International Internet Magazine. Baltic States news & analytics
Sunday, 07.02.2016, 10:29
Loans worth EUR 180.59 million were written off by Latvian banks in 2015, informs LETA, according to information posted on the Financial and Capital Market Commission's website.
Keyword tags: Banks, Financial Services, Latvia, Loan
The Estonian bank of the Norwegian financial services group DNB has posted a net profit of 3.4 million euros for the year 2015 while the group's total net profit was 2.6 billion euros, informs LETA/BNS.
SEB Banka’s operating profit after taxes and provisions in 2015 reached EUR 35 million which is a 51% rise from 2014, the bank said. SEB Bankas in Lithuania said that its full-year net profit fell to 62.1 million euros in 2015, and Estonian units of the Swedish banking group SEB earned a profit of 75 million euros last year, which corresponds to the year-earlier result, informs LETA/BNS.
The Lithuanian government agreed on February 3rd to lend another 420 million euros to the debt-ridden social insurance fund Sodra to help balance its cash flows, informs LETA/BNS.
Latvia's Swedbank in 2015 earned EUR 121 million in profit, which is by 7% more than in 2014, the company's spokeswoman Vineta Savicka told LETA. Swedbank in Lithuania said on Tuesday that its net profit last year fell by 21% to 85 million euros and the Estonian operation of Swedbank earned a net profit of 59.2 million euros in 2015, reports LETA/BNS.
Danske Bank generated EUR 3.57 million in net profit in Latvia last year, the bank said in a statement to the media. The Lithuanian branch of Danske Bank, said that its net profit from core activities of corporate and private banking last year came in at 11.9 million euros, down 19.2% from 16.8 million euros in 2014. The net profit of Danske Bank Estonia dropped 10% year on year to 8.8 million euros in 2015, reports LETA/BNS.
The European Investment Fund (EIF) and UniCredit Leasing (UCL) have signed the first loan agreement in the Baltics under Progress Microfinance with funding from the European Union, providing for lending EUR 18 million in total to 1,000 micro-entrepreneurs in Estonia, Latvia and Lithuania.