Banks, Financial Services, Latvia, Loan, Markets and Companies

In the first quarter of 2016, Nordea beat SEB Banka to become the second largest lender in Latvia. Nordea was also the leading lender to corporate clients at the end of the three-month period.

The loan portfolio of Swedbank Latvia dropped 0.2% or EUR 5.818 million in the first quarter of 2016 to EUR 3.159 billion at the end of March. The loan portfolio of the Latvian branch of Nordea Bank Finland grew 9.6% or EUR 228.311 million to EUR 2.616 billion, and SEB Banka's loan portfolio shed 2.2% or EUR 54.146 million to EUR 2.405 billion.

Loan portfolios also decreased by 1.1% for DNB Bank, 2.7% for Rietumu Banka, 0.3% for the Latvian branch of Danske Bank, 1.1% for Norvik Bank, 21.5% for PrivatBank, 2.5% for Latvijas Pasta Banka, 9.9% for Expobank, 2.5% for the Latvian branch of Svenska Handelsbanken and 2.3% for the Latvian branch of Eesti Krediidipank.

Meanwhile, loan portfolios grew in 11 banks, including by 0.9% for Citadele Bank, 2.9% for ABLV Bank, 3.3 for Meridian Trade Bank, 3.3% for Regionala Investiciju Banka, 13.3% for Baltikums Bank, 2.8% for the Latvian branch of BigBank, 2.3% for Baltic International Bank, 15.5% for the Latvian branch of OP Corporate Bank (formerly the Latvian branch of Pohjola Bank), 9.4% for Rigensis Bank and 12.3% for Bank M2M Europe.

The Riga branch of Skandinaviska Enskilda Banken had issued no loans as at the end of March 2016.

During the first quarter of 2016, the aggregate loan portfolio of Latvian banks grew 0.03% or EUR 4.325 million to EUR 14.681 billion at the end of March.