BluOr Bank AS publishes its unaudited interim financial statements for the six-month period ended 30 June 2024.

BluOr Bank’s activities in the first half of 2024 are characterized by stability and targeted development in accordance with the Bank’s business model and strategic goals.

The Bank ended the reporting period with a profit of EUR 9.2 million. In the first half of 2024, the Bank’s net operating income amounted to EUR 21.7 million. The amount of the Bank’s equity capital is EUR 90.6 million, and the total amount of assets is EUR 966.2 million.

In the first half of the year, the Bank attracted new Tier 1 and Tier 2 capital in the amount of EUR 3 million, offering to purchase bonds issued by the Bank and investing funds in subordinated deposit. The increase in the bank's profit in the past half-year was further supported by the successful transaction of a significant volume of real estate.

As of June 30, 2024, the Bank’s liquidity coverage ratio (LCR) has reached 147.67%, and the capital adequacy ratio – 15.95%. Other key indicators of the Bank’s financial performance for six months are also successful: return on equity (ROE) – 21.01% and return on assets (ROA) – 1.94%.

The Bank successfully implements its business strategy focused on providing services to Latvian corporate clients: over the past 12 months, the number of clients – Latvian companies has increased by 33%.

BluOr Bank continues to actively provide loans to companies, offering financing to entrepreneurs from a wide variety of industries. In the first half of the year, the Bank signed new loan agreements worth EUR 88.4 million, of which 93.6% were issued for lending and business development purposes to small and medium-sized enterprises both in Riga and in the regions of Latvia. A significant amount of funding, EUR 21 million, has been allocated for repair and construction of residential buildings, and more than EUR 8 million have been allocated for the development of Latvian manufacturing enterprises.

Total loan portfolio (loans granted and issued) as of June 30, 2024, reached EUR 515.6 million.

As a bank founded by Latvian entrepreneurs, BluOr Bank focuses on long-term relationships with its clients, therefore it continuously improves and develops existing financial services in accordance with the needs of both companies and individuals.

Enclosed: BluOr Bank AS publishes its unaudited interim financial statements for the six-month period ended 30 June 2024.

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