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Wednesday 28.09.2016 | Name days: Sergejs, Svetlana, Lana
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Gradual growth of banking sector’s loan portfolio continues in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe total loan portfolio of Latvia’s banks has grown by 1.2% or EUR 172 million in May. This means that gradual growth of the total loan portfolio continues for the fourth consecutive month – loan portfolio had increased by 0.6% in April, 0.4% in March and 0.1% in February.

The total volume of deposits of Latvia’s banking sector had increased by 0.6% or EUR 132 million in May. This includes 4% increase of resident deposits (EUR 442 million). Surplus of non-resident deposits, on the other hand, has declined by 2.8% of EUR 310 million, according to information from the Finance and Capital Market Commission.

The banking sector was working with profits worth EUR 173.7 million in the first five months of 2016. All 16 Latvian banks and five out of eight foreign banks in the country were working with profit in this period (their total market share in banking assets is 99.6%).

The banking sector’s portfolio grew 1.2% or EUR 172 million in May. This includes resident corporate portfolio growth of 2.1% or EUR 149 million (mainly in real estate, finance and insurance sectors). The resident household loan portfolio remained on the level of the previous year. Surplus of loans issued to non-residents had increased 1.1% in May.

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