International Internet Magazine. Baltic States news & analytics
Monday, 05.12.2016, 06:24
VIA SMS Group non-bank lender has launched a peer-to-peer lending platform, Viainvest, reports LETA.
Keyword tags: Financial Services, Latvia, Loan
In October, the increase on all loans granted to households is worth noting: housing, consumer and all other loans were on the rise. Such an increase was observed for the first time after a drop over several consecutive years. The total balance of domestic loans, however, dropped slightly in October, with business lending dropping slightly. With finances growing in the bank accounts of both non-financial companies and households, the balance of deposits attracted by banks grew.
At the end of September this year, the Latvian Credit Register showed 144,232 persons with overdue liabilities, down 2.6 % from the end of 2015 ad also by 0.8 % less than at the end of June this year, according to the Bank of Latvia, which keeps the register writes LETA.
The share of loans in arrears in Latvian banks' loan portfolio decreased somewhat in the first nine months of this year, reaching 10.8 %, the Financial and Capital Market Commission (FCMC) informed LETA.
Lietuvos Energija (Lithuanian Energy), Lithuania's state-run energy holding company, intends a bond issue of nominal value of 50-100 million euros in mid-2017 linked with renewable energy projects it is working on. The group's CEO Dalius Misiunas says the new financial instrument will allow completing the projects without grants and furthermore employ people's savings, informs LETA/BNS.
The September developments in the relationship between banks and loan recipients confirmed the truth of the old Biblical proverb 'to the hungry soul every bitter thing is sweet.' Even the small rise in granted loans, strengthening the health of the loan-hungry Latvian economy, could be considered a sweet morsel. In September, the total domestic loan portfolio, including the amount of newly granted loans, and lending to non-financial companies both grew. With the finances in bank accounts of enterprises on the rise, the balance of deposits attracted by banks also grew.