Riga Stock Exchange                                                27.10.2004.



Bank NORD/LB Latvija has developed rapidly in the first three quarters of 2004





The results of bank NORD/LB Latvija in the first nine months of this year show 

that the bank is continuing its positive development, gradually approaching its 

goal- to become one of the dominating banks in Latvia.

In the first three quarters of 2004 the amount of the bank’s assets has increased 

by 54.2% in comparison with the beginning of the year, the amount of deposits 

attracted - by 40.5% up to 131.5 million Ls. Due to the beneficial loans of 

NORD/LB Latvija the loan portfolio of the bank has increased most rapidly- it 

has reached 267.0 million Ls. The net profit of the bank in the first nine months 

of 2004 has exceeded the budgeted amount as well, reaching 3 million Ls. 

President of NORD/LB Latvija Andris Ozoliņš explains: “NORD/LB Latvija has 

developed successfully in the first nine months of the year, and we are pleased 

also that, basing on two indicators of performance of the bank- the amount of 

loan portfolio and the amount of capital and reserves – the bank has occupied 

the fourth place among the biggest commercial banks of Latvia.”



In the beginning of October the shareholders of the bank made the decision to 

increase the equity of the bank by 21 million Ls in order to develop and 

strengthen the activities of the bank.



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

towns of Latvia.