Last year, the Latvian banking sector operated with a profit of 151.543 million euros, which is 80.5% more than in 2019, according to data published by the Financial and Capital Market Commission (FCMC).
In 2019, the total profit of the banking sector was 83.935 million euros.
At the end of last year, the total assets of the banking sector were 24.318 billion euros, which is 8.4% or 1.893 billion euros more than at the end of 2019, when the total assets of the banking sector amounted to 22.425 billion euros.
At the end of 2020, banks had attracted 20.519 billion euros in deposits, which is 10.1% or 1.877 billion euros more than at the end of 2019.
Among them, the amount of domestic customer deposits increased by 19.1% or 2.677 billion euros compared to the end of 2019, reaching 16.669 billion euros at the end of the year.
Deposits of domestic households increased by 12.8% or 965.647 million euros, reaching 8.534 billion euros at the end of the year, while deposits of domestic non-financial corporations increased by 17.4% or 826.822 million euros, reaching 5.589 billion euros.
At the end of 2020, the total loan portfolio of the banking sector was 19.707 billion euros, which is 1.7% or 334.996 million euros more than at the end of 2019.
Among them, the amount of loans issued to domestic customers at the end of 2020 amounted to 17.08 billion euros, which is 1.9% or 326.56 million euros more than at the end of the previous year.
At the end of last year, loans to domestic households amounted to 5.23 billion euros, which is 0.5% or 23.676 million euros more than at the end of 2019, while loans to domestic non-financial corporations amounted to 5.65 billion euros, which is a decrease by 5.5% or EUR 330.243 million.
FCMC data also show that market concentration in the banking sector has increased. The market share of the five largest banks in assets at the end of 2020 was 88.37% (at the end of 2019 – 86.03%), in loans – 90.08% (89.23%), but in deposits – 89.97% (88, 07%).
–
