Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Monday, 26.10.2020, 11:56

FKTK: Steeper development desirable in small bank segment

BC, Riga , 15.10.2020.Print version
Development needed in the segment of small banks as at present development of the banking sector is set by four largest banks, said Finance and Capital Market Commission (FKTK) chairwoman Santa Purgaile in an interview with LETA.

"Of course, we can say that we have many banks. At the same time, the majority of them is comparatively small banks. Growth of the market completely depends on these four largest banks," she said.

Purgaile said that FKTK would like development of the small bank segment to be steeper. There should be consolidation, a larger shareholder with ambitions should enter the market as it would create bigger competition for the four large banks.

She said that it is not so that investors are not interested in the small banks. "It is not so that they are not interested. The banks, however, have gone through rebirth, but the question is whether they have taken their wings. It is important to demonstrate this ability," she said.

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