Within the first three months of the yr, Rietumu Banka issued loans of just about 19 million euros.

Based on the report, Rietumu Banka’s revenue earlier than taxes within the first three months of this yr was 4 million euros. The financial institution’s property as of 31.03.2024 had been 1.5 billion euros, buyer deposits – 970 million euros, capital and reserves – 337 million euros.

The scale of the mortgage portfolio was 648 million euros. Because the starting of the yr, Rietumu Banka has offered loans within the complete quantity of 18.7 million euros, persevering with to offer financing, together with the event of inexperienced vitality initiatives in Latvia.

As one of many inexperienced vitality initiatives, Rietumu Financial institution offered EUR 4 million to the Latvian subsidiaries of Volterra Vitality Group SIA SP Auce and Mežgalis SIA for the refinancing of two of the most important photo voltaic vitality parks in Auce and Valdemārpils in Latvia. The 2 photo voltaic parks have put in greater than 14,000 photo voltaic panels with a complete capability of 9,279 MW, which permits the manufacturing of greater than 9,500 MWh of inexperienced electrical energy per yr.

Then again, 1 million euro was given to SIA “Spridzenu HES” for the event of the operation of the photo voltaic vitality park and hydroelectric plant within the parish of Aiviekste, the place there will probably be photo voltaic panels with a complete capability of 1.5 MW and a manufacturing capability of 1.2 MW situated subsequent to the hydroelectric plant on the river Aiviekste, thus diversifying and rising the vitality acquire.

As Jeļena Buraja, chairman of the board of Rietumu Banka, stated: “Funding Latvian enterprise is our strategic precedence. Guided by sustainability ideas, we’re additionally giving extra help to renewable vitality initiatives which are carried out within the nation. This improvement of the trade is important each for the safety of the setting, making certain Latvia’s vitality independence, and for the expansion of the nationwide financial system. There isn’t any doubt that inexperienced vitality is in our future – you will need to pay attention to it in the present day and provides this sector of the financial system all the mandatory help.”

Rietumu Financial institution’s profitability indicators are at a steady excessive stage: return on capital (ROE) 3.86%, return on property (ROA) 0.91%. The capital adequacy ratio, which displays the monetary stability of the corporate, is 23.59%, the liquidity protection ratio is 397.81%, a number of instances increased than the requirement set by the regulator (100%).