The Baltic States continue to have the highest loan interest rates in the eurozone, according to data from the European Central Bank (ECB), ERR reports. The average interest rate in the three Baltic countries was 5.9% at the end of November 2023. The eurozone average stood at 4.1%. Meanwhile, the average interest on consumer loans…
The Latvian parliament, the Saeima, has approved the seizure of the so-called Moscow House in central Riga, LSM reports. The state is likely to auction the property. The building used to serve as a Russian cultural centre owned by the Moscow city government. Latvia’s State Security Service (VDD) reported that the building was used to…
Poland’s Bank Polska Kasa Opieki (Bank Pekao) plans to open a branch in Lithuania, according to Gediminas Simkus, head of the Bank of Lithuania, BNS reports. Speaking in an interview with 15min, Simkus said that Bank Pekao’s representatives visited Lithuania in December 2023. He was optimistic about the bank setting up operations in Lithuania. Sources…
Germany’s Deutsche Bank is considering opening a service centre in Lithuania, Elijus Civilis, head of Lithuania’s state-run investment promotion agency, Invest Lithuania, confirmed, BNS reports. Civilis said that negotiations with Deutsche Bank were ongoing and that the bank was evaluating various options for possible operations in Lithuania. Deutsche Bank has not commented on its plans….
More than a third of Latvian residents believe that 2024 will be financially better for them than 2023, according to a Norstat poll for Luminor Bank, Baltic News Network reports. The survey showed that 38% of residents expect this year to be financially better than last year. Young people aged 18-29 years are particularly optimistic,…
The Baltic banking group, Luminor, reported a net profit of EUR 178.3mn in the first nine months of 2023, which was up more than double from EUR 84.4mn in the same period of 2022. Net income on interest amounted to EUR 399.1mn (EUR 202.4mn) and net income on fees and commissions to EUR 63.8mn (EUR…
The Latvian government does not plan to make major changes to taxation in 2024, Finance Minister Arvils Aseradens assured, LSM reports. He said that now was not a good time to make changes in VAT, labour taxes, personal income tax, or corporate income tax. However, the Ministry of Finance will propose raising the excise duties…
The most attractive employer in Estonia in 2023 is LHV Bank, according to branding agency Instar’s poll, Estonian World reports. The survey showed that LHV Bank was the most attractive employer both among university students and experienced workers. Meanwhile, the most attractive employer among vocational school students was entertainment company Apollo Group. The second-most attractive…
Estonia’s central bank, the Bank of Estonia, opposes the government’s plan to replace Estonia’s self-imposed budgetary discipline rules with the EU’s less stringent budget rules, ERR reports. Ülo Kaasik, vice-president of the Bank of Estonia, insisted that changing the rules simply because of an inability to meet them was never a good idea. He warned…