Swedbank, Rietumu and ABLV most profitable in 2016

Swedbank, Rietumu Banka and ABLV Bank were the most profitable banks operating in Latvia last year, according to data by the Association of Latvian Commercial Banks.

Swedbank posted €92.9 million in profit in Latvia last year.

Rietumu Banka posted €86.356 million in profit, while ABLV Bank posted €79.337 million in profit.

The fourth most profitable bank operating in Latvia last year was SEB Banka - €51.162 million, followed by Citadele - €36.278 million, DNB Banka - €30.174 million.

All other banks operating in Latvia posted profits of €11 million an less.

The Association of Latvian Commercial Banks has not published information about Nordea Bank.

The Latvian banking sector operated with €453.754 mullion in profit last year, an increase of 9.1% over 2015.

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