Financial statement for Q2 2021

Profit of LPB Bank in the first half of 2021 amounted to 2,48 mln euros

In the 2nd quarter of 2021, essential performance and efficiency indicators of LPB Bank were on a solid and stable level, and, despite the economic downturn, the Bank was able to maintain its profit at the level of the previous year. The Bank has been actively implementing its development strategy to provide comprehensive banking services to Latvian companies, focus on e-commerce services, and successfully develop business relations with FinTech companies and startups.

Key financial performance indicators of LPB Bank for the 2nd quarter of 2021 (unaudited):

  • Assets – EUR 227,28 million;
  • Operating income – EUR 9,3 million;
  • Capital and reserves – EUR 35,2 million;
  • Profit – EUR 2,48 million;
  • Liquidity coverage ratio – 168%;
  • Capital adequacy ratio – 24,86%.

During the reporting period, the Bank underwent changes in the composition of the Council of the Bank. The mortgage loan market has become more active, where the Bank is ready to find and offer the most suitable solutions for its clients. The service of an individual safe has become especially in demand since the opportunities to spend the accumulated funds on travel, expensive purchases and even investments have been severely limited. Listening to the needs of its clients, the Bank continued to improve and modernize its Internet Bank.

Robert Christian Schoepf, Chairman of the Board at LPB Bank:

All of the Bank’s performance indicators remain at a very good level and stable level. Thanks to the well-coordinated work of our entire team, we were able to maintain the Bank’s profit at the level of the previous year.

We always seek out new developments in banking worldwide, aiming to adjust to the changing marketplace quickly, and without extraordinary effort. In a way, a small bank is an advantage that allows us to respond quickly and efficiently to the changing situation in the world of finance and technology.

As I noted earlier, we have begun a large-scale reconstruction of the Client Service Center, and in a few weeks, we will be glad to welcome our clients to more modern and technologically advanced premises.

To get acquainted with the financial statement, please follow this link.