Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 10:24

Latvian monetary financial institutions earn EUR 197.4 mln profit in 7 months

BC, Riga, 29.08.2017.Print version
The Latvian monetary financial institutions (mostly banks) earned EUR 197.4 million in aggregate profit in the first seven months of 2017, down 34.2% from the same period in 2016, the Bank of Latvia reported LETA.

In July 2017, the monetary financial institutions showed aggregate profit of EUR 32.7 million.

 

As at July 31, 2017, the aggregate assets of the Latvian monetary financial institutions stood at EUR 27.306 billion, down 6.7% or EUR 1.972 billion from the end of July 2016 when their aggregate assets were worth EUR 29.178 billion.

 

The balance of loans issued to residents by the Latvian monetary financial institutions was EUR 12.785 billion in late July 2017, up 1% year-on-year. This included EUR 12.411 billion in euro-denominated loans issued to residents, up 1.5% year-on-year, and EUR 374.4 million worth of loans in foreign currencies, down 11.6%.

 

The balance of resident deposits totaled EUR 10.873 billion at the end of July this year, up 2.5% from the same period last year, including EUR 9.56 billion in euro-denominated deposits, which was a 3.3% growth from the end of July 2016, and EUR 1.313 billion in deposits in foreign currencies, down 2.7% from the same period a year ago.

 

The capital and reserves of the Latvian monetary financial institutions totaled EUR 2.943 billion at the end of July this year, rising 2.1% over the year.

 

The Latvian monetary financial institutions earned an aggregate profit of EUR 299.8 million in the first seven months of 2016.


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






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