Deposits raised by Baltic International Bank have increased by 9%
In 2017 Bank devoted particular attention to the diversification of its target markets by offering Bank's products and services not only on the usual target markets, but also expanding its offering to clients in Western Europe. We are pleased that new customers have highly appreciated Bank’s offers and our efforts have yielded positive financial results.
For Baltic International Bank, the past year has been marked by persistent implementation of its new strategy and introduction of modern technologies. In parallel, Bank worked on promoting new products and services to offer its customers even more wealth management and investments solutions. A special focus was made on growing the Bank’s business beyond the current target markets by acquiring new customers - individuals and companies from Western European countriesIlona Guļčaka, the Chairperson of the Management Board of Baltic International Bank.
In the quarter ended 30 September 2017, there was also an upward trend in other performance indicators of Bank. Over the three-month period, the Bank's assets rose by 5.2% up to EUR 281.1 million, and the total of customer funds grew by 10% and reached EUR 413 million. At the end of September 2017, the Bank's liquidity ratio was as high as 85.83%.
The amount of deposits attracted by Baltic International Bank went up by 9% during the third quarter of 2017. Term deposits at the end of September amounted to 43.7% of the total deposit portfolio, providing opportunities for new investment projects and financing for Bank customers – private individuals and companies both in Latvia and overseas.