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A/S Latvijas Unibank (LVUD)


Thursday 20 July, 2000

A/S Latvijas Unibank

Interim Financial Stmnts

A/S Latvijas Unibanka
20 July 2000

                  FOR THE SIX-MONTHS' PERIOD ENDED 30 JUNE 2000

On July 19, Unibanka signed interim condensed financial statements for the
period ended 30 June 2000 which are reviewed by the accounting firm

Latvijas Unibanka has successfully completed the first half of the year 2000.
This is showed by its six-months' profit of 5.05 million lats.  Unibanka is
going in line with its plans to make a profit of 10.7 million for this year.

The Bank's profit before taxes in the first six months of year 2000 was 6.47
million lats, which is 12.4 per cent more than in the same period of 1999  (5.76
million lats). In 1999 the Bank paid less taxes due to the losses  incurred in
1998.  Unibanka's return on assets and return on equity were 2.8  per cent and
26.5 per cent, respectively, in the reporting period (3.3 per rent and 33.0 per
cent, respectively, in 1999).

In the six months the Bank's assets increased by 18.3 per cent to 396.6 million
lats.  At the end of June of this year Unibanka had the largest loan portfolio
in the sector of Latvian commercial banks, with an increase of 6.7 per cent to
229.3 million lats (gross) within the six months, furthermore its good quality
was retained.

The amount of deposits with Latvijas Unibanka has experienced a considerable
increase.  At the end of June customer deposits reached 252.7 million lats,
accounting for 29.9 per cent more than at the beginning of the year.

According to the interim condensed financial statements Unibanka' s capital  and
reserves amounted to 39.3 million lats as at June 30 of 2000. Capital  adequacy
ratio, accounting for 16.4 per cent (the Bank of Latvia normative is  10 per
cent), is a good evidence to Unibanka's stability and capacity for  further

Unibanka's financial performance in the first half of 2000 shows that it has
retained a stable place in Latvia's banking sector.

The decision to prepare interim condensed financial statements was based on the
consideration that the Bank as a public joint stock company with a leading  role
in the market should provide regular and independent information on 
its financial position.

Aiga Aizpuriete
Public Relation Manager
Latvijas Unibanka tel. +371 7 215 502


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