Banks, Deposits, Financial Services, Latvia

During the first month of last year, the banking sector posted EUR 45.7 million in profit.

This past January, fourteen Latvian banks and five foreign banks' branches in Latvia were profitable. Their total share of the banking sector's assets in Latvia is 88.9%.

The total amount of the banking sector's assets fell 0.2% or EUR 68.4 million to EUR 30.7 billion at the end of January.

The amount of deposits in banks decreased 1.5% or EUR 325 million in January. The amount of non-resident deposits increased 4.2% or EUR 477 million, whereas resident deposits shrank 7.5% or EUR 802 million.

The banking sector's total loan portfolio increased 0.9% in January.

As reported, the Latvian banking sector operated with a profit of EUR 311 million last year.