators and the high capital adequacy more
than twice exceeds that required by supervisory authorities. The
capital adequacy index amounted to 16.44% (requirements of the
Financial and Capital Market Commission – at least
8%).
Major achievements
Currently, the Baltikums Banka focuses on three
basic trends of its operations: Private
Banking, Corporate Banking and Wealth
Management.
During the first 6 months of 2009, Baltikums Banka has
introduced an entity of private bankers who facilitate further
development of Private Banking services successfully launched and
set as a priority earlier. Now Baltikums Banka employs a new team
of sales and customer service professionals and the estimated sale
of the bank’s investment products and services has brought its
first fruit.
This year, Baltikums Banka has successfully redeemed the
second issue bonds and keeps gradually redeeming public bonds
earlier issued by the bank from the financial market on its own
initiative.
The bank’s interest in redemption of its own bonds
results from the following factors. First, Baltikums Banka has a
considerable amount of free funds. Second, these bonds are traded
on the market with a significant discount to the nominal;
therefore, Baltikums Banka redeems the bonds prematurely and thus
minimises its interest expenses. The bank also believes that by
ensuring market liquidity of its bonds it contributes to
maintaining good business relations with investors both now and in
the future. The bank’s opinion is that it is particularly important
these days when there is certain instability and nervousness on the
markets.
Baltikums Banka has obtained a permit of the Cyprus
Central Bank for offering its services in Cyprus according to the
principles of free competition. Now customers of the Cyprus branch
that successfully launched its operations in the beginning of the
year will be able to enjoy a full range of products, services, and
solutions in regular banking service, in Corporate Banking, Private
Banking and Investment Banking, in payment card programmes, as well
as in comprehensive operations in financial markets with no
restrictions.
The concern constantly improves its business models
introducing latest technologies and methodology. However, our
philosophy and business approach remain unchanged. Baltikums Banka
is an independent private bank and a family business. The concern
has Latvian origin and its objective is to join leading independent
private banks in the European Union by providing modern and sought
after banking products, services and solutions aimed at
facilitating business and at keeping and growing wealth of our
customers.
Baltikums Banka is famous for its consequent approach to
establishing and maintaining mutually beneficial relations with its
customers. Paying close attention to research and new developments,
we create products, services, and solutions that are sought after,
first of all, because they are created in our customers’ interests
and represent our response to the customers’ needs and desires.
Baltikums Banka was established as a commercial bank and its
entrepreneur’s spirit is close and familiar to customers: private
entrepreneurs, high net worth individuals, and professional
investors.
Besides, the bank’s objective is not only provide its
customers with professional and quality service but also to join
forces in order to create environment for business, capital,
assets, and risks management, to give our customers, in addition to
financial benefits, more stability and confidence regarding their,
their families’, and their partners’ future. Here we see our
responsibility as private bankers.
Our values remain unchanged as before: independence and
objective approach, security, responsibility, and comprehensive
protection of our customer’s interests. We are grateful to all our
customers for cooperation and trust in these complicated times and
look forward to continuing our successful cooperation in the
future.
Subsidiaries
Baltikums Banka concern includes “ASIPS Baltikums Asset
Management”, SIA „Baltikums Līzings”, SIA „Baltikums Direct”, SIA
„Konsulting Invest”, ООО «Балтикумс Траст» (Kiev), ООО «Балтикумс
Траст» (St.Petersburg), OOO „Baltikums Trast” (Moscow) un AAS
„Baltikums”. The aggregate profit of the companies comprising the
concern made up LVL 770 thousand, the profit of the bank alone –
LVL 901 thousand, the total profit of the concern – LVL 1.67
million.
About Baltikums Banka concern
Baltikums Banka is a counterpart of the Latvian banking
group Baltikums Bankas Grupa and is by 100% owned by family
holdings of the group’s shareholders. The objective of Baltikums
Banka is to join the European leading independent private banks by
providing modern and sought-after products, services, and solutions
for business development, for keeping and enhancing wealth of our
customers.
Uldis Zandars
AS „Akciju komercbanka „Baltikums””
Deputy of Head of the Product Development and Marketing
Department
Tel.: +371 67 031 408, +371 29 206 536
E-mail: uldis.zandars@baltikums.eu
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