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Latvian banks aggregate H1 profit up 24 pct

Xinhua, July 29, 2015 Adjust font size:

In the first half of 2015, Latvian banks raised their aggregate profit by 24.2 percent against the respective period a year ago to 219.6 million euros (243 million U.S. dollars), the Latvian banking regulator reported Thursday.

In June 2015, the Latvian banks made 28.038 million euros in aggregate profit, the Financial and Capital Market Commission said.

Out of the 27 banks operating in Latvia, 15 banks and five Latvian branches of foreign banks closed the first half of this year with profit, according to the regulator.

The banks' loan portfolio dropped by 0.7 percent.

Deposits in the Latvian banks contracted 1.2 percent, or 271 million euros, from the end of last year, as resident deposits rose by 0.6 percent, or 61 million euros, and non-resident deposits declined by 2.7 percent, or 332 million euros due to a weakening U.S. dollar.

The aggregate assets of the Latvian banking sector shed 0.8 percent, or 243 million euros, to 31.4 billion euro. Enditem