Latvian banking sector makes EUR 197.9 million profit in seven months
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.