Lat­vian bank­ing sec­tor makes EUR 197.9 mil­lion profit in seven months

The Baltic Times - - LATVIAN COMMENTARY - LETA/TBT Staff

The Lat­vian bank­ing sec­tor closed the first seven months of 2017 with EUR 197.9 mil­lion in profit, ac­cord­ing to the in­for­ma­tion from the Lat­vian fi­nan­cial reg­u­la­tor, the Fi­nance and Capital Mar­ket Com­mis­sion.

Fif­teen Lat­vian banks and four branches of for­eign banks showed profit in the first seven months of this year. Their com­bined share in the Lat­vian bank­ing sec­tor's as­sets was 98.3 per cent.

Bank de­posits at the end of July had dropped by 1.6 per cent or EUR 334.8 mil­lion, including de­posits of res­i­dents by 0.6 per cent or EUR 76.2 mil­lion and de­posits of non­res­i­dents by 3.1 per cent or EUR 258.6 mil­lion. Ag­gre­gate de­posits at the end of July amounted to EUR 20 bil­lion.

The bank­ing sec­tor's ag­gre­gate loan port­fo­lio was worth EUR 15 bil­lion in late July this year, ris­ing by 0.1 per cent or EUR 18.5 mil­lion. Loans to res­i­dent house­holds de­creased by 0.1 per cent or EUR 5.2 mil­lion while loans to non-res­i­dents dropped 0.8 per cent or EUR 17.3 mil­lion.

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