Trasta komercbanka's Operating Results for 2008


On March 31, 2009, the AS „TRASTA KOMERCBANKA” general meeting of shareholders
was concluded, at which the bank's operating results for 2008 were accepted and
future developments were discussed. 

At the general meeting, Trasta komercbanka's (TKB) shareholders accepted the
2008 financial statement with reports from the auditors and the bank's council
and board. 

In accordance with data from the 2008 consolidated audited financial statement,
last year Trasta komercbanka earned 7.129 mil. lats (profits for the bank group
were 5.236 mil. lats). The shareholders meeting decided to leave the net profit
for 2008 at the disposal of the company for the further development of the
bank. 

TKB's total assets at the end of 2008 comprised 217.135 mil. lats, while
deposits totalled 159.599 mil. lats. On December 31, 2008, the bank's capital
and reserves totalled 34 549 milj. lats., while the capital adequacy ratio at
the end of 2008 was 17.7. In November 2008, TKB repaid a syndicated loan to
seven European banks totalling 16 million EUR, which was received in 2007 and
was organised by the Austrian bank Raiffeisen Zentralbank Osterreich AG. 

In 2008 Trasta komercbanka retained its position as the leader for
profitability indicators in the Latvian market, in first place for return on
equity (ROE) (20.64%) and return on assets (ROA) (3.28%). 

The Bank Council was re-elected at the shareholders meeting. Igors Buimisters
(council chairman), Alfreds Cepanis (deputy council chairman), and Carlzs
Treherne will continue their service on the council. The Bank Board was also
re-elected by a decision of the Bank Council, and its composition also remains
unchanged: Gundars Grieze (board chairman), Maris Fogelis (1st deputy
chairman), Viktors Ziemelis (deputy chairman) and board members Svetlana
Krasovska and Tatjana Konnova. 

In accordance with financial markets supervision requirements and changes to
the law, a Trasta komercbanka internal auditing committee was elected at the
meeting, consisting of: 
Hermanis Lapkovskis (head of the auditing committee) and Boriss Grigs.
Documentation connected with organising the auditing committee's work was also
accepted. In connection with these developments, TKB shareholders approved
amendments to the AS “TRASTA KOMERCBAKA” statutes. 

The shareholders selected the auditing company Ernst & Young Baltic to check
Trasta komercbanka's 2009 financial statement. 


Julija Jurgele
Deputy Head of PR
JSC "Trasta komercbanka"
Ph. 67027785