International audit company “Deloitte & Touche” conducted the audit of the results of JSC “Aizkraukles banka” financial activity in 2000

February 13, 2001 / Banking

According to independent auditors’ report signed on February 9, 2001 “the financial statements referred to above present fairly, in all material respects, the financial position of the Bank as of 31 December 2000 and the results of its operations and its cash flows for the year ended in accordance with International Accounting Standards”.

According to the audited results of the Bank’s activity, JSC “Aizkraukles banka” revenue in 2000 amounted to 5,33 million Lats. All the significant financial indexes of the Bank’s activity increased. Particularly, it is worth to underline the Bank’s high level of liquidity — 78%.

In 2000 the Bank’s assets increased by 19 million Lats having reached 84 million Lats and thus exceeded the planned growth of assets by 29%.

At the end of the year 2000 the volume of deposits attracted reached 73,3 million Lats, that is 13 million or 22% growth comparing with the end of 1999.

Compared to 1999, JSC “Aizkraukles banka” gross loan portfolio increased by 90% and reached 19 million Lats.

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.

The management of the Bank sincerely thanks its Customers and undertakes in the future to serve in the best interest of its Customers, following the concept of stability and professionalism.S