NORD/LB Latvija                                                  29.07.2005



NORD/LB Latvija in the HI 2005 drastically increases its business volumes 



NORD/LB Latvija operational ratios for the first six months of 2005 reflect

 the bank's convincing growth. NORD/LB Latvija assets during the HI have 

increased by 45%, deposit volumes - by 23%. Owing to the lucrative interest

 rates the fastest growth has experienced the bank's loan portfolio – in 6 

months it has increased by 49 per cent as compared with the situation as at 

the beginning of year. As a result of drastic increase of business volumes 

and improvement of the efficiency of the operational activities the profit 

of NORD/LB Latvija in HI 2005 amounted to LVL 4.3 million, which is more 

than twice as much in comparison with the respective period in 2004.



NORD/LB Latvija Chairman of the Management Board Mr. Andris Ozoliņš explains: 

“We are satisfied that in spite of the tough competition in the banking 

sector NORD/LB Latvija has been able both to achieve material growth of 

business volumes and to increase its market share in Latvian banking sector. 

Also the bank's daughter company – leasing company NORD/LB Līzings LTD during 

the first six months of the year has almost doubled two most important ratios 

that describe the operational activities of a leasing company – volume of 

lease portfolio and number of signed lease and factoring agreements. Another 

bank's daughter company – investment company NORD/LB Fondi – also has 

attracted more customers and expanded the volume of assets under management”.

Currently NORD/LB Latvija branch network consists of 25 branches and 8 

sub-branches in Riga and the major towns of Latvia, and already this year the 

number of branches is going to rise.  



Additional information:

Teika Lapsa

NORD/LB Latvija PR Manager

Telephones: 7015395, 9161561

teika.lapsa@nordlb.lv