In 2015, RIB continued successful development, which is confirmed by a moderate growth of the main financial indicators. The value of the assets during the year increased by 7.3% and as of 31 December of the year 2015 amounted to EUR 635 million. The profit before tax and reserves for doubtful loans compared to the previous year increased by 7.6% and reached EUR 6.7 million. During the year, the RIB created reserves for doubtful loans in the amount of EUR 8 million.
The RIB continuing to expand its customer base, and over the year the number of Customers increased by 15.7%. The largest growth was seen in the segment of foreign Customers, namely in the legal entities sector.
In 2015, the securities portfolio of the RIB increased rapidly, i.e. by 44.5% and as of 31 December 2015 it reached EUR 289 million. This substantial growth in 2015 took place due to investments into short-term and medium-term government bonds with high credit ratings.
At the beginning of 2015, the RIB started offering its Customers an opportunity to purchase precious metals as financial instruments and yet another currency in the current account, as well as bullions of precious metals. Apart from gold, the RIB also provides an opportunity to buy silver, platinum and palladium.
The first quarter of 2015 was marked with a memorable event. In March, the RIB bought a building at J. Alunana Street 2, where it used to rent premises for conducting its business. The building is located in the quiet Center of Riga, in the upscale district favored by embassies, and it has the status of a cultural and historical monument. In the future, the RIB plans to use the premises for its own needs and rent the extra space to reliable business partners.
In April, the RIB organized a depository, and began offering Customers an option to store valuables and documents in individual fireproof safes that are under 24-hour guarding and surveillance and are equipped with the latest modern alarm system. The depository of individual safes is located in the Bank’s building at 2 J. Alunana Street in Riga.
Therefore, despite political and economic situation in the world, the RIB has gained more than EUR 143,000 on documentary operations. In comparison with 2014, the portfolio of issued warranties increased by 124% and as of 31 December 2015 reached EUR 10.7 million.
Compared to the year 2014, in 2015 by 60% increased active payment cards, and the turnover on payment cards increased by 28% and at the end of the year reached 33.3 million EUR. RIB continued to work actively with the payment card acceptance service development and an annual turnover in comparison with 2014 has increased by 21.6%.
In November 2015, the FCMC defined for the bank an individual requirement for the capital at 15.6%, which also includes the capital reserve at the rate of 2.5%. The RIB met this requirement of the FCMC in 2015. The FCMC requirement to the individual liquidity ratio was established at 60%. As of 31 December 2015, the liquidity ratio of the RIB was 90.35%.