Analytics, Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Monday, 10.12.2018, 15:26

Latvian monetary financial institutions earn EUR 251.7 mln profit in ten months

BC, Riga, 30.11.2018.Print version
Latvian monetary financial institutions (mostly banks) earned EUR 251.7 mln in aggregate profit in the first ten months of 2018, up 9.2% against the same period in 2017, the Bank of Latvia reported.

In October 2018, the monetary financial institutions made EUR 21.8 mln in aggregate profit.

As at October 31, 2018, the aggregate assets of the Latvian monetary financial institutions stood at EUR 21.065 bn, down 22.7% or EUR 6.167 bn from the end of October 2017 when their aggregate assets were worth EUR 27.233 bn.


The balance of loans issued to residents by the Latvian monetary financial institutions was EUR 11.835 bn in late October 2018, down 4.6% y-o-y. This included EUR 11.616 bn in euro-denominated loans issued to residents, down 3.9% y-o-y, and EUR 220.3 mln worth of loans in foreign currencies, down 30.6%.


The balance of resident deposits totaled EUR 11.394 bn at the end of October this year, up 3.5% from the same period last year, including EUR 10.358 bn in euro-denominated deposits, which grew 7% from the end of October 2017, and EUR 1.036 bn in deposits in foreign currencies, down 22.2% from the same period a year ago.


The capital and reserves of the Latvian monetary financial institutions totaled EUR 2.826 bn at the end of October this year, declining 11.8% from the same period a year ago.


In the first ten months of 2017, the Latvian monetary financial institutions earned an aggregate profit of EUR 230.6 mln. Their aggregate profit in the full 2017 was EUR 235.8 mln.


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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