_NEWS_PRINTED<br>http://www.dcc.lv/?ct=news&fu=read&id=52<h3>Banking sector's profit at LVL 18.9 million at end-February</h3><p>Anton<br>2011.03.26 10:09
</p>RIGA, March 25 (NOZARE.LV) - Latvian banking sector was profitable in February for a second month in a row, and the sector's total profit for the first two months was LVL 18.9 million, as Financial and Capital Market Commission representative Anna Dravniece told the business portal "Nozare.lv".

Last February, Latvian banking sector's total losses stood at LVL 59.2 million.

This year, 15 Latvian banks and four foreign banks' branches, whose total share of the banking sector's assets is 81.1 percent, posted LVL 28.8 million in profit altogether.<p><P>By the end of February, the total amount of deposits at Latvian banks increased to LVL 10.8 billion.</P>
<P>The total amount of loans issued by banks in February was LVL 65.5 million, including LVL 23.6 million issued to Latvian enterprises, LVL 9.2 million to households and LVL 32.7 million to non-residents. Loan portfolios of five Latvian banks and two foreign banks' branches increased in February, nevertheless, the banking sector's total loan portfolio reduced 1 percent or LVL 143.6 million, down to LVL 14 billion at the end of February.</P>
<P>The amount of delinquent loans also continued to decrease in February. Banks' provisions for "bad" loans remained largely unchanged in February at LVL 1.6 billion or 11.5 percent of banks' total loan portfolio.</P>
<P>As reported, this past January Latvia's banking sector returned to profit after a two-year break, earning LVL 10.9 million altogether.</P>
<DIV id=ItemSources>Daiga Grūbe Nozare.lv<BR>25.03.2011</DIV>
<DIV class=ItemCopyright>Copyright © LETA</DIV><script>
window.print();
</script>