In the 3rd quarter of 2015, the Bank continued investing funds in business development in accordance with the new business model, which was adopted and approved in April this year. The Bank finalized its work on the new TKB Lifestyle service, and on July 22 launched the new website lifestyle.tkb.lv where information is posted about exclusive offers and privileges for TKB cardholders, latest news from Bank's partners, and the use of TKB Concierge service. Since one of the Bank's objectives is to improve customer service providing current and prospective customers with exclusive products and services, on 1 August, the Bank began to offer its customers MasterCard Gold credit cards on particularly advantageous terms. Besides, since August 1, the use of AS TRASTA KOMERCBANKA payment cards Maestro and MasterCard Classic has been more convenient and handier because card owners can now withdraw cash at no additional charge from ATMs of AS Swedbank, the largest ATM network in Latvia. One of the Bank’s current priorities is to stay abreast and make use of cutting edge technologies on a daily basis, thus from August 17, the Bank offers for its online banking transactions a new code calculator, Digipass SLIM.

The Bank's assets in the 3rd quarter of 2015 amounted to EUR 524.90 million, which is by EUR 56.21 million less than the final figure of 2014. Accordingly, by the end of the reporting period, the volume of attracted deposits was EUR 435.67 million, but the Bank's loan portfolio reached EUR 98.98 million. The Bank ended the 3rd quarter of 2015 at a loss of EUR 2.44 million, basically due to the investments made by the Bank in the business development and change of its strategy. The Bank believes that these investments will serve as a sound basis for Bank's long-term development and strategy. Thanks to the prudent dividend payout policy in the pre-crisis years, now the Bank has at its disposal the capital reserves of retained earnings in the amount of EUR 13.12 million. The Bank's capital and reserves as at 30 September 2015 amounted to EUR 39.60 million.

In order to strengthen the capital base, at the beginning of the quarter, the Bank decided to increase its share capital by EUR 15,000,000, issuing additionally 15,000,000 voting shares with the nominal value and sale price of EUR 1.00 per share. As a result of the fifteenth share issue, the share capital of AS TRASTA KOMERCBANKA will amount to EUR 35,641,316 and consist of 35,641,316 registered shares. The due date by which the shares must be paid up is 10 March 2016.

The Bank's consolidation group consists of the subsidiary companies: “TKB Līzings” and its subsidiary “TKB Leasing Tajikistan”, “TKB LU” and “Project 1”; and also “Heckbert C7 Holdings” and its subsidiary „Ferrous Kereskedelmi KFT”. The amount of Group’s assets as at the end of the reporting period was EUR 513.87 million, which is by EUR 60.26 million less than the final figure of 2014. The Group ended the 3rd quarter of 2015 at a loss of EUR 4.37 million.

This financial report was approved by the Board of the Bank on November 25, 2015 and it is available on the Bank’s website at www.tkb.eu.

AS “TRASTA KOMERCBANKA” is one of the most experienced commercial banks in Latvia which has been working in the financial market since 1989. The bank offers a wide range of financial services for local and international clients. The consolidated group has also representative offices in Russia, Ukraine, Belarus, Kazakhstan, Tajikistan, Azerbaijan, Hong Kong and a branch in Cyprus.

Elīna Bikuļča
Public Relations Specialist
Phone: +371 67027785
fax: 67027700
elina.bikulca@tkb.lv