Banks, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 09:19
Banks more often have started to offer leasing services instead of loans - Kazaks
BC, Riga, 29.01.2020.Print version
Banks more often have started to offer leasing services instead of loans, said Bank of Latvia president Martins Kazaks at the Saeima budget and financial (taxation) committee meeting today, citing LETA.
Foto Ieva Abele |
The Bank of Latvia monetary policy department head Uldis Rutkaste, commenting on the 2020 economic trends in Europe and Latvia, said that corporate lending in the banking sector remains weak, and lending speed has dropped.
He explained that lending terms have tightened in relation to the uncertainty in the financial sector and banks have become more cautious.
Kazaks underscored that it is important for Latvia's economy to diversify financial structure in a long term. He noted that financial structure in Latvia is changing and banks more often have started to offer leasing services instead of loans.
"Leasing has risen significantly in the past years, financial structure might have rotated from lending to leasing," said Kazaks, adding that the largest leasing services providers are subsidiaries of banks. Still, if, for example, leasing increased by 10% in 2018, then in 2019 it has slowed down to 1.4% in September 2019.
In his words, even though monetary policy in Europe is supporting, its positive impact in Latvia has somewhat been reduced by slower lending and higher interest rates.
Other articles:
- 28.01.2022 BONO aims at a billion!
- 25.01.2021 Как банкиры 90-х делили «золотую милю» в Юрмале
- 30.12.2020 Накануне 25-летия Балтийский курс/The Baltic Course уходит с рынка деловых СМИ
- 30.12.2020 On the verge of its 25th anniversary, The Baltic Course leaves business media market
- 30.12.2020 Business Education Plus предлагает анонсы бизнес-обучений в январе-феврале 2021 года
- 30.12.2020 Hotels showing strong interest in providing self-isolation service
- 29.12.2020 В Латвии вводят комендантский час, ЧС продлена до 7 февраля
- 29.12.2020 В Rietumu и в этот раз создали особые праздничные открытки и календари 2021
- 29.12.2020 Latvia to impose curfew, state of emergency to be extended until February 7
- 29.12.2020 18-19 января Наталия Сафонова проводит семинар "Управленческий учет во власти собственника"