Aizkraukles banka has generalited the financial results for the first six months of 1999

July 15, 1999 / Banking

The profit of JSC Aizkraukles Bank for the first six months of 1999 was 665 000LVL. This represents 41% of planned annual profit. The Bank estimates that 1999 profit will be 1,63 million lats. Following to prognoses, 40% from this sum the Bank has to earn in the first six months of 1999, and 60% — in the second six months.

The Bank’s profit in June of 1999 was 85 thousands lats.

The amount of the Bank’s assets increased by 5,98 millions lats or 11,6% comparing with the beginning of 1999. The Bank’s total assets as at June 30, 1999 were 51,41 million lats.

As of June 30, 1999, the loan portfolio was equal to 8,57 million lats. This amount is 69% or 3,5 million lats more than in the beginning of the year.

As of June 30, 1999, deposits totalled to 34,71 million lats. This amount is 6,6% or 2,15 million lats more than in the beginning of the year.

In the second quarter of 1999 the clients’ activity of JSC “Aizkraukles Banka” significantly intensified. JSC ’Aizkraukles Banka’ is one of the biggest participants of the “Banku Servisa Centrs” SIA, the payment cards processing center in Riga.

As of June 30, 1999 Bank’s equity capital was equal to 5,8 million lats.

The previous year auditors company “Arthur Andersen” will conduct the examination of financial statements of JSC “Aizkraukles Banka” for this year as well.