Bank operations in the second half of 2017: continued growth

August 30, 2017

Unaudited financial data for the first half-year reflect EUR 4 million in profits, which is a EUR 2.8 million year-on-year increase. The primary indicators of the bank’s financial stability are exemplary as always – liquidity at the end of the reporting period was at 74%, capital adequacy at 21%.

In these six months, BlueOrange has substantially expanded the range of its products and services. The number of clients has also increased, by nearly 10%, while the number of active cardholders has increased by 26%.

Other financial figures also reflect continued improvement. The bank’s credit portfolio is increasing – with EUR 53 million in loans granted to clients since the year began, this growth outpaces the first half of 2016 by 7%.

Investments in the bank’s technological projects have been expanded substantially during the reporting period, aiming to boost the availability of bank services on the internet. An advanced, highly functional mobile app has been released. APIs are being developed for the bank systems interface, which will allow cooperation with fintech companies. Investments in continued growth and development of the bank as a modern financial institution are also ongoing.

Having begun to actively seek cooperation with E-Commerce companies, the bank has been working with local businesses and partners to develop and provide full-cycle services for merchants, including the installation and operation of POS terminals.

During the reporting period, the bank launched multiple new products and services on the Latvian market, including very unique ones. For instance, BlueOrange is the first bank to offer free service to retail clients. BlueOrange is the first in Latvia to come to its clients. Furthermore, the bank opened a new Client Service Centre in the heart of Old Riga, supplementing the bank’s convenient online communication with a way for clients to engage face to face with specialists.

In the second quarter, the bank started promoting a special client loyalty programme, BlueOrange Life. This marks the first time in Latvia that a loyalty programme provides money back on purchases, and new clients have been very satisfied with this opportunity.

The bank continues to invest in its development, so that BlueOrange products are easier and more convenient to use for businesses and individuals alike.

Information prepared by

Ingrīda Šmite,

Head of the Public Relations and Communication Department