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Latvian financial institutions earn EUR 132.1 mln in H1

BC, Riga, 27.07.2018.Print version
Latvian monetary financial institutions, mostly banks, earned EUR 132.1 mln in aggregate profit in January-June 2018, a 19.8% decrease on the first half of 2017, informs LETA.

According to the Bank of Latvia's data, this past June, the monetary financial institutions earned EUR 0.9 mln in aggregate profit.

The total value of monetary financial institutions' assets was EUR 23.256 bln as of June 31 - 16% or EUR 4.433 bln decrease from June 2017, when monetary financial institutions' total assets stood at EUR 27.689 bln.

At the end of June, the balance of loans issued by the Latvian monetary financial institutions was EUR 12.372 bln, down 2.9% year-on-year. This included EUR 12.138 bln in euro-denominated loans issued to residents, down 1.9% year-on-year, and EUR 234.1 mln worth of loans in foreign currencies, down 36.7%.

The balance of resident deposits totaled EUR 11.363 bln at the end of June this year, up 3.8% from the same period last year, including EUR 10.22 bln in euro-denominated deposits, which was a 6.5% growth from the end of June 2017, and EUR 1.142 bln in deposits in foreign currencies, down 15.3% from a year ago.

The capital and reserves of the Latvian monetary financial institutions totaled EUR 3.092 bln at the end of June 2018, growing 6.2% over the past year.

The Latvian monetary financial institutions closed the first six months of 2017 with EUR 164.7 mln in aggregate profit.

Monetary financial institutions are credit institutions and other financial institutions accepting deposits from customers which are not monetary financial institutions, as well extending loans from own funds and investing in securities.


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