Monetary Financial Institutions of Latvia (MFI), mainly banks, operated with profits of EUR 96 million in the first two months of 2024. This is 10.2% more when compared to the same two months of 2023, according to data published by the Bank of Latvia.
In February monetary financial institutions operated with profits of EUR 47.2 million.
The total size of assets owned by monetary financial institutions was EUR 28.239 billion on the 29th of February 2024, which is 5.9% or EUR 1.584 billion more when compared to the end of the same month of 2023.
At the end of February this year, the balance of loans granted by Latvian monetary financial institutions to residents amounted to EUR 13.583 billion, which is 2.5% more than a year ago. Among other things, Latvian monetary financial institutions issued EUR 13.499 billion in loans to residents, which is 2.5% more than a year ago, while the balance of loans issued in foreign currency was EUR 83.8 million, which is 0.7% more.
At the end of February, the balance of deposits attracted from residents amounted to EUR 18.252 billion, which is 2.4% more than a year ago. Of these, deposits in euro amounted to EUR 17.131 billion and in foreign currencies to EUR 1.121 billion. Compared to the end of February 2023, the amount of deposits attracted in euro has increased by 3.9%, but the amount of deposits attracted in foreign currency has decreased by 16.2%.
At the end of February, the capital and reserves of Latvian monetary financial institutions amounted to EUR 3.737 billion, which is 13% more than at the end of February 2023.
In the first two months of 2023, monetary financial institutions operated with profits of EUR 87.1 million, whereas in the entire 2023 the profits of monetary financial institutions was EUR 573.5 million, which is 75.8% more when compared to 2022.
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Profits of Latvian financial institutions reaches EUR 96 million in first two months of 2024
