Latvian monetary financial institutions, mostly banks, operated with profits of EUR 51.9 million in January 2023, which is 49.1% more when compared with January of the year prior, according to the information from the Bank of Latvia.
Assets of Latvian monetary financial institutions were worth a total of EUR 25.524 billion as of the 31st of January 2023. This is 5.2% or EUR 1.269 billion more when compared with the end of the corresponding month of 2022, when assets of financial institutions were EUR 24.255 billion.
At the end of January 2023 the balance of loans issued by Latvian monetary financial institutions to residents was EUR 13.272 billion, which is 7.3% more than a year prior.
Additionally the volume of loans issued by financial institutions in euro reached EUR 13.191 billion (7.4% more than a year prior), whereas the balance of loans issued in foreign currencies was EUR 81.1 million, which is 15.4% less.
The balance of deposits from residents was EUR 17.8 billion at the end of January, which is 9% more than a year prior. Deposits in euro accounted for EUR 16.474 billion and deposits in foreign currencies was at EUR 1.326 billion.
Compared with the end of January 2022, the volume of deposits in euro has increased by 8.1%, whereas deposits in foreign currency has increased by 21.7%.
The capital and reserves of Latvian monetary financial institutions were at EUR 3.268 billion, which is 5.8% more when compared with the end of January 2022.
In January 2022 monetary financial institutions operated with profits of EUR 34.8 million, whereas in 2022 in general profits reached EUR 326.3 million, which is 26.5% more when compared with 2021.
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