Latvian monetary financial institutions, mainly banks, earned 294.5 million euros in the first nine months of the current year, which is 29.2% less than in the corresponding period of 2024, according to data from the Bank of Latvia.
The profits of financial institutions in September amounted to 24.4 million euros.
As of September 30, the assets of monetary financial institutions totaled 30.426 billion euros, which is 6.7% or 1.92 billion euros more than at the end of September 2024 (28.507 billion euros).
The outstanding balance of loans issued to residents of Latvia at the end of September was 15.393 billion euros, which is 9.3% more than a year earlier. Monetary financial institutions issued loans in euros to residents amounting to 15.308 billion euros (+9.2% compared to the same period last year), while the outstanding balance of loans in foreign currency was 84.9 million euros (+13.4%).
The outstanding balance of deposits from residents amounted to 20.179 billion euros, which is 9.6% more than in September last year, including deposits in euros totaling 18.889 billion euros and in foreign currency - 1.29 billion euros. Compared to the same period last year, the volume of deposits in euros increased by 10%, while in foreign currency it grew by 3.5%.
The capital and reserves of Latvian monetary financial institutions at the end of September amounted to 3.493 billion euros, which is 2.2% less than a year earlier.
In 2024, the profits of monetary financial institutions amounted to 521.5 million euros, which is 8.6% less than in 2023, including 416 million euros for the first nine months of last year.
