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Ceturtdiena 20.09.2018 | Name days: Marianna, Ginters, Guntra
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Banking sector concludes first half-year of 2012 with earnings

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The banking sector concluded the first half-year of 2012 with total earnings of 78.5 million LVL. According to the data from the Finance and Capital Market Commission(FCMC) 14 Latvian banks and five foreign bank branches, market proportion of which makes up 90.6% in the total banking assets, operated with earnings.

Before the beginning of June, banking sector earnings before savings and taxes almost reached 140 million LVL – by 24% more than in the same period of 2011. Net fee and commission income rose by 30.6% compared to the same period of 2011; net interest income increased by 9.3%; provisions for bad debts decreased by 14.6%.

Activity indexes of all Latvian banks complied with relative normative regulations in June. Banking sector profitability remained on the same high level, and profitability index in the end of June was 59.3%. This index was 59.4% in May, but the minimum requirement is 30%.

Banking sector capital sufficiency index remained on the same level and was 17.2% in the end of June. The minimum capital sufficiency index requirement is 8%. However, Tier I capital index was 14.9% in June.

Ever since the beginning of 2012, eight banks have increased their capitals by 20.5 million LVL.

Ref: 104.109.109.2606


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