Baltic, Banks, Deposits, Financial Services, Loan

Profit before provisions in Latvia reached EUR 25.2 million, which is 7% more than in the respective period in 2014. From January until end-June, the company made provisions in the amount of EUR 5 million, which is 41% less than in the respective period last year, SEB banka says.

In the first half of the year, the income of SEB Group in Latvia reached EUR 50 million, which is 1% more than in the first two quarters in 2014. Expenditure reduced by 5%, as compared with the first six months in 2014, reaching EUR 24.8 million.

The total amount of deposits at SEB banka at the end of June reached EUR 2 billion, which is 6% less than at the end of the second quarter of 2014.

The total credit portfolio at the end of June was EUR 2.5 billion, which is 6% less than at the end of the second quarter of 2014.

In the first six months of this year, the number of newly-issued loans reached 4,835 in the amount of EUR 208 million, which is 27% less than one year ago. 87% of new loans (EUR 180 million) were issued to enterprises.

SEB Pank's operating profit rose in the first half of the year in Estonia from SEK 353 million to SEK 386 million; in euros the increase was 5% – from EUR 39 million to EUR 41 million, LETA/Postimees Online reports.

SEB Pank operating revenue in Estonia grew from last year's SEK 603 million to SEK 645, reported the enterprise. Local operating costs increased from SEK 263 million to 285 million.

The SEB Estonian units ended the second quarter of this year with EUR 18.9 million profit, while at the same time last year the profit was EUR 18.4 million. Operating income in the second quarter amounted to EUR 34.1 million, compared with EUR 33.6 million a year earlier, and operating expenses remained at the same level with the previous year, amounting to EUR 15.1 million.

According to preliminary data, unaudited net profit earned over the first half-year of the year 2015 by AB SEB Bankas is EUR 36.9 million and by AB SEB Bankas Group is EUR 32.7 million, the bank said in a statement.

The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the first half-year of the year 2014, unaudited net profit earned by AB SEB Bankas was EUR 43.0 million and by AB SEB Bankas Group – EUR 43.0 million.