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Friday 18.08.2017 | Name days: Liene, Helēna, Elena, Ellena, Liena
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Swedbank: small companies contribute to appearance of new loans

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUSwedbank’s profits in Latvia reached EUR 52 million in the first six months of 2017. This is a similar result when compared with the same period of last year.

«Positive trends in the economy also apply to the growth of lending, and last quarter was especially notable with increased demand among households and small businesses. This year Swedbank funding has helped 2,150 Latvian businesses to develop their activities and 2,100 families to buy new homes. We are also happy that Latvian residents are very active users of digital solutions. For example, Latvia has the largest number of Smart-ID users in Baltic States. Swedbank’s quick notifications added to the mobile app just recently were very warmly welcomed,» said Swedbank managed in Latvia Reinis Rubenis.

Loan volumes have grown 1% this year. This was largely contributed by the increase of corporate and private leasing, as well as consumer finance portfolios, as the bank’s representatives explain the data.

The volume of deposits has grown 1%. Increase is noted in the volume of resident deposits. Corporate deposit volume has reportedly declined this year.

The net amount of the previously released loan savings reached EUR 2.7 million (EUR 1.7 million in the same period of 2016).

Revenue and expenditure

Net interest income has grown 1%. This is mostly associated with increased lending volumes. Net income from commission fees has grown 3% thanks to higher client activity in the use of banking services.

General expenditures have grown 3%. This was largely caused by growth of costs associated with regulations.

The Smart-ID solution introduced in Q1 2017 turned out exceptionally successful and has made banking services even more convenient for client. It is used as an identification tool and a tool for signing contracts and confirming payments.

Among Swedbank clients in Latvia there are already more than 73,000 Smart-ID users.

According to a survey performed by Emor (TNS), Swedbank remains the loved brands in Latvia and the most favoured brand in the financial sector in all Baltic States.

It should be noted that Smart-ID solution in Latvia is already used by Swedbank and SEB Bank. SK ID Solutions does not exclude the possibility of expanding and offering this service to other e-service providers in Latvia.

Ref: 225.109.109.6109


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