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Swedbank, ABLV Bank and Rietumu Banka unchangingly top list of Latvia's biggest banks

BC, Riga, 16.03.2017.Print version
Although the assets of Latvia’s banks servicing foreign clients decreased last year, the Top-three of Latvia’s largest banks by assets remained unchanged and included Swedban, ABLV Bank and Rietumu Banka, according to information provided by the Association of Latvian Commercial Banks writes LETA.

Swedbank’s assets contracted 3.3% from the end of 2015 to EUR 5.315 bln at the end of last year.

The assets of ABLV Bank were down 21.7% y-o-y to EUR 3.877 bln.

The assets of Rietumu Banka dropped 7.2% from the end of 2015 to EUR 3.594 bln in late 2016.

SEB Banka remained the fourth largest bank with its assets declining 0.5% to EUR 3.574 bln.

Nordea was fifth with assets worth EUR 3.22 bln at the end of 2016, up 19.4% against the end of 2015.

Citadele was sixth with EUR 2.76 bln worth of assets, up 8.9%

DNB Banka came seventh with its assets shedding 5.8% to EUR 2.202 bln.

The assets of other banks did not reach the value of EUR 1 bln.

Norvik Banka was the eighth largest bank with assets worth EUR 926.135 mln, down 16.3% from the end of 2015.

Blue Orange was ninth with EUR 671.569 mln, down 12.3%, and Regionala Investiciju Banka rounded out the top ten of Latvia’s largest banks with EUR 671.569 mln in assets, down 12.3% from the end of 2015.

Rigensis Bank, which ranked 11th, saw its assets expand by 11.4% over the year to EUR 339.691 mln, and Danske Bank was 12th with EUR 330.79 mln, down 18%.

Baltic International Bank ranked 13th with EUR 326.563 mln in assets, down 41.9% y-o-y.

PrivatBank, whose assets shrank 50.7% to EUR 323.415 mln, slipped to 14th place.

Further down the list came Meridian Trade Bank with EUR 320.696 mln worth of assets at the end of 2016, Expobank with EUR 300.9 mln, the Latvian branch of OP Corporate Bank with 299.322 mln, Latvijas Pasta Banka with EUR 205.96 mln, Bank M2M Europe with EUR 180.239 mln, and the Latvian branch of Bigbank with EUR 99.639 mln.

The Latvian branch of Svenska Handelsbanken had EUR 31.661 mln worth of assets at the end of 2016 and the Latvian branch of Eesti Krediidipank EUR 11.378 mln.

At the end of 2016, the Latvian banking sector’s aggregate assets stood at EUR 29.496 billion, which was a 7.6% reduction from the end of 2015. Last year, assets decreased for 17 banks and grew for five banks.

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