Baltic States – CIS, Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 16:48

Latvia's Expobank posts EUR 675,000 loss for H1

BC, Riga, 12.08.2020.Print version
Latvia's Expobank closed the first half of this year with a loss of EUR 675,000, which increased by 22.3 percent against the same period last year, writes LETA, according to information released by the bank.

The bank's assets stood at EUR 63.986 million at the end of June 2020, dropping 8.2 percent or EUR 5.702 million from the end of 2019 when the bank's assets were worth EUR 69.688.

At the end of June this year, Expobank held EUR 27.124 million in deposits, which reduced 15.7 percent from the end of 2019. Expobank's loan portfolio grew 50.8 percent from the end of last year to EUR 15.516 million at the end of June 2020.

The bank's capital and reserves dropped 1.9 percent from the end of 2019 to EUR 36.008 million in late June 2020.

In the first six months of 2019, Expobank sustained a loss of EUR 552,000, while its audited loss in the full 2019 was EUR 757,000 in contrast to a profit made a year before.

Expobank belongs to Russian businessman Igor Kim, who became the bank's sole owner in February 2012.

Expobank is the smallest bank in Latvia by assets.

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