Our focus is to continue to manage through the current economic cycle through
prudent risk management and by continuing to ensure a safe and stable position
including a high capital adequacy and liquidity position.
Considering these goals, during 3rd quarter the Bank continued to create
reserves. Total reserves on September 30th, 2010 comprised 26% of the total
portfolio. Thus the Bank completed 9 month period of 2010 with 16,102 thousand
lats of unaudited losses.
In June 2010, the decision was taken at the shareholder extraordinary meeting
to increase the Bank's share capital. Thus the Bank enjoys strong current
ratios - on September 30th, 2010 the Bank's capital adequacy ratio was 15.99%,
which twice exceeds the requirement of the Financial and Capital Market
Commission (FCMC) of 8%, while our liquidity ratio exceeded the FCMC's
requirements of 30% by approximately three times.
On September 30th, 2010 the Bank's total assets were 213,224 thousand LVL, loan
portfolio - 112,885 thousand LVL, and deposit portfolio - 183,442 thousand
lats.
Additional information
Tija Ezeriņa
Head of Communication division
GE Money Bank Latvia
Ph.: +371 7024706
Mob.: +371 27876080
E-mail: tija.ezerina@ge.com
