Banks, Deposits, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Saturday, 12.10.2024, 04:38
Latvian banks operated with EUR 17.4 mln in profit in Q1
The banks' aggregate assets contracted by 3.5% from the end of 2019 to EUR 21.724 billion at the end of the first quarter of 2020.
Deposits at the Latvian banks dropped 3.6% to EUR 17.996 billion.
The banking sector's aggregate loan portfolio was worth EUR 19.02 billion in late March, down 1.8% from the end 2019.
The banks' own capital rose 2.9% from the end of 2019 to EUR 2.246 billion at the end of 2019.
According to FCMC data, concentration in the banking sector increased this year, with the five largest banks accounting for 87.9% of total banking assets in late March (85.7% at the end of 2019). They also accounted for 90.5% of total bank loans (89.1%), and 90.1% (88.1%) of total bank deposits.
The Latvian banking sector's profit in the first quarter of 2019 was EUR 73.272 million.
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