Baltic International Bank: highlights of performance over the first ten months of 2009

News - November 19, 2009

The bank has announced its financial results for the ten months ended 31 October 2009.

During October, the bank maintained healthy development. The bank’s stable financial results testify to this fact. At the end of October the bank’s assets totalled LVL 189.5 million, a 13 percent (or LVL 22.2 million) increase over the figure recorded at the beginning of 2009.

Consumer confidence index (CCI) still remains the most important indicator taken into account by the bank: over the past ten months, deposits have reached LVL 157.1 million - a growth of LVL 3.9 million from the previous month. At the end of October, the overall deposit structure was as follows: term deposits represented 41 percent, while demand deposits accounted for 59 percent of the total deposits.

Total deposits represent around 90 percent of total borrowed funds. The loan-to-deposit ratio equals 23 percent and is indicative of a conservative lending approach. The bank continues to focus on economic sectors striving towards long-term development and explores opportunities to boost its loan portfolio by financing projects in promising economic sectors.

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