Financial report of Rietumu Banka and the Group for 2025, along with the auditor’s opinion issued by company KPMG Baltics, has been published.
In 2025, the Rietumu Banka issued new loans totalling EUR 187 million and approved additional loans amounting to EUR 110 million. As of 31 December 2025, the total loan portfolio stood at EUR 652 million. The bank continues to focus on developing high value-added services, with particular emphasis on financing large and medium-sized enterprises.
According to the report, as of 31 December 2025, the bank’s assets were equal to EUR 1.4 billion, customer deposits – EUR 987 million, and capital and reserves – EUR 312 million.
Rietumu Banka is consistently implementing its business strategy, strengthening position as one of the leading financial service providers in the Baltics. In 2025, the bank maintained stable growth and significantly increased its number of clients.
The bank’s capital adequacy and liquidity coverage ratios, which reflect its financial stability, remain at a high level: the capital adequacy ratio stands at 22.51%, and the liquidity coverage ratio is 273.70%, exceeding the regulatory requirement (100%) several times.
In 2025, influenced by the geopolitical situation, a first instance court ruling was issued in legal proceedings initiated by the Prosecutor General’s Office of the Russian Federation. The Moscow Arbitration Court ruled to confiscate, in favour of the Russian Federation, the Bank’s ownership stakes in subsidiaries registered in Russia, shares in companies owned by other persons, and real estate assets. The claim is related to decisions adopted by the Republic of Latvia concerning the Russian Federation and compliance with anti-Russian sanctions.
Over recent years, the Rietumu Banka has made the necessary capital adjustments and provisions related to assets remaining in Russia. Prioritizing safety and stability, following the first instance ruling of the Russian court, Rietumu Banka established additional provisions of EUR 50.7 million for assets exposed to Russian country risk, which impacted the financial results for 2025.
As a result of this court ruling, the bank closed the year with a loss of EUR 33 million after tax. Without this ruling, the bank’s result for 2025 would have been a pre-tax profit of approximately EUR 19 million.
Thus, any final outcome of the legal proceedings in Russia will not affect the bank’s day-to-day operations, the implementation of its future strategy, or compliance with regulatory requirements.
Rietumu Banka’s activities in the territory of Russia have always been lawful and in compliance with applicable regulations. The bank strongly disagrees with the Russian court’s decision, and is prepared to continue to appeal it and to use all legal instruments to defend its legitimate interests.
As
emphasized by the Chairman of the Board of Rietumu Banka Jeļena Buraja:
“Every large company goes through different stages of development, and this
year, after many years of profit, the financial statements reflect a loss. This
episode in Rietumu Banka’s history does not and will not have a significant
impact on its operations and development. We will certainly continue to fight
for justice, while at the same time, as a stable and responsible credit
institution, we prioritize security above all. Therefore, we have prepared for
any scenario, and this is precisely why losses are currently reflected in our
report. Most importantly, we continue to grow and move forward, and we are the
largest and strongest locally owned bank in Latvia. We will further expand our
operations in Latvia and Europe, finance ambitious business projects, and, as
always, support our clients.”
Rietumu Banka is the largest locally owned credit institution in Latvia and one of the country’s leading supporters of culture and society. It actively supports culture and the arts, education, healthcare, sports, as well as children and youth initiatives. Rietumu Banka is a patron of the Dailes Theatre and the Zuzeum Art Centre, regularly cooperates with the Latvian National Museum of Art, the Latvian Hockey Federation, the basketball club VEF Rīga, educational institutions, and provides support in the healthcare sector, among others.
The report is available on our website.