Latvia's Economic Response to Covid-19
Parent Banks are financially sound and profitable
The parent institutions of Latvia's banks have high credit ratings, good profits and are well-capitalized
Key Highlights
•
Financial performance and capitalization level of the parent banks is strong
•
Nordic banking groups' profitability is higher than the EU average
•
The ability and proven willingness to support subsidiaries in Baltics by the largest parent banks in Nordic countries enhance risk absorption capacity of the Latvian
banking sector
Since January 2019 Luminor Bank Latvia continues its operations as a branch of Estonia's Luminor Bank
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Banks Financial Information
Banking Groups' Equity Prices (01.01.2019 = 100, local
currency)
150
Swedbank
SEB
Luminor Latvia branch*
140
DNB
Nordea
130
120
Assets (EUR mil)*
7,764
4,288
3,618
110
CAR (%)*
31.2
20.7
100
ROE (%)*
8.4
9.2
90
S&P Global long-term rating
A+
A+
80
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70
Moody's long-term rating
Aa3
Aa2
Baa2
60
Fitch long-term rating
A+
AA-
50
2019
2020
2021
Source: Association of Latvian Commercial Banks - financial reports, 4th quarter 2020
Banks' investor relations (ratings at group level)
STOXX Europe 600 Banks
Swedbank
SEB
DNB
Nordea
In January 2019 Luminor Bank Latvia became a branch of Estonian Luminor Bank. Bank ratings (at
Group level)View entire presentation