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%.

Over the ten months of this year, Aizkraukles Bank (AB) had generated a profit of 3.357 million lats. In October, AB earned more than 390 thousand lats.

Starting from October 28 and through the end of the year, Aizkraukles banka (AB) will offer deposits bearing an interest, which is increased, on the average, by 0.5 per cent. The increased interest-rates are offered by AB for time deposits both in Lats (minimum 600 Ls), US Dollars and Euro (minimum 1000 USD/EUR).

The first nine months of this year, Aizkraukles Banka (AB) had generated a profit of 2.966 million lats. In September this year, AB earned more than 344 thousand lats.

The first eight months of this year, Aizkraukles Banka (AB) had generated a profit of 2.622 million Ls. The Return on Assets (ROA) of the bank as reported for this eight-month period was 3.05% per annum. The average value of this indicator in Latvian banking sector according to the data of the Financial and Capital Market Commission last year was 1.5%. In August this year, AB earned more than 447 thousand lats.

With a view to considering the prospects of acquisition of another bank, Aizkraukles Banka (AB) had, this week, requested the auditing company Ernst&Young to evaluate the proposals meeting certain requirements. It is an internationally accepted practice to involve a consultant for the purposes of such an important deal. Ernst&Young is among the largest auditing companies in the world.

The Shareholders Meeting of AS Aizkraukles Banka (AB) has approved the audited financial results for first half-year of 2002 and resolved not to distribute the bank’s half-year profits in dividends, but to retain it within shareholders equity of the bank, with an objective of fostering the further development of the bank. As of the end of July, the shareholders equity of AB equalled 14.958 million lats.

Aizkraukles Banka (AB) accounts for 2.175 million Ls profit in the first seven months of this year. The Average Return on Assets (ROA) of the bank as reported for this seven-month period was 2.99% per annum. The average value of this indicator in Latvian banking sector according to the data of the Financial and Capital Market Commission last year was 1.5%. In July this year, AB earned 283 thousand lats.

The first half of this year Aizkraukles Banka (AB) had generated a profit of 2.063 million Ls. In June this year, AB earned 118 thousand Ls with the Average Return on Assets (ROA) of the bank at 3.35% per annum. The average value of this indicator in Latvian banking sector according to the data of the Financial and Capital Market Commission last year was 1.5% .

Aizkraukles Banka (AB) has gained revenue of 1.945 million lats in the first five months of this year. This May AB made 313 thousand lats with the banks ROA 3.8% per year. According to the Financial and Capital Market Commission, last year the average value of this indicator in Latvian banking sector was 1.5%.