Profit of Latvian Banks Decreases
According to the forecasts of representatives of the Latvian bank
sector, in 2008 the profit increase of the Latvian banks will be
considerably lower, than in 2007.
Tom Silinsh, the head of finance administration of Hansabanka, informed mass-media that in 2008 the banks’ profit will be affected by such factors, as growth of the interest rates of the banks’ investments in lats, and also credit losses. According to the forecasts of T. Silinsh, the current year, 2008, will be more difficult, but a long-term potential of the developing banking sector of Latvia, as that of all Baltic countries, is positive.