Aizkraukles Banka Earns Ls 6.8 Million

July 21, 2005 / Banking

Aizkraukles Banka Profits Up By 78%

According to unaudited financial results, Aizkraukles Banka (AB.LV) earned profits of Ls 6.807 million in the first six months of 2005. Assets have increased to a level of Ls 521.019 million, and the bank has attracted Ls 449.080 million in deposits. Compared to the first six months of last year, profits are up by 78%, assets — by 49%, and deposits — by 47%.

Aizkraukles Banka Issues Loans Worth Ls 209,664,446

AB.LV has significantly enhanced its loan portfolio, with a total of Ls 209,664,466 issued in loans — two times more than in the previous year. This is thanks to the bank’s successful operations in the loan industry, particularly focusing on mortgage lending. Mortgage loans make up a significant part of the overall loan portfolio.

Aizkraukle Banka Services — Very Popular

«It is nice to know that the financial services which our bank offers are increasingly popular among our clients. We will continue our development strategy, the aim being to help our clients to achieve success and to facilitate a higher standard of living in Latvia,» says AB.LV co-owner and deputy board chairman Olegs Fils.

Aizkraukles Banka — a Socially Responsible Bank

AB.LV continues to take an active part in socially important projects. For the second year now, the bank has supported the «Pride of Latvia» project of the newspaper Diena and the television company TV3. The bank has helped to finance the restoration of the Rundale Castle, it has carried out a public integration project, «Distinguished Persons in Latvian Democracy», it has supported children’s performances at the Latvian National Opera, and it has provided assistance to the Paediatric Clinical University Hospital.

Aizkraukles Banka — a Local Bank

Aizkraukles Banka is wholly owned by Latvian owners, and it is active in Latvia and abroad, offering clients a wide range of financial services. Paid equity capital amounts to Ls 15 million, with 100,000 shares. The bank has 121 shareholders, including 99 private individuals and 22 enterprises. Leading shareholders include Olegs Fils (46.44% of shares), and Ernests and Nika Bernis (46.44% of shares).