Banks, Deposits, Financial Services, Latvia

Deposits have increased at just five banks, while deposits at 13 banks have decreased.

Reduction of deposits was mainly recorded in the corporate sector and is related with changes in banking business models.

At the end of March, the amount of deposits at Swedbank was EUR 4.58 billion, up 3.8 percent or EUR 167.948 million from late 2017, deposits at Luminor Bank stood at EUR 2.859 billion (2.9 percent or EUR 83.882 million down), deposits at SEB Banka amounted to EUR 2.44 billion (2.5 percent or EUR 59.187 million up), Citadele bank reported EUR 1.961 billion in deposits (8 percent or EUR 171.053 million down), and Rietumu Banka - EUR 1.494 billion (35.5 percent or EUR 823.553 million down).

Deposits have also increased 54.2 percent at the Latvian branch of OP Corporate Bank, at LPB Bank (7.3 percent), at the Latvian branch of BigBank (2.9 percent).

Deposits declined also by 3 percent at BlueOrange Bank, at Norvik Bank (19.2 percent), at Regionala Investiciju Banka (12.4 percent), at Meridian Trade Bank (6.3 percent), at Baltic International Bank (11.8 percent), at Rigensis Bank (17.9 percent), at PrivatBank (1.7 percent), at the Latvian branch of Danske Bank (28.6 percent), at Signet Bank (20.4 percent), at Expobank (24.9 percent).

According to the association's data, companies' deposits in Latvian banks totaled EUR 9.238 billion at the end of March, while deposits by private individuals - EUR 7.961 billion.