Banks, Financial Services, Latvia, Loan
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Latvian banks grant EUR 143.5 mln worth of new consumer loans in January-September
BC, Riga, 12.12.2016.Print version
Latvian banks granted EUR 143.5 mln worth of new consumer loans in the first three quarters of 2016, which is a 28% increase against the respective period last year, the data of the Association of Latvian Commercial Banks show.
The aggregate value of the Latvian banks’ consumer loan
portfolio reached EUR 522.4 mln at the end of September.
At the end of last year, the banks had granted EUR 487.7 mln
in consumer loans, as compared to EUR 479.7 mln in late 2014 and EUR 488.3 mln
in late 2013.
Since 2013, the value of the Latvian banks’ consumer loan
portfolio has been around half a mln euro with a stable tendency to grow. The
amount of new loans has been growing fast amid strong demand from consumers, a
more stable financial situation and more favorable offers from the banks, the
association said.
In 2015, the Latvian banks granted EUR 156.3 mln worth of
new consumer loans at a 38% rise against a year before when new consumer loans
totaled EUR 112 mln.