Banks, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 05:41
Five Latvian banks report asset growth in H1
The list of Latvia's five largest banks by assets changed in the second
quarter of 2017, as Nordea Bank
replaced Rietumu Banka as the fourth
largest bank by assets.
Swedbank remained the
largest bank in Latvia with EUR 5.153 billion in assets at the end of June
2017, down 3.1% from the end of 2016.
The second largest bank in Latvia by assets was ABLV Bank which held EUR 3.748 billion in assets at the end of
June, down 3.3% from the end of 2016. SEB Banka had EUR 3.575 billion worth of
assets, up 0.03% from the end of last year.
The Latvian branch of Nordea Bank saw its assets expand by 10.8% in the first half of this year to EUR 3.567 billion, whereas Rietumu Banka's assets contracted 6.8% to EUR 3.351 billion.
The five banks raising their assets in the first half of 2017 included SEB Banka, the Latvian branch of Nordea Bank, the Latvian branch of Danske Bank (55.8%), Latvijas Pasta Banka (0.3%), and the
Latvian branch of BigBank (9.5%).
Meanwhile, 15 banks saw their assets drop in the first half of 2017. Assets
decreased by 2.9% for Swedbank, ABLV
Bank, Rietumu Banka and Citadele Bank,
by 3.6% for DNB Bank, by 1.1% for Norvik
Banka, by 4.5% for BlueOrange Bank,
by 19.6% for Regionalal Investiciju Banka,
by 8.9% for Meridian Trade Bank, by
12.7% for Baltic International Bank,
by 12.8% for PrivatBank, by 24.6 for Rigensis Bank, by 16.8% for Expobank, by 30.3% for the Latvian
branch of OP Corporate Bank and by
4.3% for Bank M2M Europe.