Banks, Financial Services, Latvia, Statistics

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 04:07

Latvian banking sector shows EUR 268.4 mln in profit in H1

BC, Riga, 28.07.2016.Print version
The Latvian banking sector made EUR 268.4 mln in aggregate profit in the first half of this year, according to preliminary data released by the Financial and Capital Market Commission (FCMC), writes LETA.

All 16 Latvian banks and four of the eight branches of foreign banks closed the first half of this year in the black. Their aggregate share in Latvian banking assets was 98.3%.


Compared to the respective period last year, the banking sector's profit has risen by 22%. In the first half of this year the banking sector profit was EUR 219.6 mln.


Deposits in the Latvian banks in June rose 0.3% to EUR 22.3 billion with resident and non-resident deposits rising at the same rate.


The banking sector's loan portfolio increased 0.6% or EUR 95 mln in June with the portfolio of resident corporate loans increasing 0.3% or EUR 21 mln and the portfolio of nonresident loans growing 1.1% while the portfolio of resident household loans remained unchanged month-on-month. The total banking sector’s loan portfolio exceeded EUR 15 bln at the end of the first half of this year.





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