Banks, Financial Services, Latvia, Legislation, Loan

According to the bank's consolidated financial performance report at the NASDAQ OMX Riga Stock Exchange, DnB/Nord banka concluded the first half of 2009 with LVL 52.8 million losses, writes LETA.

DnB Nord banka"concluded the first half of this year with LVL 52.8 million loss after provisions, according to the bank's consolidated report filed at NASDAQ OMX Riga.

The bank's net reserves at end-June reached LVL 78.1 million; the total amount of reserves stood at LVL 92.8 million.

Operating profit of DnB Nord banka before reserves and tax reached LVL 16.5 million in the first six months, a 16.6% increase on the results of the respective period of time last year.

In January-June this year, the bank's deposit portfolio increased 3.1% from the beginning of the year and reached LVL 453 million.

Loan portfolio of DnB Nord banka reduced eight% compared with the figure at the beginning of the year, to LVL 1.554 billion at end-June.

According to the survey "TOP 101" list of Latvia's most valuable enterprises carried out by the business magazine "Kapitals", in cooperation with investment banking company IBS Prudentia and Riga Stock Exchange, DnB/Nord banka (worth LVL 189.45 million) was the 14th most valuable enterprise in Latvia in 2008.