The volume of loans issued by Latvia’s commercial banks has grown by 20 per cent in the first half of 2004, with Hansabank increasing its credit portfolio the most. At the end of June, the total loans issued by banks reached LVL 3.6 billion (Ђ5.5bn).
Hansbanka has grown its credit portfolio by LVL 148 million, Parex Bank by LVL 115 million and Unibanka by LVL 90.7 million.
Parex Banka received a syndicated loan of LVL 117 million in July and is planning to channel it into SME loans. NORD/LB Latvija also has plans to develop the SME segment in the autumn.
In the first six months of 2004 banks have reached a profit figure of LVL 49.5 million, up 50 per cent from the first half of 2003.
Unibanka earned LVL 8.1 million, Rietumu Banka LVL 6.2 million, Parex Banka LVL 6.1 million. Only Baltic International Bank has operated at a loss, atLVL 42,500.
Source: Dienas Bizness
