International Internet Magazine. Baltic States news & analytics
Monday, 02.05.2016, 13:40
Parliamentary Secretary, Ministry Edgar Putra thinks that the bank or the financial services industry Latvian should evolve in quality, rather than quantity direction, so that Latvia, like Switzerland, after some time be able to say that our banks work as precisely as a Swiss clock. Politician points to the important role of banks in economic growth, while developping loans.
Keyword tags: Analytics, Banks, Direct Speech, Economics, EU – Baltic States, Financial Services, Latvia
Latvia's distressed asset manager Reverta last year recovered EUR 61.3 million from the restructuring and sale of distressed assets. Reverta's loss amounted to EUR 45.5 million compared to EUR 57.5 million in loss in 2014, according to the comapny's audited financial report, cites LETA.
Operating income of Danske Bank Estonia increased in the first quarter of 2016 by 15% year on year to 5.6 million euros and net profit grew 47% to 3.2 million euros. Lithuanian branch of Danske Bank said that its first-quarter net profit from core activities of corporate and private banking fell to 3.3 million euros and in Latvia Danske Bank closed the first quarter with EUR 0.92 million in profit, informs LETA/BNS.
The Latvian Finance and Capital Market Commission on Thursday decided to register the base prospects of the issue of ABLV Bank bonds, which provides for issue of debt securities worth EUR 400 million or the equivalent amount in US dollars, informs LETA.
For the first time, Latvian agency enters European Fintech Awards as TOP3 Innovative Banking company28.04.2016
In 2016, 413 European companies were nominated for European Fintech Awards TOP100 that was held April 14 at the ABN AMRO Head Office in Amsterdam. For the first time company from Latvia – UX Design Agency entered TOP3 in category of Innovative Banking Software, and was exclusively selected to present their approach at Fintech Awards 2016, informed BC the Latvia Institute.
In the first quarter of the year 2016, the Latvian banking sector earned EUR 106.1 million in profit, the Latvian financial regulator, the Financial and Capital Market Commission, said LETA.
The supervisory board of the Bank of Estonia decided on April 27th to transfer into the state budget a fourth of the net profit of 30.1 million euros the central bank earned last year or 7.5 million euros and to use the remaining three fourths to strengthen the bank's capital, informs LETA/BNS.