The 2015 financial statements of JSC Baltic International Bank (unaudited)
In 2015, JSC Baltic International Bank narrowed its focus to the priority areas, such as profit-bearing financial activity and sustainability of the model chosen by the Bank. Management of risks faced by the Bank was a special emphasis area.
The Baltic International Bank's (here referred to as the Bank; the Group-related financials are enclosed within the parentheses) liquidity position remained stable. As at 31 December 2015, the liquidity ratio was 91.88 percent and significantly exceeded the minimum internal requirement of 60 percent. The Bank continued to maintain strong capital adequacy ratios: common equity tier 1 (CET1) ratio of 12.69 percent (12.47 percent) and total capital ratio of 17.60 percent (17.41 percent).
According to the 2015 financial results, the Bank’s operating income increased by 35.6 percent (35.3 percent) and reached EUR 19.78 (19.91) million.
In 2015, the key ratios of the Bank’s balance sheet showed a stable growth: the Bank’s assets grew by 3.7 percent (3.6 percent) to reach EUR 550.39 (549.97) million. The total volume of customers’ funds (including assets under management, brokerage portfolio, debt securities issued, deposits, and subordinated deposits) increased by 7.5 percent to reach EUR 727.94 (727.92) million. The Bank continued to actively boost its securities portfolio. Over the year, the total investments increased by EUR 133.58 million or 138.3 percent.
On 31 July 2015, for the first time in its history, the Bank carried out the public issue of its own bonds. On 12 August 2015, the Bank’s bonds were admitted to official stock-exchange listing on Nasdaq Riga and quoted on the Nasdaq Baltic Bond List. In December 2015, the Bank successfully closed its Bond Offering Programme No 2. The volume of the Programme totalled EUR 10 million.