Direct Speech

International Internet Magazine. Baltic States news & analytics Saturday, 25.01.2020, 05:27

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Estonia: The net profit of the banks fell last year

Estonia: The net profit of the banks fell last year

24.01.2020

The banking sector in Estonia earned net profit of 285 mln euros in 2019, which was one fifth less than in the previous year. The main reason for this was structural changes in the banking market. The net interest income and net service fee income of the banks fell a little as a ratio to total assets, but the ratio of administration costs remained the same as a year earlier. Changes in loan write-downs also affected profits. The net profit of the banking sector was 1% of total assets.

Keyword tags: Analytics, Banks, Direct Speech, Estonia, Financial Services



Bank of Lithuania: The halfway point towards European prosperity surpassed, yet many challenges still await

Bank of Lithuania: The halfway point towards European prosperity surpassed, yet many challenges still await

24.01.2020

Over the last two decades, the gap between the standard of living in Lithuania and the EU average has more than halved, placing Lithuania in the leading position among the rest of the new EU Member States. However, an analysis carried out by the Bank of Lithuania has shown that to reach the average EU prosperity level, the country will have to address complex challenges that may come on its way. t

Estonia: Companies are borrowing from other sources alongside banks

Estonia: Companies are borrowing from other sources alongside banks

16.01.2020

Corporate debt grew faster last year, at a rate that reached around 6% at the end of the third quarter. Estonian companies again borrowed mostly from banks operating in Estonia, but they also used other sources of loans more than they did last year. Household debt grew fast because the labour market remained favourable and supported strong demand for loans.


2019 on Baltic Stock Market – the Good, the Bad or the Ugly?

2019 on Baltic Stock Market – the Good, the Bad or the Ugly?

10.01.2020

Baltic stock returns. 2019 appeared to be quite a solid year for Baltic stock market, if one looks at it in isolation: OMX Baltic Benchmark price index has returned 6.73%, while its Total Return index yielded 13.62%, implying that almost half of its performance was generated by returning cash to the investors via dividends and share capital reduction.

Latvia: A surge reported for foreign direct investment in the third quarter

Latvia: A surge reported for foreign direct investment in the third quarter

06.01.2020

The current account of Latvia's balance of payments ran a 296 mln euro deficit amounting to 3.7% of gross domestic product (GDP) in the third quarter of 2019.


03.01.2020

Latvia: Lending continues on a downward trend in November

On the back of persistently weak external demand and increasing caution of banks and businesses, overall lending indicators as well as those of corporate loans declined in November, with the housing loan portfolio being the only one posting the usual minor growth. Hence, the annual growth rate of domestic lending dropped to 0.8%, a low since 2017.

02.01.2020

Eesti Pank forecasts that the economy will start to lose momentum after running at full power

The Estonian economy will grow by 3.4% this year and 2.3% in 2020. Growth in the economy will slow in the next three years as the outlook for foreign markets is poor and the previously strong growth in employment will start to fade. Unemployment will rise in the coming years as the economy will start to cool, while more people than before will enter the labour market. Demand for additional labour will decline, but wage pressures will remain.

02.01.2020

What's in store for Latvia's economy in 2020?

"Summer is over", "Lukewarm economic growth", "External environment remains overcast": these were the phrases recently used by Latvijas Banka economists to cautiously mark a downward shift in Latvia's economic development trajectory.

12.12.2019

People will continue to use paper invoices for at least another ten years - Fitek

People in Latvia will continue to use paper invoices for at least another ten years, financial automation processes company Fitek head in Latvia Edgars Strazds said in an interview with LETA.

11.12.2019

Bank of Latvia: A surge reported for FDI in the 3Q

The current account of Latvia's balance of payments ran a 296 million euro deficit amounting to 3.7% of gross domestic product (GDP) in the third quarter of 2019.

09.12.2019

Turkey: Distant and Close

On December 4, a public organisation the Baltic Center presented a concept of a new Turkish project “TURKEY: DISTANT AND CLOSE” at the RISEBA premises - H2O6 Center for Architecture and Media.

06.12.2019

A Representative of Rietumu Bank – about trends in the Latvian art market

The Artterritory.com portal specialising in cultural topics has published an article on trends in the Latvian art market, in which owners of leading galleries, auction houses, art historians, and owners of art collections comment on the situation.

04.12.2019

Growth rate of wages reminds us that days of cheap labour are over

In the third quarter of 2019, the average monthly gross wage of employees in Latvia increased by 8.3% year-on-year. The pace of remuneration growth remains high and, in the long run, could affect the competitiveness of Latvia's goods and services.

29.11.2019

Local capital banks are ready to invest EUR 220 million in the Latvian economy

Changes in the Latvian banking industry, the increased attention to it from international organisations, and the challenges of the time required Latvian banks to seriously restructure development models and search for the new ones. In a short time, these tasks were successfully completed by the small mobile banks with local capital that managed to find their niche in the financial market and prove to be necessary for the Latvian economy.

12.11.2019

Latvia: Despite risks, economic growth continues

The flash estimate for Latvia's economic growth in the third quarter shows that after the unfavourable developments at the beginning of the year growth has recovered and stabilised; however, it was primarily driven by short-term factors such as a renewed rise in energy production from a low level and a good grain harvest.

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