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Sunday 26.05.2019 | Name days: Varis, Eduards, Edvards
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Banks start to generate profit

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

Although over the 11 months of 2010, monetary financial institutions, mainly banks, still reported losses of 311.1 million lats; however, in November the financial institutions operated with 2.9 million lats profit.

This year, during the 11 months, the losses of monetary financial institutions (MFI) were by 56% smaller than during the exact period last year (losses of 713 million lats). In the ten months of 2010, the losses accounted for 314 million lats, the business portal BNN was informed by the Bank of Latvia.

As of November 30, the total asset volume of MFI comprised 20.07 billion lats, which is by 0.8% less than during the corresponding period a year ago.

Further on, in late November, the volume of loans issued to residents formed 12.6 billion lats – a drop of 8.2%. At the end of November, from the total loans granted for period longer than 90 days the proportion of outstanding loans has risen to 19.4 %, compared to 14.5% in late November of 2009.

The Bank of Latvia data suggest that this year in late November the volume of deposits by residents was 5.35 billion lats, of which the deposits in lats accounted for 2.67 billion lats, but in foreign currency – 2.68 billion lats. Compared to late November of 2009, this year the volume of deposits in lats has grown by 25.7%.

At the end of November, the total bank capital and provisions constituted 1.66 billion lats, which is by 152.4 million lats more than a year before.


Leave a reply

  1. Ruth.lt says:

    That’s good news for the financial sector.

  2. Gunnar_A says:

    At least some positive indicators!

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