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Latvian monetary financial institutions report EUR 151.4 million in 11-month profit

08 January 2021

Latvian monetary financial institutions (mainly banks) earned EUR 151.4 million in aggregate profit in the first 11 months of 2020, which is by 9.1 percent less than in the
same period a year ago, the Bank of Latvia reported.

 
In November, the monetary financial institutions made EUR 19.7 million in aggregate profit. As at November 30, 2020, the aggregate assets of the Latvian monetary financial institutions stood at EUR 23.151 billion, up 8.5 percent or EUR 1.82 billion against the end of November 2019 when their aggregate assets were worth EUR 21.331 billion. The balance of loans issued
to residents by the Latvian monetary financial institutions was EUR 11.402 billion in late November 2020, down 4.6 percent year-on-year. This included EUR 11.267 billion in
euro-denominated loans issued to residents, down 4.3 percent year-on-year, and EUR 135.2 million worth of loans in foreign currencies, down 24.5 percent.
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