Banks, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 20:22
SEB Group reports EUR 27.2 mln in H1 profit in Latvia
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| SEB Banka |
The group's revenue in Latvia in the half quarter of 2018 was EUR 50 mln,
up 5% year-on-year, and costs increased 2% to EUR 23.8 mln. The group's profit
before provisions was EUR 26.2 mln, up 8% against the first half of 2017.
In the first six months of this year SEB group recovered EUR 919,000
worth of provisions in contrast to the EUR 385,000 lost in the first half of
2017.
As at June 30, 2018, SEB Banka
held EUR 2.43 bln in deposits, up 6% against the end of 2017. The bank’s loan
portfolio expanded 8% from the end of June 2017 to EUR 2.8 bln at the end of
June 2018.
The number of the bank’s active clients grew by 4,200 from the end of
June 2017 to 443,815 at the end of June 2018.
The bank’s capital and reserves stood at EUR 306.7 mln and its assets
were worth EUR 3.335 bln at the end of June 2018.
SEB Banka is the
third largest bank by assets.
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