Aizkraukles banka has announced the results of operations for the first half of the year

July 7, 2000 / Banking

JSC “Aizkraukles banka” revenues for the first half of the year 2000 totaled 2,36 million Lats. This amount represents 84,6% of the income planned for this year. The Bank has been preliminary planning to complete this year with the income of 2,79 million Lats.

In June 2000, JSC “Aizkraukles banka” income amounted to 821 thousand Lats.

In comparison with the beginning of the year, the assets of the Bank have increased by 3,21 million Lats or by 4,9%. As at June 30, 2000, the Bank’s assets totaled 68,36 million Lats.

The loans issued by the Bank reached 11,41 million Lats, that is by 20,9% or 1,97 million Lats more than at the beginning of the year.

As at the end of June, the amount of the deposits attracted consisted in 54,92 million Lats. This amount is by 2,0% or 1,1 million Lats more than at the beginning of the year.

As at the June, 2000, capital and reserves of the Bank amounted to 6,92 million Lats.

Comparing with the year 1999, the Bank is planning to increase its assets by 23,6%, loans and advances issued by 89,4%, deposits attracted by 14,3%, capital and reserves by 61,3%.

In the first half of the year the central office of the Bank has been transferred from Aizkraukle to Riga, 23 Elizabetes Street. That became the reason of the further structural re-organization of the Bank and a consequent elaboration of a new strategy of development.

In June, 2000, the Bank introduced a new system of settlement cards servicing TRANSMASTER, which enables to increase the range of services offered, improve the quality of Customers’ servicing and more flexible use cards products in all its variety. At present the Bank offers its Customers an opportunity to use such cards as Eurocard/ MasterCard, Maestro, American Express; and in September the Bank is planning to issue Visa and Visa Electron.

At the end of June, the first JSC “Aizkraukles banka” ATM was installed in the Bank’s branch in Aizkraukle. Till the end of the year the Bank is planning to set up to ten ATM in Riga.

The last months have brought a systematic growth of the customer base. In order to ensure more complete satisfaction of the Customers’ needs and more effective activity of the Bank it has been planned to open a new Clearing Unit in Riga, Krasta Street, in the second half of the year.

At the present moment the audit firm “Deloitte & Touche Tohmatsu” is conducting its audit of the Bank for the period of 01.01.2000 — 30.06.2000, the results of which will be approved at the Meeting of JSC “Aizkraukles banka” Shareholders in August 11, 2000.