BlueOrange Bank successfully completes 2021 and publishes the audited annual report
March 15, 2022
According to audited data, the Bank ended 2021 with a profit of EUR 9.8 million. The Bank’s total operating income amounted to EUR 27 million during the reporting period. The Bank’s equity amounted to EUR 79.4 million. The Bank’s total assets have increased by 22.9 % or EUR 166 million, reaching EUR 893 million at the end of 2021.
At the end of 2021, the Bank’s liquidity reached 90%. Other key financial performance indicators of the Bank were successful as well – return on equity (ROE) 13.6 % and return on assets (ROA) 1.2 %.
In 2021, the Bank purposefully continued to work in its strategic priority business line — servicing and financing of businesses, which was also demonstrated by the increase in lending: at the end of the year, the total loan portfolio was EUR 344 million, which represents a 14% increase compared to the previous year. Out of that, new loans issued in 2021 amounted to EUR 134 million, which resulted in a 30% increase of lending income compared to the previous year. 90% of loans issued during the reporting period were granted to Latvian and Baltic companies. Thus, the Bank has contributed to both the development of individual industries and the acquisition of new export markets, as well as the use of new business opportunities during this difficult period for the economy of Latvia. It should be noted that the Bank’s loan portfolio already contains several sustainable projects aimed at protecting the environment and climate.
More information on the Bank’s activities in 2021 is available here.
The full audited annual report of BlueOrange Bank is published here.
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