Aizkraukles Banka Shareholders Approve Operations Report From First 9 Months of Year

November 26, 2004 / Banking

A shareholders’ meeting of Aizkraukles Banka has approved audited financial results from the first nine months of 2004. The bank increased profits during that period by 17% over the same period last year, achieving a total sum of Ls 5.1 million in profits. Assets at the conclusion of the third quarter of the year were up to Ls 383.1 million, or 52% more than at the beginning of the year. There has been an increase in deposits, too — the total sum is up by 38%, totalling Ls 372,916,369.

The Aizkraukles Banka mortgage loan profolio has grown by 126%

The Aizkraukles Banka mortgage loan portfolio has grown by a massive 126% in the first nine months of 2004. The Ls 125,614,015 million that have been issued by the bank in mortgage loans represent more than one-half of the total loan portfolio.

Achieved results — basis for more successful performance in future

«The bank’s successful operations in the first nine months of this year confirm once again that we have chosen an appropriate and correct strategy for our operations. The achievements will help us to be even more convincing in our work, and with each step we will achieve that which is the greatest treasure of our bank or of any enterprise — the trust and loyalty of our clients. We will also be able to do our charitable work to an even more successful degree,» said the deputy board chairman of the bank, Olegs Fils.

The bank is continuing to be involved in charity projects

The bank has offered its name and its financing to the charity project «Latvia’s Pride», which is aimed at enhancing compassion and mutual understanding in society. The bank regularly offers aid to sick children, it takes part in social environment projects, and it supports Latvian sports, too.

The Bank has opened new client service centres

In the third quarter of 2004, the bank opened a new loan centre, "Marija", a client services centre, «Anninmuiza», and a client services facility called "Diennakts banka AB24", which offers clients 24/7 access to a multi-currency ATM, as well as three terminals which allow clients to use the bank’s "Internetbank AB.LV" services.

Aizkraukles Banka — one of the leading commercial banks in Latvia

Aizkraukles Banka is one of Latvia’s five leading commercial banks. Its paid equity capital is Ls 15 million, with 100,000 shares. The bank has 147 shareholders, including 117 private individuals and 30 companies. The main shareholders are Olegs Fils with 45.82% of shares, Ernests Bernis and Nika Berne with 45.82% of shares, and Aleksandrs Bergmanis with 3.87% of shares.