Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Tuesday, 21.11.2017, 06:16

DNB Banka’s group posts EUR 12.2 mln in H1 profit

BC, Riga, 13.07.2017.Print version
DNB Banka’s group closed the first half of this year with a EUR 12.2 million profit, down 46.4% from the same period in 2016, according to information released by the bank, cites LETA.

The bank’s board chairman Janis Teteris told LETA that the group’s net profit in the first six months of last year reached 22.8 million, but the profit was significantly – by EUR 11.8 million - affected by one transaction, as the bank’s shares in Visa Europe Limited were sold. That transaction excluded, the group’s net profit was EUR 11.1 million, and compared to that, the profit of the first six months of this year has risen by 9%.

 

The bank’s net interest income reached EUR 19.5 million, which is about the same as in the respective period last year. Expenditure amounted to EUR 18.4 million, down 6% year-on-year.

 

The bank had attracted EUR 1.2 billion in deposits, and net loan portfolio reached EUR 1.5 billion. New loans issued by the bank reached EUR 149 million in the second quarter of this year.

 

In the first half of 2016, DNB Banka’s group generated EUR 22.782 million in profit.

 

At the end of March 2017, DNB Banka was the seventh largest bank in Latvia by assets, according to the data of the Association of Latvian Commercial Banks.






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