Latvian banking industry provisions for bad loans grew 0.5 percentage point to 11.6 percent from the previous month, the country’s banking regulator said in an e- mailed statement today.
Provisions for bad loans grew to 1.53 billion lati ($2.91 billion) in January, according to the statement. The Latvian banking sector had a loss of 1.7 million lati in January on Krajbanka, it said.
To contact the reporters on this story: Milda Seputyte in Vilnius at firstname.lastname@example.org; Aaron Eglitis in Riga at email@example.com
To contact the editor responsible for this story: Balazs Penz at firstname.lastname@example.org