Banks, Deposits, Financial Services, Latvia

In December 2017, the monetary financial institutions sustained EUR 0.4 million in aggregate loss.

The total value of the monetary financial institutions’ assets contracted 3% from the end of 2016, when their aggregate assets stood at EUR 28.328 billion, to EUR 27.48 billion at the end of December 2017.

At the end of December 2017, the balance of loans issued by the Latvian monetary financial institutions was EUR 12.393 billion, down 2.5% year-on-year. This included EUR 12.111 billion in euro-denominated loans issued to residents, down 1.3% year-on-year, and EUR 282 million worth of loans in foreign currencies, down 36.5%.

The balance of resident deposits totaled EUR 11.402 billion at the end of last year, up 2.5% from the same period last year, including EUR 10.135 billion in euro-denominated deposits, which was a 3.8% growth from the end of 2016, and EUR 1.267 billion in deposits in foreign currencies, down 6.9% from a year ago.

The capital and reserves of the Latvian monetary financial institutions totaled EUR 3.176 billion at the end of December last year, growing 5.7% over the past year.

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.