Swedbank, Rietumu and ABLV most profitable in 2016

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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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