Half-yearly growth in non-resident deposits at 4.4%

Deposits by non-residents in Latvian banks have grown by 4.4% or 508.585 mln euros and is now at 11.972 bln euros, reported the BNS newswire today via the Financial and Capital Markets Commission (FKTK).

The proportion of non-resident deposits attracted by Latvian banks in late June 2015 was 53.5% as opposed to 51.7% in late 2014.

According to data by the FKTK, individual non-resident deposits in Latvian banks have risen by 10.4% or 229.049 mln euros and now stands at 2.434 bln euros, while non-resident business deposits have shrunk by almost 5 mln, sliding down to 9.136 bln euros.

Most of the funds are deposits of short notice, making up 10.887 bln euros of the total deposits. Most of the deposits are in US dollars (67.8%) and euros (28.2%).

There were 27 banks operating in Latvia in late June, including ten branches of foreign banks.

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