| Revenues to Latvian banks from loans reach EUR 1.59 b in 2008 |
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| Thursday,February 05,2009 Posted: 15:52 BJT(0752 GMT) |
| From:Baltic News Service Article type:Original |
RIGA, Feb 04, BNS - Last year Latvian banks received 1.123 billion lats (EUR 1.597 b) in revenues from loans, which is by 25.3 percent or 226.823 million lats from 2007, said the Finance and Capital Market Commission (FKTK).
Revenues to Latvian banks from loans issued to non-monetary financial institutions (non-banks) in 2008 made 61.3 percent of all revenues to banks as compared to 57.6 percent in 2007.
Expenses on interest rates for deposits by non-monetary financial institutions last year amounted to 307.242 million lats, up 35.8 percent or 80.935 million lats from a year ago.
Last year banks received 228.807 million lats in commissions and other revenues, which is by 5.4 percent or 11.636 million lats more than in 2007.
Aggregate revenues to Latvian banks in 2008 amounted to 1.833 billion lats, up 17.7 percent or 276.009 million lats from 2007. Meanwhile, expenses to banks last year reached 1.755 billion lats, which is by 48.1 percent or 569.781 million lats more year-on-year.
Last year Latvian banks reported an aggregate profit of 77.525 million lats, which is down 79.1 percent from 2007 when banks earned 371.297 million lats in profit.
There are 27 banks in Latvia, including six branches of foreign banks.
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