Banks, Financial Services, Latvia, Loan
International Internet Magazine. Baltic States news & analytics
Wednesday, 24.04.2024, 09:47
Latvian banks see revenue from loans drop 2.4% in 9 months
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.