Latvijas Krājbanka                                                     18.07.2005



JSC "Latvijas Krājbanka" Profits for the First Half of the Year Increase Fivefold



During the first six months of 2005 JSC Latvijas Krājbanka has worked with a 

profit of 1.223 million lats, which considerably exceeds the indicators of the 

respective period last year. In comparison to the six months in 2004 the Bank’s 

profits this year have grown by more than five times, or by 983 thousand lats. 



“The profit of the first half of the year is a very good achievement for the bank,

 which proves that our efforts have not been vain and have yielded gain. Moreover, 

it tells not only about the successful activities of Krājbanka this year, but also 

about general growth of Latvian economy and increased public trust in the banking 

system,” stresses the President of Latvijas Krājbanka, Andris Nātriņš. 



This year Latvijas Krājbanka expects to earn at least 2 million lats in total, 

which is considerably more than estimated beforehand. The Bank is also hoping to 

have successful business during the second half of the year, as a result of growth 

of popularity of the offered services among citizens and attraction of more new 

customers.



During the first half of 2005 the volume of loans granted by the Bank continued to 

grow, too. During the six months of this year the volume of loans granted by 

Krājbanka has grown by 9.862 million lats, or 8%, reaching 131.853 million lats at 

the end of June.



Also the volumes attracted for Krājbanka’s deposits, when compared with the first 

half of 2004, have gone up considerably. As at 30 June 2005, the Bank has attracted

 in deposits 180.443 – by 22.452 million lats or 14.2% more that during the first 

half of the last year.



“We expect the loan and deposit amounts to continue to grow this fast also in the 

future, because the inhabitants of Latvia become financially more and more active 

and the general level of living is increasing. Today the people who did not use 

banking services beforehand understand that they are available and advantageous. 

Latvijas Krājbanka, as traditionally the closest bank to the inhabitants, will 

continue developing and offering competitive services necessary for the people 

living in Latvia, focusing on consumption and mortgage crediting, card products, 

and remote banking products based on internet and mobile technologies,” says the 

President of Latvijas Krājbanka, Andris Nātriņš.



The volume of the Bank’s assets (less assets under management) reached 212.723 

million lats during the six months of this year. The volume of capital and reserves

 was 14.196 million lats as at 30 June 2005, having increased by 9% or1.224 million

 lats in comparison with 30 June 2004. 



During the first six months of the last year Krājbanka earned 240 thousand lats, 

while the Bank’s audited profit of the last year reached 1.302 million lats, which 

is 51% more that the year before. 



JSC Latvijas Krājbanka Press Secretary 

Ieva Bethere, 

phone 7092 055, 6300621