Operating results of Latvian banks
Summary Q1 2021

The value of assets increased by EUR 1.08 billion in Q1 2021 and reached the largest value since 2018

Total assets of Latvian commercial banks were EUR 25.64 billion as of March 31, 2021. It is the largest value in the last three years period.

The value of assets increased last 4 quarters in a row, and it increased by 17% or EUR 3.68 billion in the last 12 months period.

The value of total assets was EUR 31.94 billion at the end of 2015, it had negative trend since 2016. Main reasons for assets’ decrease were the change of strategy for some of the universal banks, change of business models for specialized financial service providers, optimization of capital expenses, as well as the license withdrawal of ABLV Bank. The value has decreased by 20% or EUR 6.30 billion since 2015.

 

Total equity increases and reaches the largest value since 2018

Total equity was EUR 2.96 billion as of March 31, 2021. Total capital increased by 1% or EUR 0.03 billion in the 1st quarter 2021.

Equity value increased by 8% or EUR 0.21 billion in the last 12 months period.

The largest capital value was reached in 2015, it was EUR 3.33 billion. Since then total capital has decreased by 11% or EUR 0.37 billion.


Loan portfolio EUR 13.99 billion

The loan portfolio increased by 8% or EUR 1.04 billion in the 1st quarter 2021, and it increased by 6% or EUR 0.81 billion in the last 12 months period.

Main increase was observed in the segment of the loans to companies. This segment makes 60% of total loan portfolio. Loans to private persons has not changed significantly in the last 12 months period, they are EUR 5.37 billion.

Total loan portfolio was in the range of EUR 13.0-14.0 billion in the last three years period.


Largest deposit volume since the end of 2017

Total deposits of the Latvian banking sector were EUR 19.57 billion as of March 31, 2021. The portfolio increased by 5% or EUR 0.91 billion in the 1st quarter 2021 and reached the largest volume since the end of 2017.

Deposits increased by 14% or EUR 2.40 billion in the last 12 months period.

The largest increase was observed in deposits of corporate customers; they increased by 20% or EUR 1.37 billion in the last 12 months period. They make 42% of total deposits portfolio.
Short-term deposits make 87% from total deposit volume, remaining 13% are long-term deposits.


Not-audited net profit of Latvian banking sector in 3 months 2021 reached EUR 60 million

Total profit of banks in Latvia in 3 months 2021 increased by EUR 35 million compared to the results of 3 months 2020.

TOP 5 most profitable Finance Latvia Association member banks in 3 months 2021:

  1. SEB banka – EUR 27.2 million;
  2. Swedbank – EUR 16.4 million;
  3. Citadele banka – EUR 3.2 million;
  4. BlueOrange Bank – EUR 1.0 million;
  5. LPB Bank – EUR 0.9 million.


Data source of banking industry: the Bank of Latvia, monthly reports of monetary financial institutions in Latvia.

Statistics


Bank results, 1st quarter 2021

  • Banks’ Assets
  • Banks’ Capital and Reserves
  • Banks’ profit/loss
  • Bank Deposits
  • Bank Deposits breakdown by Term and Customer Type
  • Banks’ Issued Loans
  • Loans breakdown by Customer type

Payment Cards Statistics, 1st quarter 2021

  • Payment Cards Statistics
  • Payment Card Transaction Statistics During the Quarter
  • Payment cards, ATMs and number of points of sale with an availability to withdraw cash

Detailed results of Latvian commercial banks, 1st quarter 2021

  • Gross Assets
  • Capital
  • Profit
  • Issued Loans
  • Deposits
  • Assets under management and administration
  • Financial Ratios

Financial ratios, 1st quarter 2021











 2011

Indices of bank activities in the 4’th quarter of 2011


 2010

Indices of bank activities in the 4’th quarter of 2010


 2009

Indices of bank activities in the 4’th quarter of 2009


 2008

Indices of bank activities in the 4’th quarter of 2008


 2007

Indices of bank activities in the 4’th quarter of 2007


 2006

Indices of bank activities in the 4’th quarter of 2006


 2005

Indices of bank activities in the 4’th quarter of 2005


 2004

Indices of bank activities in the 4’th quarter of 2004


 2003

Indices of bank activities in the 4’th quarter of 2003




Payment cards 

Results of previous periods

2019

31.12.2019.

30.09.2019.

30.06.2019

31.03.2019




 

Pension funds

Members

Associate members