BluOr Bank continues to develop financial services for Latvian companies

BluOr Bank’s activity in the 1st half of 2023 is characterised by stability and targeted development, in line with the bank’s business model and strategic goals.

The bank ended the reporting period with a profit of EUR 7.6 million. The bank’s operating net income in H1 2023 was EUR 16.8 million. The bank’s equity is EUR 83 million, total assets amount to EUR 708 million.

As of June 30, 2023, the bank’s liquidity reached 171% (LCR), capital adequacy – 17.2%. The most important financial performance indicators for six months have also been successful: return on equity (ROE) is 18.3% and return on assets (ROA) is 2.1%.

The bank successfully implements its business strategy, which is focused on serving Latvian corporate clients: over the past 12 months, the number of clients – Latvian companies has increased by 19%.

BluOr Bank continues to actively lend to enterprises, providing financing to entrepreneurs of various industries. Within half a year, the bank has signed new loan agreements worth EUR 61 million. 83% of them have been allocated to lending to small and medium-sized enterprises and business promotion not only in Riga, but also in several regions of Latvia.

As of June 30, 2023, the total portfolio of loans granted and issued amounted to EUR 372 million.

Enclosed: The interim financial report on the performance of BluOr Bank AS in the first half of 2023.

About BluOr Bank:

BluOr Bank AS is a privately owned commercial bank of Latvia. The Bank was established in 2001. BluOr Bank AS provides a full range of banking services: daily banking services for businesses and individuals, loans to small and medium-sized companies, asset management and brokerage services.

According to the Bank’s development strategy, the main business segment is corporate banking with a focus on small and medium-sized companies and corporate lending.

Additional information: https://www.bluorbank.lv

For contacts:

Ingrīda Šmite

Head of the Corporate Communication and Marketing Department at BluOr Bank

Ph.: +371 67 034 257

pr@bluorbank.lv

ingrida.smite@bluorbank.lv

www.bluorbank.lv