bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 17.10.2017 | Name days: Karīna, Gaits
LatviaLatvia

Nearly one-third of fast loans are extended three or more times

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULast year, a trend was noted in Latvia’s non-bank crediting market for new loans to decline in number. There was also an increase in the number of loans with payment delays of up to 90 days. This means more active loan service provision in the second half-year of 2014 served to worsen the repayment quality of newly issued loans.

48.1% of current loan contracts were extended in 2014. 29.7% of them were extended three or more times, according to the latest report on non-bank loan sector’s activity in 2014.

In December 2014, there were 56 licensed non-bank consumer loan providers in Latvia. Loan services over long distances were provided by 18 associations, consumer credits were provided by 17 associations, loans in exchange for pledges were provided by 20 associations, mortgage loans were provided by 12 associations and 13 customer loan service providers offered leasing and other transport-related loans, according to information form Consumer Rights Protection Centre.

The loan portfolio of non-bank loan service providers had increased by 16.09% in comparison with 2013. In comparison with 2013, the loan portfolio of consumer loans continued to rise (by 29.21% or EUR 16.87 million), reaching EUR 74.62 million in 2014. The quality of loans in the non-bank loan service providers’ portfolio continued to improve, with the total volume of delayed payments declining down to 17.86% at the end of December 2014. The proportion of delayed loan payments has declined in all consumer groups. For example, the proportion of loan payments delayed by more than 90 days has decreased from 9.45% in December 2013 to 9.39% in December 2014, which can be explained with both stricter requirements for the evaluation of potential clients and loan service providers’ actions in regard to the write-off of delayed loan contracts.

Ref: 102.109.109.6788


Leave a reply

Estonian ministry to collect 270 000 euros from IT company over failure to build information system

Tieto Estonia, the Estonian branch of Finnish IT firm group Tieto will compensate the Estonian Ministry of Social Affairs 270,000 euros for the failure of the SKAIS2 project, the aim of which was the development of a new information system for the Estonian social insurance authority, but was deemed a failure in August.

Latvia invites Iran to act constructively to ensure security

Latvian Foreign Affairs Minister Edgars Rinkēvičs participated in a meeting of the EU Foreign Affairs Council in Luxembourg, where he discussed about the role of Iran in the region and the Joint Comprehensive Plan of Action in light of the upcoming report from US President Donald Trump to the Congress on Iran’s progress realizing the plan.

Vigil held in Malta over killing of investigative journalist

Several thousand people in Malta have taken part in a vigil held after news broke of the killing of an investigative journalist, who blamed Maltese government for corruption.

American exchange indexes reach record-high values; oil prices on the rise

In response to price rise of bank stocks, three leading indexes of US exchanges reached new record heights on Monday, 16 October. In addition, US Federal Reserve System manager Janet Yellen’s prediction regarding a soon inflation rise has increased confidence that base interest rate will increase in December.

54.14% more alcohol exported from Latvia; most of it to Russia

In the first eight months of 2017, a total of 102.259 million litres of alcoholic drinks was exported from Latvia, which is 54.14% more when compared with the same period of last year.

In pictures: Ireland hit by worst storm in 50 years

Three people have been killed in Ireland in the storm Ophelia, which cut off electricity networks to 120 000 homes and businesses in the country. Gusts of wind in Ireland on Monday, October 16, had reached the speed of 44 metres per second.

Tragic wildfires in Portugal and Spain

No less than 30 people have died in wildfires in Portugal and Spain.

Ašeradens to leave Latvian government at the end of November

Latvian Economy Minister Arvils Ašeradens intends to leave the government after approval of the 2018 budget in the Saeima, which is scheduled for the end of November, as confirmed by Prime Minister Māris Kučinskis.

Islamic extremists blamed for tragic terrorist attack in Somalia

The death-toll in a tragic terror attack in the eastern African state of Somalia has reached 320 people and local authorities have stated that a key member of the cell that allegedly launched the attack on Mogadishu has told them that al-Shabaab was responsible for the crime.

