Highlights of Bank’s Financial Results for September 2008
During the nine-month reporting period, Baltic International Bank’s assets reached 155,120 million lats – an increase by 66 % (or 61, 861 million lats) from the same period last year.
The total amount of deposits increased by 44,933 million lats (or 44 %) and at the end of September reached 136,434 million lats.
The main reason behind the decrease in the Bank’s profit for the first nine months of 2008 is a fluctuation in the market value of securities included in the Bank’s trading book in cause of situation in world’s stock markets. In addition, it is worth mentioning that the creditworthiness of the securities’ issuers has not changed.
In comparison with nine-month reporting period of the last year Bank’s interest income has increased by 33%, and commission income has increased by 11 %.