Teksts
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Due to objective reasons the Joint Stock Company Parex banka is
planning to submit its unaudited financial statements of 2010 to
the official central storage system of the mandatory information
and a/s NASDAQ OMX Riga from 28 February to 31 March, not by the
end of February as the company had planned before.
Considering the sophisticated restructuring process of Parex banka
and the complexity of reflecting thereof in the financial
statements, additional time is required so that the bank would be
able to provide true and fair financial information complying with
the International Financial Reporting Standards in the best
interests of all its shareholders.
At the same time, the published 9-month results and the regular
financial reports show that in general the results of economic
activity of Parex banka comply with the forecasts and are in line
with the restructuring plan approved by the Cabinet of Ministers
and the European Commission. Having regard of the peculiar nature
of Parex banka operation the profit is not anticipated, therefore
the most significant factor, when evaluating the results of Parex
banka activity, is and will be the recovered amount of the cash. At
the same time, the bank strives to minimize the losses to extent
possible by continuing a thought-out and cautious implementation of
the operational and financial activity, as well as by scrupulous
evaluation of all expenses and efficient use of the internal and
external resources.
About Parex banka:
Since 1 August 2010 Parex banka is operating as a resolution
bank and it has ceased rendering such classical banking services as
account and deposit services, issuing loans etc. The main objective
of Parex banka is maximum recovery of the state investments. In
order to achieve its goals, the operation of Parex banka is focused
on efficient loan restructuring, debt recovery and real estate
management.
Additional information:
Marita Ozoliņa-Tumanovska
Head of Communication and Marketing Department
Telephone: 67779142 or 29287169
E-mail: Marita.Ozolina@parex.lv
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