Operating results of Latvian banks
Summary Q3 2019

Assets – EUR 23 billion

Total assets of Latvian commercial banks were EUR 23.0 billion as of September 30, 2019.

The value increased by EUR 0.3 billion or 1% in the 3rd quarter of 2019.

The value of total assets was EUR 31.9 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.
However, the value of gross assets has stabilized at the level of EUR 22.6-23.0 billion in 2019.

Equity EUR 2.82 billion

Total capital increased by EUR 0.06 billion or 2% in the 3rd quarter of 2019, but the value decreased by EUR 0.03 billion or 0.5% since the beginning of 2019.

Total equity of the Latvian banking sector is stable at the level of EUR 2.80 billion in 2019.

Total loan portfolio increases

Total portfolio was EUR 13.9 billion as of September 30, 2019.

The value increased by EUR 0.01 billion or 0.5% in the 3rd quarter of 2019. Loan portfolio increased by EUR 0.35 billion or 2.5% in 9 months of 2019. The portfolio increased four quarters in a row; the increase was observed in private and corporate segments.

Deposits portfolio stabilized

Total deposits of the Latvian banking sector were EUR 16.6 billion as of September 30, 2019.

The portfolio has decreased by EUR 0.07 billion or 0.4% in the 3rd quarter 2019, but the value increased by EUR 0.22 billion or 1% since the beginning of 2019.

Deposits of private persons continue to increase; the increase is 5.5% in 2019. They make 54% of total deposits portfolio.

Not-audited net profit of Latvian banking sector in 9 months 2019 reached EUR 198 million

Total profit of banks in Latvia in 9 months 2019 was by EUR 34 million or 15% smaller compared to the results of 9 months 2018.

TOP 5 most profitable Finance Latvia Association member banks in 9 months 2019:

1. Swedbank – EUR 83.3 million;
2. SEB banka – EUR 37.7 million;
3. Citadele banka – EUR 32.1 million;
4. Luminor Bank Latvia branch – EUR 15.9 million;
5. LPB Bank – EUR 4.9 million.

 

 

Payment cards 

Results of previous periods

2019

30.09.2019.

30.06.2019

31.03.2019

Pension funds