The  net profit of NORD/LB Latvija in the first five months of 2004 has

doubled in comparison with the respective period in the last year

The  operation results of bank NORD/LB Latvija in the first five months

of 2004 show rapid development of the bank.

In  the  first  five months of the year the amount of the bank's assets

has increased by 23%, the amount of deposits attracted - by 19%. Due to

the  beneficial loans of NORD/LB Latvija the loan portfolio of the bank

has  increased  most rapidly- by 32%. The net profit of the bank in the

first  five months of 2004 has doubled in comparing with the respective

period in 2003- this year it is more than 1.4 million Ls.

President  of  NORD/LB Latvija Andris Ozoliņš explains: "We are pleased

on the operation results of NORD/LB Latvija in the first five months of

the  year,  and we plan to continue the rapid development. The daughter

company of the bank- NORD/LB Līzings- has started working successfully.

NORD/LB  Latvija  plans to work more intensively in financing small and

middle  enterprises,  as  well  as  to  continue the development of the

network of branches of NORD/LB Latvija".

NORD/LB  Latvija  has  21  branch  and  12 sub-branches in Riga and the

biggest towns of Latvia.