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Non-resident deposits at Latvian banks has fallen to historically lowest level - 20.5%
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    Non-resident deposits at Latvian banks has fallen to historically lowest level - 20.5%

    RIGA, Sept 13 (LETA) - Non-resident deposits at Latvian banks has dropped to its historically lowest level - 20.5 percent, the Financial and Capital Market Commission informed LETA.

    Non-resident deposits have reduced from EUR 12.4 billion in 2015 to EUR 3.2 billion at the end of August this year.

    Deposits by local residents at Latvian banks have reached 79 percent of the total amount of deposits. Meanwhile, deposits by residents of EU member states are currently at 10 percent, deposits by residents of CIS states at 5 percent, and deposits by residents of other countries - 6 percent.

    The FKTK points out that much work has been invested since 2015 to reduce financial risks associated with non-resident deposits. The financial watchdog also points out that Latvia is not categorized anymore among those countries with a high level of non-resident deposits.

    • Published: 13.09.2018 18:04
    • Raivis Spalvēns, LETA
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