Financial Services, Latvia, Loan, Statistics

At the end of September 2016, the Latvian Credit Register contained data on 715,500 persons with outstanding liabilities, including 673,500 resident individuals, 32,200 resident corporate entities, 6,000 non-resident individuals and 3,800 thousand non-resident corporate entities.

Information about persons with overdue liabilities is entered in the Credit Register, if the payment is higher than EUR 150 and has been overdue for more than 60 calendar days.

Out of the total of 715,500 persons with outstanding liabilities included in the Credit Register, 20.2% or 144,200 persons had overdue liabilities as described above, including 135,200 resident individual, 1,000 non-resident individuals, 7,500 resident corporate entities and 500 non-resident corporate entities.

From the establishment of the Credit Register in early 2008 until September 30, 2016, altogether 4.13 mln liabilities had been entered in the register, of which 1.15 mln or 27.8 % are currently outstanding.

The total balance of outstanding liabilities at the end of September this year was EUR 20.497 bln, including EUR 10.1 billion or 49.3% of liabilities by resident corporate entities, EUR 6.9 bln or 33.4% of liabilities by resident individuals, EUR 3 bln or 14.7% of liabilities of no-resident corporate entities and EUR 0.5 bln or 2.6 % of liabilities of non-resident individuals. Compared to the end of June 2016, the total balance of outstanding liabilities has increased by EUR 34.9 mln or 0.2%.

Consumer loans accounted for most of 41.2% of outstanding liabilities at the end of September this year, credit card loans made up 29.7%, housing loans 12.6% and finance leases 6.5%.

At the end of September 2016, the Latvian Credit Register had 105 participants, including 19 credit institutions, seven branches of foreign credit institutions, Latvian development finance institution Altum, 36 subsidiaries of banks (leasing and factoring companies), seven insurers and 35 credit unions. The Credit Register also has eight participants with limited status, mostly banks and other financial institutions in the process of liquidation.