Published: 08.09.2023.
At the end of June of this year, 29 cooperative credit unions (KKS) operated in Latvia, which managed assets in the amount of 29.3 million euros. Over the past 12 months, the KKS segment has narrowed moderately: the total amount of assets decreased by 6.9%, the number of KKS decreased by two, but the number of their members decreased by 3.3% to 14,784 members.
There is a high concentration in the KKS segment: the three largest players occupy over 80% of the marketthe six largest – over 90%.
The segment mainly works with households – they are covered by 99% of KKS issued loans and secured deposits.
The portfolio of issued loans at the end of the first half of the year was 24 million euros. The quality of loans still requires caution, but the amount of provisions for bad loans, except for one market participant, is sufficient.
On the other hand, the amount of attracted deposits at the end of June this year was 20 million euros.
This year, in the first half of the year, the KKS segment worked with losses in the amount of 200.8 thousand euros. However, without one significant market participant, the segment would have a profit of 101.8 thousand. in the amount of euros. Average capitalization remains high – 23.4%.
The performance indicators of the Latvian KKS in the first half of 2023 can be viewed in the infographic.
2023-09-08 11:17:32
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