In Latvia, four banks have been operating at a loss in the first half of this year, including the largest losses “Citadel“, according to data compiled by the Financial Industry Association.
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In the first half of 2020, Citadele Bank’s loss was EUR 30.321 million, compared to the previous year’s profit.
Industra Bank, PrivatBank and Expobank have also made losses in the first six months of this year.
Industra Bank’s loss in the first half of this year was 2.879 million euros, compared to a year earlier, PrivatBank’s loss was 2.833 million euros, which is four times more than in the first half of 2019, while Expobank’s loss increased by 22.3% , reaching 674,800 euros.
At the same time, the highest profit in the first half of 2020 among Latvian banks was “Swedbank“- In the first half of this year, Swedbank’s profit was 44.254 million euros, which is 26.4% less than in the first half of 2019.
Seko “SEB banka “, whose profit in the first half of this year was 13.582 million euros, which is 43.4% less than in the corresponding period of 2019.
The data of the association do not include the data of “Rietumu banka”, which is not a member of the association, however, according to the information published by the bank, “Rietumu banka” profit in the first half of this year was 9.7 million euros, which is 35.8% less than in 2019. in the first half of the year, thus ranking “Rietumu banka” in the third position according to the amount of profit.
The association’s data also show that Rigensis Bank’s profit in the first half of this year was 3.809 million euros, which is 48.8% more than a year earlier, while LPB Bank’s profit was 2.466 million euros, a decrease of 20.6%. .
At the same time, Signet Bank’s profit in the first half of this year was 906,700 euros, an increase of 5.6 times compared to the first half of last year, “Regional Investment Bank’s profit was 730,900 euros, a decrease of 2.7 times.”BlueOrange Bank “profit was 558,100 euros, a drop of 7.7 times, but”Baltic International Bank“The profit was 273,600 euros, which is 7.3% less.
The Association does not inform about the results of its member “OP Corporate Bank” branch in Latvia, as well as about “Luminor Bank“Results of the Latvian branch.
In total, the Latvian banking sector in the first half of 2020 operated with a profit of 47.324 million euros, which is 62.8% less than a year earlier.
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