Full highlights

Group, EUR millions

  H1 2018  H1 2017 Change 12m 2017 12m 2016 Change
Net interest income 39.9 36.2 10% 75.4 66.2 14%
Net fee and commission income 17.0 19.3 (12%) 36.7 40.1 (9%)
Operating income 65.3 64.4 1% 132.5 134.3 (1%)
Net credit losses (1.9) (7.3) (75%) (4.4) (10.1) (56%)
Adjusted net profit* 18.0 15.0 20% 31.5 31.1 1%
Adjusted ROA* 1.13% 0.90% 0.23pp 0.94% 0.99% (0.04pp)
Adjusted ROE* 13.1% 11.5% 1.7pp 11.9% 13.3% (1.4pp)
Cost to income ratio 69.1% 64.3% 4.8pp 64.4% 60.4% 4.1pp
Cost of risk ratio 0.3% 1.1% (0.8pp) 1.0% 0.9% (0.1pp)

Group, EUR millions

  H1 2018 H1 2017 Change 12m 2017 12m 2016 Change
Total assets 3,043 3,291 (8%) 3,312 3,350 (1%)
Loans to public 1,360 1,323 3% 1,331 1,241 7%
Deposits and borrowings from customers 2,649 2,910 (9%) 2,880 2,919 (1%)
Shareholders' equity 279 270 3% 269 254 6%
Loan-to-deposit ratio 51% 45% 6pp 46% 42% 4pp

 

* H2 2017 adjusted for one-time EUR 23.2 million write-off of deferred tax assets in Latvia due to change in the country’s corporate income tax regime and EUR 7.7 million reversal of impairment on property and equipment. 12m 2017 adjusted for one-time expense in the amount of EUR 23.2 million due to the write-off of deferred tax assets in Latvia due to change in the country’s corporate income tax regime (the Group and the Bank), EUR 7.7 million reversal of impairment on property and equipment (the Group only). 12m 2016 adjusted for one-time income in the amount of EUR 11.3 million due to sale of Citadele’s share in Visa Europe to Visa Inc (the Group and the Bank), EUR 5.1 million income on dividends from subsidiaries (the Bank only) and EUR -1.8 million loss on sale of a single AFS (former HTM) security exposure before maturity (the Group and the Bank).