DnB NORD Banka is a universal bank, and due to successfully implemented strategy, beneficial financial products and high level of customer service the bank has become one of the leading banks in Latvian banking sector.
Despite the strained economical situation both on global and domestic markets the Bank has continued sustainable development in 2008.
Over the last year assets of DnB NORD Banka have augmented by LVL 220 million up to LVL 1.9 billion, and therefore in terms of growth of assets DnB NORD Banka is number three on Latvian banking sector. Consolidated assets of DnB NORD Group amount to LVL 2.2 billion.
In 2008, like before, lending policy adopted by DnB NORD Banka was implied by the economic situation. During 2008 the Bank's loan portfolio grew by 17% up to LVL 1.693 billion, and also in terms of loan portfolio growth rate the Bank maintains stable position among top three Latvian banks.
One of the most important indications that reflect the population's reliance on the bank - amount of deposits - over the last year has drastically augmented, in terms of growth being the second biggest on Latvian banking sector. Amount of deposits attracted by DnB NORD Banka by the end of 2008 amounted to LVL 440 million, which is by 30% more as compared to 2007.
After making of appropriate provisions in compliance with the economic situation and revaluation of securities, in line with rather prudent credit risk assessment policy DnB NORD Banka's profit in 2008 amounted to LVL 6.2 million.
Considerably has grown the number of new customers – among the customers of DnB NORD Banka number of private individuals in 2008 has grown by 8% or 13.9 thousand new customers, and number of corporate customers has grown by 21% or 1.8 thousand.
Rendering of high quality services to both private individuals and legal entities, improvements in range of investment banking products and services, as well as mitigation of eventual financial risks are outlined as the principal directions of the Bank's operational activities in 2009 as well.
In 2008 DnB NORD Banka received the award from the prestigious international magazine "Euromoney" as the best bank in Latvia; besides, at the end of year was laid the cornerstone of DnB NORD Banka new office building in the neighborhood of Skanstes Street in Riga.
Combining know-how, expertise and infrastructure of both the biggest bank in Northern Germany NORD/LB and Norwegian leading bank DnB NOR the newly established DnB NORD bank is providing full scope of innovative and competitive financial services through its large branch network in the strategically important region of Northern Europe, i.e. Denmark, Finland, Estonia, Latvia, Lithuania, Poland, Germany, Norway, and Sweden.