Within the first quarter, Latvian banks labored with a revenue of 165.765 million euros

Within the first quarter of this yr, the Latvian banking sector made a revenue of 165.765 million euros, which is 15.6% greater than within the corresponding interval of 2023, in keeping with knowledge printed by the Financial institution of Latvia.

Banks’ curiosity revenue within the first three months of 2024 got here to 385.764 million euros, which is 48.3% greater than within the first quarter of 2023, and curiosity prices have been 99.98 million euros, which is a rise of 4 – complicated

Then again, financial institution fee revenue within the first quarter of this yr was 82.317 million euros, which is 3.2% greater than within the first quarter of 2023, whereas financial institution fee prices elevated by 5.7% – as much as 24.03 million euros.

On the finish of March 2024, the belongings of the banking sector totaled 28.73 billion euros, which is 1.7% or 483.162 million euros greater than on the finish of 2023, when the belongings of the banking sector got here to twenty-eight.247 billion euros.

The variety of loans issued by banks to non-bank purchasers on the finish of March this yr was 15.977 billion euros, which is 0.5% or 76.797 million euros greater than on the finish of final yr final yr.

Amongst them, the variety of loans given to home prospects was 13.47 billion euros on the finish of March, which is 0.2% or 29.287 million euros greater than on the finish of final yr.

The variety of loans granted to home households reached 6.248 billion euros on the finish of March, which is 0.7% or 45.744 million euros greater than on the finish of 2023, and the variety of loans granted was give home non-financial firms 6.348 billion. euros, which is a discount of 0.5% or 29.431 million euros, together with 3.731 billion euros granted in loans to small and medium companies, which is 1.5% or 54.688 million euros greater than on the finish than final yr.

Then again, banks had attracted 23.852 billion euros in deposits on the finish of March, which is 3% or 687.739 million euros greater than on the finish of 2023.

In comparison with the top of 2023, the quantity of home buyer deposits elevated by 1.3% or 252.163 million euros and was 19.525 billion euros on the finish of March.

The variety of home investments elevated by 0.8% or 81.312 million euros within the first quarter, reaching 10.362 billion euros on the finish of March this yr, whereas the variety of investments by home non-financial firms elevated by 1.9% or 137.984 . million euros, reaching 7.586 billion euros.

Information from the Financial institution of Latvia additionally present that the market share of the 5 largest banks in belongings on the finish of March 2024 was 88.88% (on the finish of 2023 – 88.95%), in loans to non-resident prospects financial institution – 89% (89.07%), however in shopper deposits – 89.29% (89.97%).

Within the first quarter of 2023, the overall revenue of the banking sector was 143.372 million euros, and final yr it was a complete of 618.297 million euros.