Emitents | Reverta, AS (iepriekšējais nosaukums - Parex banka, AS) (097900BHBR0000064855) |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2014-08-29 08:52:04 |
Versijas komentārs | |
Teksts |
The performance of
Joint-Stock Company Reverta in the first half of 2014 has been
significant – a total of EUR 31m has been paid to the State
Treasury. Overall, Reverta has already repaid EUR 66.7m during this
year and a significant portion of the payment has been done ahead
of schedule. As a result of
successful RE sales and loan restructuring, Reverta has recovered
EUR 38.7m during the first half of 2014 and more than EUR 550m
since 1 August 2010. Solvita Deglava,
Chairperson of the Management Board of Reverta, points out: “This
is a significant achievement as our main objective is to fulfil our
obligations towards our main creditor, i.e. the State Treasury.
Nevertheless, we have to be realistic – there will be losses
incurred. The accurate amount of losses will be known after
completion of the asset disposal because Reverta’s performance is
affected not only by the efficiency of our work but also at large
by such factors as both Latvian and worldwide economic growth, the
real estate market situation, the heavy schedule of Latvian courts
and the counteractions undertaken by borrowers.” 264 properties have been
sold for the total amount of EUR 16.3m during the first half of
2014 as compared to EUR 14m during the same period last year. The
high indices can be explained by the rather dynamic real estate
martket resulting both from the overall growth of the Latvian
economy and the increasing number of new mortgage loans being
issued. There was especially big demand for medium-sized flats in
standard apartment buildings and the interest in land plots is
moderate though increasing. The aforementioned economic
circumstances along with the efficient sales strategy have allowed
Reverta to increase the speed and volume of RE sales. By the end of
June 2014, Reverta had offered 522 properties for sales. Taking into
consideration the uncertainty created by the Ukraine/Russia
conflict, Reverta has made additional provisions for loan losses on
loans affected by this conflict. The losses during the reporting
period were in the amount of EUR 23.3m. As the value of some
particular assets has decreased even by 90 percent due to the low
quality of collateral securities, it can be expected that there
will be need for even further provisions and more losses will be
incurred. |
Pielikumi |