3.09.2021. Operating results of Latvian banks Summary Q1 2021

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Increase in assets. The value of assets increased by EUR 1.08 billion in Q1 2021 and reached the largest value since 2018.
Total assets of Latvian commercial banks were EUR 25.64 billion as of March 31, 2021. It is the largest value in the last three years period.
Increase in deposits. Total deposits of the Latvian banking sector were EUR 19.57 billion as of March 31, 2021. The portfolio increased by 5% or EUR 0.91 billion in the 1st quarter 2021 and reached the largest volume since the end of 2017.
Not-audited net profit of Latvian banking sector.
Total profit of banks in Latvia in 3 months 2021 increased by EUR 35 million compared to the results of 3 months 2020, and reached EUR 60 million.
TOP 5 most profitable Finance Latvia Association member banks in 3 months 2021:
1. SEB banka – EUR 27.2 million;
2. Swedbank – EUR 16.4 million;
3. Citadele banka – EUR 3.2 million;
4. BlueOrange Bank – EUR 1.0 million;
5. LPB Bank – EUR 0.9 million.

Source: Finance Latvia Association