Volume of loans issued by Aizkraukles bank grows in November

December 16, 2002 / Banking

The volume of loans granted by Aizkraukles Bank (AB) has increased by 5.2 million lats or 15.4% in November when compared with October. Since the end of the year 2001, the loan portfolio of AB has increased by 30.5%.

As of the end of November, the total volume of loans granted by AB has exceeded 39 million lats. When compared with the eleven-months performance of the previous year, the Bank has increased its stock of issued loans by more than 40%.

Special Offer for depositors continued in December

At the beginning of November, AB announced the promotion of time deposits, during which the deposit interest rates were increased by 0.5 per cent on the average. The Bank acknowledged that the first month of the promotion was successful — the activity of depositors was considerable. The special offer for deposits shall be valid until 31 December 2002.

The volume of non-bank deposits of AB has increased by 1.1 million lats during the previous month, exceeding 132 million Ls as of the end of November. The volume is 48.5 million Ls (or 58%) more than during the respective period of time past year.

Also Other Key Indicators of AB’s Performance are Augmenting

Over the first eleven months of this year, AB had generated a profit of 3.643 million lats. Hence, the Bank has already over-fulfilled the profit forecast for this year (3.26 million lats). This November, AB earned more than 286 thousand lats.

The assets of AB as of the end of November 2002 were equal to 163.9 million lats. The assets increased by 2.7 million Ls (1.6%) during this month, or by 58.3 million Ls compared with the eleven-months period of the past year (55%).

Aivars Rauska,
Deputy Head of the Customer Service Division

Aizkraukles Banka