International Internet Magazine. Baltic States news & analytics
Thursday, 23.10.2014, 08:55
The profit of joint-stock Swedbank in Latvia for the nine month period 2014 amounted to EUR 88 million compared to a profit of EUR 81 million for the nine month period of 2013. Swedbank Lithuania's profit for the first nine months 2014 was 3% up year-on-year and amounted to LTL 291 million (EUR 84.347 million) and Swedbank’s Estonian subsidiary earned a total of 119.4 million euros in nine-month profits this year, informs LETA.
Keyword tags: Baltic, Banks, Deposits, Financial Services, Loan
During the first three quarters of 2014, LHV Group earned a total of 5.7 million euros in net profits, writes LETA/Äripäev.ee.
The corporate debt was 3.3% larger at the end of the second quarter of the year 2014 than it was a year earlier, Estonia's central bank Eesti Pank said in a fresh review, cites LETA.
Lithuania's long-term debt security interest rates in the secondary market reached record lows, and the euro adoption is one of the main reasons which drives the growing trust of the international financial market's participants in Lithuania, euro.lt reports.
The non-banking lending sector recorded a significant decrease in the first half of the year 2014 as compared with the first six months of 2013 – the amount of loans fell 31% and the number of loans 20%, according to data provided by the Latvian Association of Non-banking Lenders, cites LETA.
Moody’s outlook for the Baltic banking system has been changed to negative. The outlook expresses Moody’s expectation of how bank creditworthiness will evolve in this system over the next 12-18 months.
Base interest rate will become by 1% more expensive since 2015 when loans obtained in the litas will be converted to the euro, informs LETA/ELTA.