Compared to 2012, the total amount of deposits at SEB Bank in Latvia grew 19% to EUR 2.12 billion in 2013.
The group's loan portfolio totaled EUR 2.92 billion, remaining at the level of early 2013. The group's revenue reached EUR 120.9 million in Latvia in 2013, 8% more than in 2012, while costs grew 2% to EUR 55 million.
SEB Group in Latvia earned EUR 65.8 million in operating profit before provisions in 2013, a 14% increase on 2012.
Its capital and reserves amounted to EUR 435.8 million as of December 31, total assets – EUR 4.27 billion.
The group's capital adequacy ratio was 15.11% as of December 31, liquidity ratio – 49.9%.
The Estonian units of SEB bank ended the year 2013 with a profit of 73.9 million euros, which is by 0.8 million euros more than in 2012, LETA/Public Broadcasting reports.
The bank's revenues fell in a year by 1.4 million euros to 132.1 million euros. Loan loss allocations were reduced by 3.7 million euros.
In Latvia, SEB's profit grew by 19% to 19 million euros and in Lithuania, it doubled the profits to 63 million euros.
SEB Estonian unit head Riho Unt said that Estonia's 2013 economic growth was more modest than expected. "The growth that was several times smaller than the potential, was caused by the poor economic growth of our main export partners. The end of the year was more optimistic, allowing to think that the Estonian economic growth bottomed out in the third quarter."
According to preliminary data, unaudited net profit earned over the year 2013 by AB SEB Bankas is LTL 212.3 million (EUR 61.5 million) and by AB SEB Bankas Group – LTL 212.3 million (EUR 61.5 million). The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania, says the bank in a statement, cites LETA/ELTA.
Over the year 2012, audited net profit earned by AB SEB Bankas totaled LTL 87.6 million (EUR 25.4 million) and by AB SEB Bankas Group – LTL 84.9 million (EUR 24.6 million).
In November 2013 AB SEB Lizingas was merged with AB SEB Bankas therefore AB SEB Bankas results of the year 2012 are presented including the result of AB SEB Lizingas.
