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Saturday, 30.05.2015, 03:21
In the first quarter of the year 2015, most credit unions made a profit to substantially improve their performance year on year; however, the quality of loans deteriorated. The ratio of specific provisions against loans, formed by credit unions, to loans increased, while non-performing loans, according to 1 April 2015 data, accounted for more than a fourth of total loans, reported BC the Bank of Lithuania.
Keyword tags: Financial Services, Legislation, Lithuania, Loan
In the first quarter of 2015, joint-stock ABLV Bank posted profit of EUR 20.1 million. Other major performance indicators of the bank remained high as well, informs LETA.
Saeima in Latvia decided in the final reading today to pass amendments to the Consumer Rights Protection Law, stipulating stricter regulations on the so-called "quick" loans, including a prohibition to issue loan agreements during the nighttime hours.
The amount of newly-issued loans in the first quarter this year indicates that Latvian companies have started investing again. Swedbank would gladly issue EUR 1 billion in loans if companies were ready to accept it, CEO of Swedbank Maris Mancinskis said in an interview with LETA.
The total volume of loans and leases issued to Estonian companies and households by banks operating in Estonia was 3% larger in April 2015 than a year earlier, Estonian central bank Eesti Pank announced, cites LETA.
The Estonian Krediidipank informed that the group's profit in the first quarter of this year amounted to nearly 720,000 euros while in the first quarter last year, the banking group had a loss of nearly 90,000 euros, reports LETA.
The instant short-term loan provider 4finance earned EUR 4.6 million in Latvia in 2014, reports LETA, according to the company's announcement.