Banks, Financial Services, Latvia, Loan
International Internet Magazine. Baltic States news & analytics
Wednesday, 24.04.2024, 03:27
SEB in Latvia concludes 2014 with EUR 23.2 mln net profit
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Profit before making provisions in 2014 reached EUR 46.2 million, which is 30% less than in 2013. In 2014, the bank made provisions in the amount of EUR 19.8 million, which is 42% less than in the previous year. Thus, profit after taxes and provisions in 2014 reached EUR 23.2 million.
SEB Group in Latvia's income in 2014 amounted to EUR 99.7 million, which is 18% less than in 2013.
Costs reduced by 3% in 2014, as compared with 2013. In 2014, the Group's costs totaled EUR 53.4 million.
The total credit portfolio in end-December 2014, amounted to EUR 2.5 billion, which is 11% less than at the end of 2013. In 2014, the amount of newly-issued credits reached 12,700, which makes up about EUR 614 million – 23% less than one year ago. 87% or EUR 536 million of newly-issued funds were allotted to companies.
The total amount of deposits at SEB banka at the end of December 2014, reached EUR 2.1 billion, which is 1% less as compared with the end of 2013.
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