The Management of Aizkraukles banka has announced the outstanding results of its activity in 2000

January 8, 2001 / Banking

The main aims of the Bank’s activities during 2000 were not only achieved but exceeded the forecasted results in terms of all the important criteria.

The basic indexes of the Bank’s activity in 2000 are the evidence of the rapid growth in comparison with 1999. Aizkraukles banka revenue in 2000 amounted to 5,4 million Lats, which is twice exceeded the preliminarily planned figure.

In 2000 Aizkraukles banka assets increased by 17 million Lats having reached 83 million Lats and thus exceeded the planned growth of assets by 25%.

At the end of the year 2000 the volume of deposits attracted reached 70,3 million Lats, that is 10 million or 17% growth comparing with the end of 1999.

Compared to 1999, Aizkraukles banka loan portfolio increased by 90% and reached 19 million Lats, and at the same time maintained a stable high quality level. 91% of the Bank’s loan portfolio are made up by loans issued to residents, including 45% to private persons and 55% to corporate entities. The considerable increase of the loan portfolio was mainly due to the increase in loans to private persons, which volume in comparison with 1999 increased by 2,6 times and amounted to 7,8 million Lats. The volume of loans issued to corporate entities increased by 58% and reached 11,2 million Lats.

At the end of 2000 Aizkraukles banka ROA totaled 8,2% and ROE made up 78%, that is a stable ground of the Bank’s further development.

It is necessary to emphasize a rapidly increasing volume of operations with foreign customers in 2000, which considerably influenced the total growth of the Bank’s activities.

Aizkraukles banka achievements in the past year testified that the significant changes in the Bank’s strategy and structure allowed to increased substantially performance, quality and effectiveness of the Bank’s activity in 2000.