Latvia’s largest commercial bank, Swedbank Latvija, posted a net profit of EUR 274mn in 2023, which was a more than double increase from EUR 132mn in 2022, LSM reports. Net interest income rose by EUR 193mn and net commission income by EUR 5mn over a year. Total expenditure amounted to EUR 138mn, which was up from EUR 112mn in 2022. The bank’s overall loan portfolio increased by 6%, with household loans up 8% and corporate lending by 3%. New loans totalled EUR 1.3bn, including EUR 613mn to households and EUR 767mn to businesses. Deposits rose by 5%, including household deposits by 3% and business deposits by 8%. The bank’s loan-to-deposit ratio stood at 56% at the end of 2023, which was up from 55% a year earlier.
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