Latvian monetary financial institutions (MFIs), mainly banks, made a profit of EUR 528.4 million in nine months this year, which is 2.5 times more than in the corresponding period of 2022, according to the information released by the Bank of Latvia.
Among them, monetary financial institutions worked with a profit of 57.5 million euros in September.
The total amount of assets of monetary financial institutions on September 30, 2023 was 26.918 billion euros, which is 7.2% or 1.798 billion euros more than at the end of September 2022, when the assets of monetary financial institutions were 25.12 billion euros.
At the end of September this year, the balance of loans issued to residents of Latvian monetary financial institutions was 13.649 billion euros, which is 2.1% more than a year ago. Among them, Latvian monetary financial institutions had granted 13.56 billion euros in loans to residents in euros, which is 2.2% more than a year ago, while the balance of loans issued in foreign currency was 89.5 million euros, which is 15.3% less.
The balance of deposits attracted from residents at the end of September was 17.478 billion euros, which is 1.5% more than a year ago. Among them, deposits in euros were in the amount of 16.269 billion euros, and in foreign currencies – in the amount of 1.209 billion euros. Compared to the end of September 2022, the amount of deposits in euro has increased by 2.6%, while the amount of deposits in foreign currency has decreased by 11.4%.
On the other hand, the capital and reserves of Latvian monetary financial institutions at the end of September were 3.567 billion euros, which is 14.6% more than at the end of September 2022.
In nine months last year, monetary financial institutions worked with a profit of 213.1 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 clients who are not monetary financial institutions, as well as grant loans and invest in securities at their own expense.
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2023-10-26 14:11:07
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