OREANDA-NEWS. September 18, 2013. In September, JSC “Regionala investiciju banka” (hereinafter referred to as “RIB”) will be celebrating its twelfth anniversary. At the point of starting another year, RIB wishes to thank its Customers for the trust and lasting cooperation. The greatest satisfaction for us is every new Customer brought to us by an already existing Customer because over the previous 12 years we have obtained 4,500 loyal Customers.

RIB offers a basic package of all financial services, and we are very happy to be offering our Customers such products as the MasterCard exclusive payment card World Elite, financial instruments service “e-Broker” and documentary operations. In the beginning of 2014, the Bank will offer to its Customers a new Internetbank which will be more convenient for the Customers’ everyday transactions.

During these 12 years, the Bank’s assets have reached EUR 424.47 million. RIB has had an operational profit throughout the whole time of its operation. During the first eight months of this year, RIB has earned EUR 6.2 million. According to regulator requirements, at the end of the first half Bank formed bad debt reserves, which affected the financial results for the first six months of EUR -3.27 million, results as on the end of August are only EUR -262.7 thousand. September this year bank will finish with a substantial profit.

The total amount of Customer funds has not changed this year, however, the assets reduced in quantity compared to the end of the previous year, because the Bank launched a new service Trust Transactions. Funds kept in trust accounts were moved from the Bank’s balance sheet to off-balance, therefore the deposit portfolio is EUR 371.35 million as on 31 August 2013 which is by EUR 62.48 million less.

Over the whole period of RIB’s operation, the number of RIB’s employees has gradually increased every year, and, at our twelfth anniversary, our Bank’s team already consists of 130 professionals. RIB’s Management thanks also its employees who have helped to improve the package of services and foster the growth of RIB over the previous years.