In the second quarter of 2023, LPB Bank achieved positive results in all key financial indicators. The Bank’s success is attributed to an experienced and competent team working to realise strategic goals.

Key financial indicators in the 2nd quarter of 2023 (unaudited):

• Assets: EUR 152.4 million;
• Operating income: EUR 6.63 million;
• Capital and reserves: EUR 32.5 million;
• Profit: EUR 0.97 million;
• Liquidity coverage ratio: 127%;
• Capital adequacy ratio: 22.79%;
• Return on Equity (ROE): 5.98%;
• Return on Assets (ROA): 1.21%.

Robert Christian Schoepf, Chairman of the Board at LPB Bank:

“Continuing to pay special attention to long-term growth, LPB Bank is actively working in the FinTech and E-commerce sectors, which are our initiatives for company profits and the promotion of innovation.

In the first half of 2023, we have invested significant resources in technology development and customer service improvement, providing secure and convenient financial operations for our clients. The traditional banking service in our portfolio is also sufficiently developed and operates successfully, providing a stable foundation for our operations. Combining new technologies and traditional banking services allows us to be flexible and durable in various economic conditions.

This is particularly important in this dynamic time when economic fluctuations and financial market instability have become a daily occurrence. I am very proud of how our team has implemented this integrated approach, and I am eagerly looking forward to what the future will bring us.”

During the reporting period, the Bank supported the European Olympiad of Experimental Science, particularly appreciating initiatives promoting education and student excellence. Support was also extended to the dance group “Lāčplēsis,” an active participant in Latvian Song and Dance Festivals and a distinguished representative of our cultural heritage. The Bank received special recognition from the State Police Main Control Department for successful collaboration during the festival.

Throughout the second quarter of 2023, LPB Bank representatives actively participated in prestigious European conferences and exhibitions: AW Summit Bucharest, Money2020 Europe, Affiliate World Conferences Barcelona. The Bank’s e-commerce professionals’ team participated in the “Payments Management Challenge by Visa” for eight weeks.

We invite you to view LPB Bank financial statement here.