Banks, Financial Services, Good for Business, Latvia

Rietumu Banka’s profit in the first nine months of this year amounted to EUR 78.89 mln, which is 40% more than a year ago. 

Swedbank posted EUR 69.81 mln in profit – 12.7% down from the first three quarters of 2015, while ABLV Banka’s profit totaled EUR 61.36 mln – 1.7% increase.

SEB Banka's profit amounted to EUR 44.9 mln, DNB Banka - EUR 29.58 mln, Citadele - EUR 28.79 mln, and Norvik Banka - EUR 9.81 mln. Latvijas Pasta Banka's profit was EUR 9.68 mln, PrivatBank - EUR 7.91 mln, Expobank - EUR 4.59 mln, Rigensis Bank – EUR 4.27 mln, the Latvian branch of Bigbank – EUR 3.92 mln, Baltic International Bank - EUR 3.63 mln, Baltikums Bank – EUR 3.61 mln, Regionala Investiciju Banka - EUR 2.04 mln, Bank M2M Europe – EUR 1.16 mln, Meridian Trade Bank- EUR 458,700

Only the Latvian branch of Eesti Krediidipank posted reported a loss of EUR 573,000 for January-September.

Latvian banking sector posted EUR 373.972 mln in total profit for the first three quarters of 2016 which is 18.9% more than in the respective period in 2015.