For the first time in seven years, there are more new loans than written-off loans in Latvia, 03.03.2016

In 2015, commercial banks' total loan portfolio has increased by 0.1%. It means that for the first time in seven years, there are more granted loans than written-off loans. The positive changes have been driven by increased lending to enterprises – new loans granted to the Latvian enterprises amount to 1.34 billion euros, an increase of 5% than the year before. However, banking experts suggest that 2016 will bring lots of challenges – the delay in opening the EU funds has a negative impact on both individual sectors and the economy as a whole.

ALCB: banking sector supports the forthcoming accession of Latvia to the OECD, 02.03.2016

Along with support to the forthcoming accession of Latvia to the Organisation for Economic Co-operation and Development (OECD), the Association of Latvian Commercial Banks expresses its satisfaction that Latvia has approached the final steps of the accession procedure. Assessing the importance of the last stage of accession negotiations, the Association of Latvian Commercial Banks (ALCB) confirms its interest in further co-operation with public institutions in terms of active fight against money laundering and terrorism financing, including taking into consideration the recommendations given by the OECD.

Bank performance in Latvia 2015: year of steady progress, 18.02.2016

According to the preliminary data on Latvian banks' performance for 2015 compiled by the Financial and Capital Market Commission (FCMC) there has been steady progress in the Latvian banking sector in 2015, still providing a high level of key performance indicators, i.e. levels of liquidity and capitalization, positive profitability development, increased new lending and improved overall quality of loan portfolio, as well as a growth in resident deposit rate that considerably exceeded the growth rate of Latvian national economy.
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