Emitents | Reverta, AS (iepriekšējais nosaukums - Parex banka, AS) (097900BHBR0000064855) |
Veids | Citi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2009-12-09 16:14:45 |
Versijas komentārs | |
Teksts |
During the year since the new board of Parex banka took office, administrative costs of the bank have declined by 41% in comparison to average monthly indicators last year. By the end of the year, the savings will amount to LVL 31, compared to the administrative costs in 2008. During the first 10 months of the year, communications costs
were reduced by 30%, and office expenditures were cut by 60% in
comparison to the same period of time in 2008. Major savings
between January and October were also ensured by a 92% cut in
travel costs, an 83% drop in advertising and marketing
expenditures, a 75% drop in representation costs, a 72% decline in
security services, and a 68% reduction in transport
expenses. Spending on electricity and heat declined by 39% and
41% respectively. The average monthly wage fund at the bank
has declined by 46% after a staff reduction of some 800 people and
a review of all employee wages. Moving to new archival
facilities allowed the bank to reduce costs by 72%, while moving to
the new head office building will allow to save as much as LVL 2.7
million a year.
Tīna Ķuze, head of the Operational Sector: “Within the
framework of the implementation of structural reforms at the bank,
which allowed us save substantial amount of money, we assessed
functions, optimised procedures, thus, making processes more
effective. Furthermore, we conducted new price surveys among
suppliers and certain services are now being outsourced.”
Parex banka’s main priorities during the first
half-year of 2009 were to ensure sustainability and prevent the
outflow of deposits, as well as to reach new agreements with the
providers of syndicated loans. Afterwards, the bank entered the
stabilisation phase, improving basic indicators, attracting the
European Bank for Reconstruction and Development into its
shareholder structure and entering into negotiations with other
potential investors. Furthermore, the management of the bank has
begun the work on the restructuring of the bank.
About Parex banka:
Founded in 1992, Parex banka currently employs some 1
900 people at branches all over Latvia and offers universal banking
services throughout the Baltic region, the CIS and other European
nations such as Germany, Switzerland and Sweden. Parex Group
companies operate across the banking, finance, leasing, asset
management and life insurance sectors. Currently, the Latvian
Privatisation Agency is the majority shareholder of Parex
banka, holding 73.4% of the Bank’s shares, but 22.4% are
controlled by the European Bank for Reconstruction and
Development. Parex banka has signed up to
the European Code of Conduct on housing loans.
For more information:
Inga Saleniece, acting director
Corporate Communications Department
Telephone: +371 67778870 or +371 26564629
E-mail: pr@parex.lv
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