Baltikums Bank AS has successfully finalised subscription and placement of 8,000,000 new common nominal voting shares, effectively increasing the Bank’s capital by LVL 8 mio. The new issue was paid in full by the Bank’s parent company, BBG AS. The ratio of shareholders’ direct and indirect participation in the Bank’s capital remains unchanged. As a result of the issue, the Bank’s net worth has reached LVL 30,005,578, with its stock capital at LVL 27,756,200.
“The willingness of shareholders to invest available funds in the Bank’s shares throughout its lifetime has allowed us to build a secure foundation for stable development of Baltikums Bank in the future. Among leading private banks in Latvia, Baltikums Bank has a low ratio of external borrowings to net worth (7% or LVL 2.2 out of 30 mio.), and a relatively high capital adequacy ratio (16.67% as of 31 March 2013)," noted Dmitrijs Latiševs, Chairman of the Board and СЕО at Baltikums Bank.
Uldis Zandars
Baltikums Bank AS
Deputy of Head of the Product Development and Marketing Department
Phone: +371 67 031 408, +371 29 206 536
E-mail: uldis.zandars@baltikums.eu