Exactly, this is not an ordinary bank. Understanding the customer’s needs and experiences is one of our core operating principles. We do not apply a standard approach for achieving customer goals, each solution is found by thoroughly analysing each situation individually and following the global trends in the industry.
Signet Bank AS
Antonijas street 3,
Riga, LV 1010, Latvia
Phone: +371 67 080 000
Fax: +371 67 080 001
E-mail: [email protected]
Monday to Friday
9:00 a.m. – 17:30 p.m
Signet Bank plans to issue EUR 80 million in loans to businesses and individuals in Latvia this year, informs the bank’s CEO Roberts Idelsons.
At this time, we are seeking ways to support Latvian producers in overcoming adversity and maintaining their competitive performance. We have access to sufficient resources and capital to assist entrepreneurs who need them.
We know that any crisis, including the current one, presents its own set of challenges, but at the same time brings new opportunities. We regularly analyse how this crisis is affecting our clients’ businesses, evaluate future risks and seek out suitable financial solutions for each client to weather the crisis.
Roberts Idelsons, CEO at Signet Bank
Signet Bank’s plan for the year 2020 is to continue expanding operations in its target markets – Latvia and other European Union member-states – with a focus on the domestic market, which currently accounts for over two-thirds of the bank’s deposits and revenues.
Thanks to the funds available to high net worth clients, we are able not only to finance projects with assets available to the bank, but also to syndicate major club deals directly involving our clients – this involves both loans and bond issues.
2019 was a financially successful year for the bank. Net fees increased 34% year-on-year (from EUR 3.4m to EUR 4.6m), while net interest income rose by 14% (from EUR 3.4m in 2018 to EUR 3.9m in 2019). Net comprehensive income reached EUR 1.1 million (compared to net comprehensive expense of 57 thousand EUR in 2018). The bank maintains a conservative risk profile: its capital adequacy ratio at the end of 2019 stood at 23.27%, with a liquidity ratio of 67.59%. In 2020, Signet Bank will continue putting available capital to good use, particularly by growing the bank’s credit portfolio on the local market.