Rīgas namu pārvaldnieks gets new management

From now on Rīgas namu pārvaldnieks will have a new chairman: once the head of Latio Namsaimnieks has been appointed as the new head of the company. The other vacant post has been given to Ardis Pāvilsons.

Catalonia misses ultimatum deadline, Spanish government vows to act after Thursday

The separatist Spainish region of Catalonia has missed the deadline to clarify, if it has declared independence and Madrid has received a letter from the President of the autonomous region, which still needs analysis.

What will be the consequences for companies that cheated with electricity production permits

Businesses that were caught using fake permits for electricity production in mandatory procurements will not have their permits extended, says Latvian Economy Minister Arvils Ašeradens.

Latvian tourist accommodation facilities experience increase of overnight guests

The number of nights tourists and other guests spent in Latvian hotels and other tourist accommodation facilities in the first eight months of 2018 has grown 12.2% in comparison with the same period of last year, reaching 3.524 million.

Antāne: transit industry has been on thin ice lately

«The transit industry has been on thin ice lately. Russia’s decision to divert all cargoes to its ports will only smash the ice. The government and state policy-makers have two choices – wait for the ice to break completely and watch the industry drown until finally stepping in, or act now to at least reduce the crisis for the country’s national economy, workers and their families,» says President of Baltic Association – Transit and Logistics Inga Antāne.

Kučinskis evasive in evaluation of Unity’s Economy Minister candidates

Latvian Prime Minister Māris Kučinskis remains evasive when it comes to assessing Unity’s Economy Minister candidates.

Amid alleged harassment scandal, Rõivas leaves post in Riigikogu

The former head of Estonian government Taavi Rõivas, who has been pointed to as allegedly having groped a woman during a visit to Singapore, has denied the claims, but has nevertheless decided to leave the of the second deputy speaker of the Estonian parliament.

De Facto: only one person was convicted of corruption in politics by KNAB in 15 years

In the past fifteen years, Corruption Prevention and Combating Bureau completed only one political corruption case, as concluded by De Facto programme of LTV.

Centre party victorious in Estonian local government elections

In the Estonian municipal election, held on October 15, the largest overall support has been won by Centre Party that is also the ruling party in Estonian central government.

Week to kick off warm in Latvia; weather to become colder down the line

At the beginning of the week, several cyclones will pass over Scandinavia. Cyclones will also dictate weather in Latvia. Atmospheric fronts will pass over the country multiple times throughout the week. Nevertheless, the sun will appear every now and then, as reported by State Environment, Geology and Meteorology Centre.

CEO of Samsung Electronics resigns, citing unprecedented difficulties

At the world's second largest electronics firm Samsung Electronics, its co-chief executive officer Kwon Oh-hyun has stepped down, pointing to management problems in the massive South Korean company.

Accreditation fees for sign language interpreter programmes may be reduced in Latvia

Latvian Welfare Ministry intends to work with Education and Science Ministry to find a solution for the situation with accreditation fees in the existing sign language interpreter programme, as reported by Welfare Ministry’s representative Aiga Ozoliņa.

Austrian government expected to be headed by 31-year old Kurz

In the Austrian parliamentary election, held on Sunday, October 15, victory is projected to the right-wing Austrian People's Party and its leader Sebastian Kurz could be become Europe's youngest head of government.

Week in Lithuania. Lithuania buying Norwegian air defence systems

Lithuanian defence officials have announced intention to buy Norwegian medium-range air-defence systems NASAMS in hopes of patching one of the biggest defence gaps.

Dryer and warmer weather expected

This weekend and next week, dryer and warmer weather is expected in Latvia, according to forecasts by the Latvian Environment, Geology and Meteorology Centre.

Orkla Foods Latvija invests 122 000 euros in new production line and design

Juice and sauce producer Orkla Foods Latvija owned by the Norwegian conglomerate Orkla Group is investing 122 000 euros in a new production line and in the development of new product packaging design.

Newest comments