Latvian monetary financial institutions (MFIs), mainly banks, worked with a profit of EUR 400.4 million in seven months this year, which is 2.6 times more than in the corresponding period of 2022, according to the information released by the Bank of Latvia.
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Among them, monetary financial institutions worked with a profit of 64.5 million euros in July.
The total amount of assets of monetary financial institutions on July 31, 2023 was 25.822 billion euros, which is 1.9% or 474 million euros more than at the end of July 2022, when the assets of monetary financial institutions were 25.348 billion euros.
At the end of July this year, the balance of loans issued to residents of Latvian monetary financial institutions was 13.477 billion euros, which is 3.7% more than a year ago. Among them, Latvian monetary financial institutions issued 13.88 billion euros in loans to residents in euros, which is 7.7% more than a year ago, while the balance of loans issued in foreign currency was 89.4 million euros, which is 14.4% less.
The balance of deposits attracted from residents at the end of July was 17.719 billion euros, which is 4.5% more than a year ago. Among them, deposits in euros were 16.451 billion euros, and in foreign currencies – 1.269 billion euros. Compared to the end of July 2022, the amount of deposits in euro has increased by 5.1%, while the amount of deposits in foreign currency has decreased by 2.6%.
On the other hand, the capital and reserves of Latvian monetary financial institutions at the end of July amounted to 3.435 billion euros, which is 12% more than at the end of July 2022.
In seven months last year, monetary financial institutions worked with a profit of 155.9 million euros, but in 2022, the total profit of monetary financial institutions was 326.3 million euros, which is 26.5% more than in 2021.
Monetary financial institutions are credit institutions and financial companies that accept deposits from customers who are not monetary financial institutions, as well as grant loans and invest in securities at their own expense.
2023-08-28 13:04:25
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