Banks, Financial Services, Latvia, Loan

The total amount of income in the first six months of 2014, was EUR 26.5 million, which is 15% less than in the respective period of 2013. The total amount of expenses in the first six months of 2014, was EUR 14.1 million, while in 2013, the figure was EUR 15.9 million.

Profit before revenue and unsecured credits was EUR 12.4 million.

Director of Nordea bank in Latvia, Janis Buks estimates that the first six months of 2014 have brought stable business results for the bank thanks to systematic work on strengthening of a successful and mutually beneficial cooperation model with the clients. For example, the amount of interest income has grown by 19%, the amount of deposits – by 23%, the number of clients – by 3%, but the total amount of expenses have reduced by 11%.

In order to make sure that real estate projects funded by Nordea subsidiary in Latvia comply with Nordea group policy, Nordea bank continued to re-evaluate its credit portfolio, thus, accumulating savings in the amount of EUR 12.3 million.

At the end of the second quarter of 2014, the amount of deposits at Nordea bank reached EUR 1.53 billion, while the amount of credit portfolio for Nordea and Nordea Finance, reached EUR 2.78 billion.