Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Thursday, 18.10.2018, 02:02

Latvian monetary financial institutions earn EUR 127.4 mln profit in January-April

BC, Riga, 31.05.2018.Print version
Latvian monetary financial institutions (mostly banks) earned EUR 127.4 million in aggregate profit in January-April 2018, down 6.1% against the same period last year, the Bank of Latvia reported LETA.

In April 2018, the monetary financial institutions generated EUR 37.3 million in aggregate profit.


The total value of the monetary financial institutions’ assets contracted 13.8% from the end of April 2017, when their aggregate assets stood at EUR 28.053 billion, to EUR 24.186 billion at the end of April 2018.


At the end of April 2018, the balance of loans issued by the Latvian monetary financial institutions was EUR 12.307 billion, down 3.6% year-on-year. This included EUR 12.039 billion in euro-denominated loans issued to residents, down 2.7% year-on-year, and EUR 268 million worth of loans in foreign currencies, down 33.1%.


The balance of resident deposits totaled EUR 11.562 billion at the end of April this year, up 4.9% from the same period last year, including EUR 10.423 billion in euro-denominated deposits, which was a 7.7% growth from the end of April 2017, and EUR 1.138 billion in deposits in foreign currencies, down 15.4% from a year ago.


The capital and reserves of the Latvian monetary financial institutions totaled EUR 3.106 billion at the end of April 2018, growing 9.5% over the past year.


The Latvian monetary financial institutions closed the first four months of 2017 with EUR 135.7 million in aggregate profit.


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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