Banks, Financial Services, Latvia, Loan

International Internet Magazine. Baltic States news & analytics Tuesday, 21.11.2017, 13:52

Latvian banks see revenue from loans drop 2.4% in 9 months

BC, Riga, 10.11.2017.Print version
During the first nine months of 2017, Latvian banks received EUR 361.491 million in revenue from loans, which is 2.4% or EUR 9.026 million less than in the same period last year, writes LETA, according to the information from the financial watchdog, the Finance and Capital Market Commission (FKTK).

Revenue from bank loans issued to non-monetary financial institutions (non-banks) during the first nine months of this year made up 34.4% of all revenue, up 3.9%age points from 30.5% in the first nine months of 2016.

 

The banks’ revenue from commissions and similar charges also declined in the first nine months of this year, as commission and similar charges brought in EUR 318.131 million in total, down 3.6% or EUR 11.724 million from the first nine months of last year. The share of commissions and similar charges in the bank’s total revenue expanded to 30.2% from 27.1% a year ago.

 

Trade in financial instruments generated EUR 66.987 million in the first nine months of 2017, which was 3.2 times or EUR 150.756 million less than a year ago and accounted for 6.4% of the banks’ total revenue (down from 17.7% a year ago).

 

Cutting provisions provided EUR 95.854 million in bank revenue in January-September 2017, down 33.4% or EUR 48.082 million from the first nine months of 2016. The share of this revenue contracted to 9.1% from 11.97% over the year.

 

The Latvian banks’ aggregate revenue came to EUR 1.052 billion in the first nine months of this year, falling 14.6% or EUR 179.521 million from the same period last year when their aggregate revenue totaled EUR 1.231 billion.

 

At the end of September there were 22 banks in Latvia, including six branches of foreign banks.






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