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Baltic International Bank: operational and financial highlights for 3Q 2017

News - November 30, 2017

In 3Q 2017, Baltic International Bank focused particular attention on diversification of the Bank’s target markets, further development of financial products and services perceived by customers as beneficial, and measures aimed at spurring the overall effectiveness of the Bank’s performance.

In 3Q 2017, the volume of the Bank’s assets increased by 5.2 percent to reach EUR 281.1 million. The diversification of the Bank’s target markets and the provision of the Bank’s products and services also in Western Europe resulted in that the volume of deposits acquired by the Bank during the third quarter surged by 10 percent. Term deposits made up 43.7 percent of the aggregate volume of newly-acquired deposits. The Bank’s loan portfolio totalled EUR 72.43 million as of 30 September 2017. By the end of September2017, assets under management totalled EUR 70.56 million. The value of financial instruments in brokerage service reached EUR 113.75 million.

By the end of September2017, the Bank’s operating income reached EUR 12.7 million. The structure of the Bank’s operating income was dominated by income from the Bank’s proprietary trading totalling 59.7 percent. By the end of the reporting period, the percentage of fee and commission income increased up to 22.4 percent compared to the same period last year when the fee and commission income made up 20.1 percent of the total operating income. During the first nine months of 2017, the net fee and commission income grew by 6.1 percent to reach EUR 2.13 million.

By the end of September 2017, the Bank’s administrative expenses reached EUR 10.02 million. By the end of the reporting period, the Bank’s loss accounted for EUR 571 thousand. A portion of the Bank’s administrative expenses was formed by one-time expenses (EUR 1.79 million) associated with the changes to the conditions of sale of the Bank’s real property. Over the reporting period, the Bank’s administrative expenses declined by 2 percent compared to the same period last year.

As of 30 September 2017, the Bank’s own funds totalled EUR 32.39 million. The Bank's Tier I capital ratio (CETI) totalled 12.58 percent. Having reached 15.91 percent, the total capital ratio by 5.71 percentage points exceeded the individual ratio set by the Financial and Capital Market Commission.

The Bank’s liquidity ratio reached 85.83 percent as of 30 September 2017. The liquidity coverage ratio (LCR) totalled 289.72 percent. The net stable funding ratio (NSFR) reached 152.88 percent. NSFR requires banks to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities.

While continuing to implement the Bank’s operational strategy geared towards sustainable investing, Baltic International Bank established its subsidiary Akciju sabiedrība "BIB Alternative Investment Management" (joint stock company) in 3Q 2017. This will enable the Bank’s current and potential customers to engage in private equity deals, thus supporting development of sustainable business projects and generating capital gains on investments.

Financial report for the period ended 30 September 2017

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