Teksts
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In the 4th quarter of 2015, the Bank continued to work investing
money in its business development according to the new business
model. Taking in account the growing requirements of the
supervisory authority of Latvia and the EU authorities in the field
of the Prevention of Money Laundering and Terrorism Financing (AML
Policy), and following the plan of its internal restructuring
Trasta komercbanka decided to improve the internal control system.
To this end, the Bank has invested in both IT and human resources,
has tightened client supervision, as well as has improved the
processes of identification and prevention of possible AML risks.
Several young professionals with wide experience in this field and
relevant international certificates have started to work in the
Bank's AML team. A number of AML risk prevention related
processes, such as risk assessment, monitoring and prevention;
assessment and approval of clients, have been improved and
enhanced.
Just like in the previous quarters of 2015, one of the priorities
in the work of the Bank is the introduction of new technologies. In
the 4-th quarter, the CRM system was launched, which will be
further developed in 2016.
The Bank's assets in the 4th quarter of 2015 amounted to EUR
432.12 million, which is by EUR 148.99 million less than the final
figure of 2014. Accordingly, by the end of the reporting period,
the volume of attracted deposits was EUR 343.53 million, but the
Bank's loan portfolio reached EUR 96.31 million. The Bank ended
the 4th quarter of 2015 at a loss of EUR 4.66 million. 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 10.9 million. The Bank's capital and reserves
as at 31 December 2015 amounted to EUR 37.34 million.
In order to strengthen the capital base, in July 2015, 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
420.96 million, which is by EUR 153.17 million less than the final
figure of 2014. The Group ended the 4th quarter of 2015 at a loss
of EUR 6.21 million.
The management confirms that the consolidated financial statements
and the separate financial statements set out on pages 4 to 26 for
the period from 1 January 2015 to 31 December 2015 have been
prepared consistently applying relevant accounting methods and the
management’s judgments and estimates in relation to the preparation
of these statements are reasonable and prudent. The management
confirms that the applicable International Financial Reporting
Standards have been used in the preparation of the financial
statements and that these financial statements have been prepared
on a going concern concept basis. The purpose of the statements is
to present comprehensive information regarding the financial
standing of the Bank and the Group, performance results, and the
Bank's activities -related risks.
Events after balance sheet date
The Financial and Capital Market Commission (FCMC) on 22.01.2016
decided to impose restrictions on the activities of the Bank,
forbidding it from performing debit transactions in any currency,
including through online banking, ATMs and by cash, with clients in
the amount that exceeds EUR 100 000 per depositor.
The Bank is working strenuously to eliminate the shortcomings in
its work identified by the FCMC, the Bank continues to work in the
ordinary and usual course, provides services and fulfils
obligations to customers, complying with the restrictions of the
FCMC requirements. The Bank is a solvent entity which continues to
provide services to customers within the scope of the restrictions
applied by the FCMC (up to EUR 100 000).
This financial report for the 4th quarter of 2015 has not been
audited and it has been prepared based on unaudited financial
statements for this period.
This financial report was approved by the Board of the Bank on
February 22, 2016 and it is available on the Bank’s website at
www.tkb.eu.
Elīna Bikuļča
Public Relations Specialist
Phone: +371 67027785
fax: 67027700
elina.bikulca@tkb.lv
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