Banks, Financial Services, Latvia
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Tuesday, 09.06.2026, 12:07
Latvian banks feeling stable on internal market; external risks raise concerns about future
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Bicevskis believes that Latvian banks have operated successfully this year, even though the current situation in Europe and the world makes one peer into the future and predict potential risks, writes LETA.
He reminds that the Latvian financial sector is safe, compared to the Southern European one and the sector's ties with Scandinavia's large banks only increase this safety. Scandinavian and Latvian banks have few or no deposits in problematic countries' promissory notes. Moreover, Nordic banks, alongside British and Swiss banks, are among the best capitalized banks in Europe.
According to Bicevskis, the banking sector's results in the first half of 2012 indicate that the sector has learned from the crisis and has made use of these lessons – the sector's credit policy has been reviewed, loan portfolio quality is much higher, financial resources are sufficient and the banks are ready to issue loans to quality business projects and household needs.
As reported, the banking sector's profit amounted to LVL 78.5 million in the first half-year, according to data from the Financial and Capital Market Commission.
14 Latvian banks and five foreign banks' branches in Latvia operated with profit in the first six months this year. Their total share of the banking sector's assets constituted 90.6%.
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