Latvia: Bank profits up 75% in 2023: central bank

Latvian financial institutions, including banks, generated total profits of EUR 573.5mn in 2023, which was up 75% from EUR 326.3mn in 2022, according to data from the Bank of Latvia, LETA reports. The total assets of monetary financial institutions amounted to EUR 27.874bn at the end of 2023, which was up 3% from EUR 27.056bn a year earlier. Loans issued to Latvian residents amounted to EUR 13.61bn (up 1.6%) and deposits to EUR 18.231bn (up 1.3%). The capital and reserves of Latvian monetary financial institutions stood at EUR 3.618bn, which was up 12.6% from the end of 2022.