In 11 months of 2023 Latvian monetary financial institutions, mainly banks, operated with profits of EUR 657.2 million, which is 2.2 times more when compared to the same period of 2022, according to information published by the Bank of Latvia.
In November 2023 monetary financial institutions operated with profits of EUR 61 million.
The total worth of assets owned by Latvian monetary financial institutions was EUR 27.469 billion in November 2023, which is 4.3% or EUR 1.131 billion more when compared to the end of November of 2022, when their assets were worth EUR 26.338 billion.
At the end of November 2023 the balance of loans issued by monetary financial institutions to residents was EUR 13.722 billion, which is 1.1% more than a year prior. The volume of loans issued to residents reached EUR 13.641 billion (1.2% more than last year). The balance of loans issued in foreign currently was EUR 81.3 million (15.8% less than last year).
The balance of deposits from residents reached EUR 17.612 billion at the end of November, which is 1.4% more than a year prior. Deposits in euro amounted to EUR 16.493 billion and EUR 1.12 billion in foreign currencies. Compared to the end of November 2022, the amount of deposits attracted in euro has increased by 2.8%, but the amount of deposits attracted in foreign currency has decreased by 15.7%.
The capital and reserves of Latvian monetary financial institutions was EUR 3.703 billion at the end of November, which is 16.3% more than the end of November 2022.
In eleven months of 2022 monetary financial institutions operated with profits of EUR 297.8 million, whereas the total profits of monetary financial institutions in the whole of 2022 was EUR 326.3 million, which is 26.5% more than 2021.
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Profits of Latvian financial institutions reach 657.2 million in 11 months
