Bloomberg News

Latvian Banks’ Loan-Loss Provisions Fell to 10.2% in March

April 27, 2012

Latvian banks allocated loan-loss provisions of 10.2 percent of total credit portfolios in March, down from 11.7 percent the previous month, after Parex Banka had its banking license withdrawn, the banking regulator said.

Provisions were 1.25 billion lati ($2.37 billion) at the end of last month, the regulator said in an e-mailed statement. Provisions in February without Parex would have lowered the figure to 10.1 percent, according to the statement. Loans late by more than 90 days were 13.7 percent of the total, compared to 17.4 percent at the end of February, the regulator said. Adjusted for Parex, loans late by more than 90 days would have been 13.7 percent in February, it said.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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