Half-yearly bank profits at €219m

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The banking sector has operated with profits of €219.6 mln in the first six months of 2015, which is about 24% more than in the same period last year, reported LETA newswire via the Financial and Capital Market Commission (FKTK) on Wednesday.

During the first half of 2015, 15 Latvian and 5 foreign banks operated profitably. The banks' assets in Latvia were at 96.1% of the total of the sector.

According to information from the FKTK, the total sum of deposits has reduced by 1.2% or €271 mln. 

Residents' deposits grew by 0.6% or €61 mln, which was mainly due to deposits from households and non-financial associations, while non-residents' deposits shrank by 2.7% or €332 mln.

The total sum of banking assets shrank by 0.8% or €243 mln in the last month, decreasing to €31.4 bln in late June. 

The total credit portfolio shrank by 0.7% in the last month. The household portfolio of residents of Latvia shrank by 0.6% vs. 3% for non-residents.

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