Banks
Luminor says bank tax harmed its profits
Luminor says bank tax harmed its profits
Baltic bank Luminor generated increased pre-tax profits of 51.7 million euros in the fourth quarter of 2023, a 10.7% increase on the same period a year ago period – but said its profits would have been bigger if it didn't have to pay so much in tax.
Bumper profits for Latvia's banks last year
Bumper profits for Latvia's banks last year
Latvian financial institutions, including banks, worked with a profit of EUR 573.5 million last year, which is 75% more than in 2022, according to information released by the Bank of Latvia, reports the LETA newswire.
Swedbank Latvia reports doubled profits in 2023
Swedbank Latvia reports doubled profits in 2023
In 2023, Swedbank Latvija, the largest commercial bank in Latvia, worked with a profit of EUR 274 million, which is twice as much as the bank's profit of EUR 132 million in the previous year, the bank reported January 24.
Latvian central bank plans to provide future crypto services
Latvian central bank plans to provide future crypto services
The Council of Latvijas Banka, the Latvian central bank (LB) has approved an initiative that will enable non-bank payment service providers – payment and e-money institutions – and in the future also crypto-asset service providers to open an account with Latvijas Banka for the segregation of their customer funds, LB said in a release December 15.
Latvia's Signet Bank buys LPB Bank
Latvia's Signet Bank buys LPB Bank
Latvian boutique bank Signet Bank confirmed December 12 that it had completed the takeover of another Latvian bank, LPB Bank.
EIB and Luminor sign smaller company finance agreement
EIB and Luminor sign smaller company finance agreement
The European Investment Bank (EIB) and Luminor Bank AS said November 27 they have signed a €115 million agreement to facilitate additional lending to small to medium sized companies and mid-caps in Estonia, Latvia and Lithuania.
Latvia pushes its AMLA HQ bid in Brussels
Latvia pushes its AMLA HQ bid in Brussels
Thursday, November 9 saw an event held in Brussels, Belgium to present Latvia as the possible future seat of the new European Union (EU) agency, the European Anti-Money Laundering Authority (AMLA).
Main banks in Latvia acting "like a cartel" says former Finance Minister
Main banks in Latvia acting "like a cartel" says former Finance Minister
The way in which the four largest commercial banks in Latvia have reacted to proposals by the Budget and Finance Committee of the Saeima for the support of mortgage borrowers resembles the operation of a cartel, said the head of the committee Jānis Reirs (New Unity) in an interview with Latvian Television's program "Rīta Panorāma" (Morning Panorama) November 9.
Nordic Investment bank racked up EUR 195m profit in Q3
Nordic Investment bank racked up EUR 195m profit in Q3
During the first nine months of 2023, the Nordic Investment Bank (NIB), of which Latvia is one of the shareholders, delivered net profits of EUR 195 million (EUR 84 million in the same period in 2022) and disbursed EUR 2,050 million (EUR 2,883 million), it said November 1.
Luminor bank posts EUR 65m third-quarter profit
Luminor bank posts EUR 65m third-quarter profit
Baltic bank Luminor reported its third quarter financial figures November 2, saying its "credit quality remains robust with non-performing loans at 1.3% of gross lending." 
Latvian central bank aims to cash in on basketball success
Latvian central bank aims to cash in on basketball success
Latvijas Banka, the Latvian central bank (LB), will release a special silver collector coin on October 31 dedicated to the centenary of basketball in Latvia. 2023 marks the centenary of the Latvian Basketball Federation, which was founded in 1923.
Rīga wants to be European anti-money laundering capital
Rīga wants to be European anti-money laundering capital
Latvia has hopes of transforming its former reputation as a money laundering hub into that of an anti-money laundering hub with confirmation from the Ministry of Finance (FM) that Rīga will bid to become home to a new European agency, the European Anti-Money Laundering Authority (AMLA).

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