Banks, Deposits, Financial Services, Loan

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 09:56

Latvian monetary financial institutions earn EUR 218.4 mln profit in January-August

BC, Riga, 29.09.2017.Print version
The Latvian monetary financial institutions (mostly banks) earned EUR 218.4 million in aggregate profit in the first eight months of 2017, down 35.8% from the same period in 2016, the Bank of Latvia reported LETA.

In August 2017, the monetary financial institutions showed aggregate profit of EUR 21 million.

 

As of August 31, 2017, the aggregate assets of the Latvian monetary financial institutions stood at EUR 27.442 billion, down 5.2% or EUR 1.493 billion from the end of August 2016 when their aggregate assets were worth EUR 28.935 billion.

 

The balance of loans issued to residents by the Latvian monetary financial institutions was EUR 12.787 billion in late August 2017, up 0.8% year-on-year. This included EUR 12.422 billion in euro-denominated loans issued to residents, up 1.5% year-on-year, and EUR 364.6 million worth of loans in foreign currencies, down 18.4%.

 

The balance of resident deposits totaled EUR 10.992 billion at the end of August this year, up 2.7% from the same period last year, including EUR 9.653 billion in euro-denominated deposits, which was a 3.2% growth from the end of August 2016, and EUR 1.34 billion in deposits in foreign currencies, down 0.9% from the same period a year ago.

 

The capital and reserves of the Latvian monetary financial institutions totaled EUR 2.97 billion at the end of August this year, rising 1.6% over the year.

 

The Latvian monetary financial institutions earned an aggregate profit of EUR 340 million in the first eight 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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