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Last year, the profit of the banking sector in Latvia increased by 22% / article / Eng.lsm.lv

Last year, the profit of the banking sector in Latvia increased by 22% / article / Eng.lsm.lv

Five banks were operating with last year’s losses and Seven with benefit, Including Sweden’s largest bank and SEB bank, as well as BlueOrange Bank, LPB Bank and Rigensis Bank. No data is available for the Latvian branch of Luminor Bank.

Deposits with Latvian banks increased by 5% or 0.92 billion euros in the fourth quarter of this year and reached 18.66 billion euros, which is the highest amount of deposits since 2017, according to the Latvian Financial Association. In the last twelve months, deposits have increased by 8% or 1.45 billion euros.

At the end of the fourth quarter of 2020, the largest deposits were in Swedenbank (€ 5,850 million), SEB banka (€ 3,510 million), Citadel (€ 3,450 million), Luminor banka branch (€ 2,890 million) and Blue Orange (0.54 million euros). billion). Thousands million euros).

The largest increase was observed in corporate deposits. Last year, it increased by 0.980 million euros and reached 42% of all bank deposits in Latvia.

The total capital of the banking sector reached 2,930 million euros at the end of the fourth quarter and has increased 10% or 0.260 million euros in the last twelve months. In the fourth quarter of 2020, the bank’s capital increased by 2% or 0.05 billion euros.

The association’s data also shows that loans granted by the banking sector last year amounted to 12.95 billion euros. In the fourth quarter of 2020, the loan portfolio decreased by 3% or € 0.34 billion. In the last twelve months, the loan portfolio has been reduced by 4% or 0.520 million euros.

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