AS "Rietumu Banka"

Rietumu Bank was established in 1992 and now is one of the largest banks in the Baltics States, specialized in retail, private and corporate banking for both residents and non-residents of Latvia.

Services

Retail Banking
Private Banking
Corporate Banking

Products

Financials

Total Assets (2017)
3 001.53 mln EUR  (-13.39%)
Net Income (2017)
35.04 mln EUR  (-56.37%)

In 2017 total assets of AS "Rietumu Banka" were 3 001,53 mln EUR. In 2017 the bank's net income was 35,04 mln EUR.

AS "Rietumu Banka" participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Vesetas iela 7, 1013, Rīga, Latvia
+371 67025555

AS "Rietumu Banka" is headquartered in Rīga.

Bank Identifiers

BIC (SWIFT)
RTMBLV2X
MFI ID
LV000715

Business Summary

Services
retail banking
private banking
corporate banking
Products
multiple currency current accounts
payment cards
savings accounts
time deposit accounts (0.60 - 1.85 %)
consumer loans
mortgage loans
business loans
trade finance
brokerage

AS "Rietumu Banka" provides products and services in the areas of retail banking, private banking, corporate banking. The range of products offered by AS "Rietumu Banka" includes multiple currency current accounts, payment cards, savings accounts, time deposit accounts (0.60 - 1.85 %), consumer loans, mortgage loans, business loans, trade finance, brokerage.

Products

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Time deposit accounts made with AS "Rietumu Banka" are covered by deposit guarantee scheme of Latvia up to 100 000 EUR per depositor. AS "Rietumu Banka" offers the following time deposit accounts.

Updated on 17 December 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
6
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
6
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.20 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.20 %
Deposit Term (months)
12
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.10 %
Deposit Term (months)
18
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.10 %
Deposit Term (months)
18
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.40 %
Deposit Term (months)
24
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.40 %
Deposit Term (months)
24
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.45 %
Deposit Term (months)
36
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.45 %
Deposit Term (months)
36
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.60 %
Deposit Term (months)
48
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.60 %
Deposit Term (months)
48
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.85 %
Deposit Term (months)
60
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.85 %
Deposit Term (months)
60
Investment Amount
100 - 100000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

Financial Positions

Total Assets (2017)
3 001.53 mln EUR  (-13.39%)
Total Equity (2017)
461.62 mln EUR  (-2.11%)

In 2017 total assets of AS "Rietumu Banka" were 3 001.53 mln EUR. Decline compared to the previous period (2016) was -13.39%. The evolution of the total assets of AS "Rietumu Banka" is shown at Chart 1 below.

Total Assets of AS

Chart 1. Total Assets of AS "Rietumu Banka".

Recent changes in total assets of AS "Rietumu Banka" and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 836.9 875.9 +4.65%
Loans 1 210.3 960.7 -20.62%
Total Assets 3 465.6 3 001.5 -13.39%
Table 1. Recent changes in total assets of AS "Rietumu Banka" (mln EUR).

Recent changes in total liabilities of AS "Rietumu Banka" and its main components are shown in Table 2.

2016 2017 % change
Bank deposits 34.0 26.5 -22.08%
Deposits from other clients 2 825.7 2 359.8 -16.49%
Total Liabilities 3 465.6 3 001.5 -13.39%
Table 2. Recent changes in total liabilities of AS "Rietumu Banka" (mln EUR).

Profit and Loss

Net Income (2017)
35.04 mln EUR  (-56.37%)

Recent changes in gross profit of AS "Rietumu Banka" and its main components are shown in Table 3.

2016 2017 % change
Interest Income 90.9 78.3 -13.82%
Interest Charges -21.4 -19.1 -10.67%
Commission Income 68.6 71.8 +4.54%
Commission Charges -27.8 -37.8 +35.98%
Table 3. Recent changes in gross profit of AS "Rietumu Banka" (mln EUR).

In 2017 net income of AS "Rietumu Banka" was 35.04 mln EUR. Decline compared to the previous period (2016) was -56.37%. The evolution of the net income of AS "Rietumu Banka" is shown at Chart 2 below.

Net Income of AS

Chart 2. Net Income of AS "Rietumu Banka".

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Latvia are obliged to participate in Latvian deposit guarantee scheme.

In the case of AS "Rietumu Banka" failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  deposits, current account balance, salary accounts, savings accounts etc.
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of AS "Rietumu Banka" and its components are shown in the table below.

BIC  RTMBLV2X
Bank BIC Code  RTMB
Country Code  LV (Latvia)
Location Code  2X
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of AS "Rietumu Banka" is shown in the table below.

MFI ID  LV000715

Banking Products in Latvia