Banks, Financial Services, Latvia, Loan

International Internet Magazine. Baltic States news & analytics Monday, 21.01.2019, 22:52

Aggregate loan portfolio of Latvian banks shrinks 1.3% in Q1

BC, Riga, 08.06.2018.Print version
The aggregate loan portfolio of Latvian banks shrank 1.3% or EUR 184.826 million in the first quarter of 2018 to EUR 14.256 billion at the end of March, with six banks showing growth in lending while loan portfolios decreased for twelve banks, according to the information provided by the Latvian Association of Commercial Banks, cites LETA.

The Top 5 of largest banks in terms of loans remained unchanged in the first quarter of this year. Luminor Bank is still in the lead, followed by Swedbank, SEB Banka, Citadele Bank and Rietumu Bank.

However, Luminor Bank's loan portfolio decreased by 0.5% or EUR 16.467 million in the first quarter of 2018 to EUR 3.529 billion at the end of March.

Swedbank increased its loan portfolio 1.3% or EUR 41.577 to EUR 3.273 billion, SEB Banka's loans grew 0.7% or EUR 18.299 million to EUR 2.697 billion, while Citadele Bank's loan portfolio contracted 1.6% or EUR 19321 million to EUR 1.184 billion, and Rietumu Banka saw its loan portfolio decline 12.6% or EUR 130.434 million to EUR 901.457 million.

In addition to the above-mentioned Swedbank and SEB Banka, loan portfolios were expanded also by the Latvian branch of Danske Bank (8.8%), the Latvian branch of OP Corporate Bank (2.8%), the Latvian branch of BigBank (1.3%) and Baltic International Bank (5%).

Meanwhile, loan portfolios contracted for the above-mentioned Luminor Bank, Citadel Bank and Rietumu banka, as well as for Norivk Banka (3.2%), BlueOrange Bank (1.3%), Regionala Investiciju Banka (5.8%), Meridian Trade Bank (1.1%), PrivatBank (2.6%), LPB Bank (2.2%), Signet Bank (3.9%), Rigensis Bank (24%) and Expobank (3.9%).

Corporate bank loans totaled EUR 8.682 billion at the end of March this year, with the largest amounts issued by Luminor Bank - EUR 1.773 billion, SEB Banka - EUR 1.734 billion, Swedbank - EUR 1.545 billion and Rietumu Banka - EUR 774.281 million.

Personal loans issued by Latvian banks totalled EUR 5.509 billion. Luminor Bank led also by personal loans with EUR 1.748 billion, followed by Swedbank with EUR 1.693 billion, SEB Banka with EUR 941.724 million and Citadele Bank with EUR 444.556 million.

Search site