Financial Services, Latvia, Loan
International Internet Magazine. Baltic States news & analytics
Saturday, 20.04.2024, 11:49
Aggregate profit of Latvian credit unions down to EUR 327,000 in January-September
Print version |
|---|
Most of the credit unions, or 20 out of 34, closed the accounting period in
the black, earning EUR 344,000 in total.
The credit unions' aggregate assets expanded by 3.3% or EUR 906,000 in the
third quarter of 2017 to EUR 28.7 million at the end of September.
The credit unions' capital adequacy ratio was 22.8% as compared to the 10%
minimum requirement.
The credit unions' aggregate loan portfolio expanded by EUR 766,000 or 3.6%
over the third quarter of the year to nearly EUR 22 million at the end of
September, largely thanks to consumer loans.
The loan portfolio's quality slightly deteriorated during the third quarter
of the year with standard loans making up 60.4%, loans under supervision 35.3%,
and substandard and non-performing loans making up 4.3% of the portfolio (60.9%,
35% and 4.1% respectively at the end of June).
As the portfolio's quality deteriorated, provisions for unsafe loans grew accordingly,
which had a negative effect on the credit unions' earnings.
Deposits made by the credit unions' members grew by EUR 553,000 or 2.8% in
the third quarter of 2017 to EUR 20.3 million, making up approximately 99% of
all deposits at the credit unions.
«The Baltic Course» Is Sold and Stays in Business!
