Banks, Economics, Financial Services, Latvia, Statistics

In August 2016, the monetary financial institutions made EUR 40.2 mln in aggregate profit.

As at August 31, 2016, the aggregate assets of the Latvian monetary financial institutions stood at EUR 28.935 bln, down 4.9 % or EUR 1.499 bln from the end of August 2015 when their aggregate assets were worth EUR 30.434 bln.

The balance of loans issued to residents by the Latvian monetary financial institutions was EUR 12.683 bln in late August 2016, up 1.7 % year-on-year. This included EUR 12.237 bln in euro-denominated loans issued to residents, up 3.4 % year-on-year, and EUR 446.8 mln worth of loans in foreign currencies, down 29.4 %.

The balance of resident deposits totaled EUR 10.702 bln at the end of August this year, up 10.3 % from the same period last year, including EUR 9.35 bln in euro-denominated deposits, which was a 9.1 % growth from the end of August 2015, and EUR 1.352 bln in deposits in foreign currencies, up 19 % from the same period a year ago.

The capital and reserves of the Latvian monetary financial institutions totaled EUR 2.923 bln at the end of August this year, declining 8.5 % from a year ago.

The Latvian monetary financial institutions earned an aggregate profit of EUR 290.5 mln in the first eight months of 2015 and EUR 416.6 mln in the full 2015, up 33.2 % from a year before.

Monetary financial institutions are credit institutions and oher financial institutions accepting deposits from customers which are not monetary financial institutions, as well extending loans from own funds and investing in securities.