Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 04.04.2026, 01:57

PrivatBank posts EUR 2.8 mln in losses in H1

BC, Riga, 01.09.2020.Print version
PrivatBank posted EUR 2.8 mln in losses in the first half of the year, which is four times more than in the same period of 2019, according to the bank's latest financial report writes LETA.

Even though PrivatBank in the second quarter of this year implemented cautious lending policy due to Covid-19 outbreak, the bank was able to keep a loan portfolio at EUR 55.5 mln. 86% of the bank's portfolio is formed by loans issued to Latvian residents, including 47% corporate loans and 53 % individual loans.


The bank's assets stood at EUR 176.2 mln as of June 30, 2020. Revenue from interest increase by 16% to EUR 2.37 mln.


Despite the EUR 2.8 mln loss, PrivatBank still retained high liquidity and capital adequacy indicators. The bank's liquidity indicator reached 1187.98%, which is considerably higher than the required 100%. The bank's capital adequacy indicator reached 18.61%.


In the first six months of 2019, PrivatBank operated with losses of EUR 706,000

At the end of 2019, PrivatBank was the 11th largest bank in Latvia in terms of assets. The bank's largest shareholder is Ukraine's PrivatBank, which was nationalized by the Ukrainian government in December 2016.




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