The Bank’s total loan portfolio on June 30th, 2011 was LVL 91,776 thousand. Portfolio amount decreased mainly as a result of repayment of issued loans. Total amount of reserves on June 30th, 2011 was LVL 37,421 thousand. Net loan portfolio amount on June 30th, 2011 was LVL 54,355 thousand.
The Bank's total assets in the first half of the year comprised LVL 130,087 thousand, deposit portfolio - LVL 111,086 thousand.
The Bank completed half-a-year 2011 with LVL 4,515 thousand of un-audited losses which is 60% lower than losses in the same period of 2010. On June 30th, 2011 the Bank's capital adequacy ratio was 13.89%, while the liquidity ratio was 77.51% - both ratios well above the statutory minimum.
On June 28, 2011 GE Capital announced an agreement to sell GE Money Bank to OTKRITIE Financial Corporation JSC. The deal is subject to regulatory approval, and the parties anticipate closing in the next few months.
The Bank's management's focus is to ensure a smooth transition to the future owner providing uninterrupted quality customer service, as well as continuing to ensure the Bank's security and stability. We continue to maintain high capital adequacy and liquidity, a healthy deposit base, exercise prudent risk and cost management.
Kristine Circene
Communication Project Manager
GE Money Bank Latvia
Ph.: +371 67029019
Mob.: +371 26490696
E-mail: kristine.circene@ge.com
