During the past year JSC Pirmā banka loan portfolio grew by 80% (up to

LVL 88 million), deposit value has grown by 60%  up to LVL 60 million),

assets  grew  by  50%  (up to LVL 143 million), and a LVL 1.34  million

(non-audited) profit was made, which is 4 times over the 2001 profit.

In 2002 the Bank opened three new branch offices in the centre of Riga,

and  has  modernised  branch offices in the regions. A mortgage-lending

centre was opened in Riga. At the beginning of 2002 the Bank started to

issue  bankcards  in EUR. A new ATM accepting smart-cards was installed

at  the  beginning  of  2003.  As  a  result of co-operation with other

Latvian  banks,  the  ATM  network,  allowing  Pirmā  banka  clients to

withdraw cash without extra charges, was boosted three times.

In  June  the  Bank  received  a  10 million EUR loan from the European

Investment bank, for on-lending to Latvian businesses.

NORD/LB  also believes that the past year has been a successful one. At

the  end of last year it forecasted an increase of assets up to EUR 202

billion.