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In general, the SEB Group's business turnover in Latvia in the first half reached 50 million euros, or 5% more than in the first half of 2017. SEB Group costs this amounted to EUR 23.8 million, 2% more than in the first half of 2017. Profit before provisions amounted to EUR 26.2 million, or 8% of more than in the first half of the previous year
The bank was informed that provisions were recovered for the period from 1 January to 30 June, against 385 thousand euros January – June . The total amount of deposits at SEB Banka as of June 30, 2018 amounted to 2.43 billion euros, or 6% more than the deposits at the end of the first half of 2017, the total portfolio of loans to the end of June was 2.8 billion euros, 8% more than the end of June 2017. The number of active clients of the Bank as of June 30, 2018 was 443,815, or 4,200 more than the previous year. at the end of June 2017. The capital and reserves of SEB banka amounted to 396.7 million euros at June 30, 2018 and badets amounted to 3.335 billion euros at end of June 2018.
"The first semester is marked by new prudential requirements in the sector, Thanks to SEB's strategy of focusing on local residents and businesses in Latvia, our actions have not affected SEB banka's customer deposits have increased by 3% since January, but by 6% compared to the first six months of the year. However, by highlighting the future development of the financial sector, the dialogue initiated by the Prime Minister and the Financial Sector Advisory Council aims to streamline and foster positive developments in the banking sector to ensure banking transparency and re-establish the international reputation of the Latvian financial sector. In this context, I greatly appreciate the praise of the Sustainability Index, ranked for the second consecutive time in the "SEB banka" Platinum, which takes into account the real work of the bank and the quality and availability of our services long-term. She added that the rate of economic growth is currently high, which in some sectors poses challenges for both the availability of labor and the increase in compensation. "We maintain and seek responsible lending principles for individuals and businesses.The customer's desire and borrowing capacity is reflected in our loan portfolio, which has increased by 8% since the end of June Last year, this was facilitated by a significant increase in newly increased funding of 12% in the second quarter and 23% over the first half of this year with the first half of last year. "The main stimulus for more active loans is the relatively rapid increase in people's compensation and the improvement in overall economic sentiment," says Teter
. "We find that shopping centers are growing considerably Last December, we allocated € 34 million to the Linstow group to expand the "Origo" shopping center to create a modern multifunctional center. Such development plans are likely to be related to the greater capacity of the population and the desire to improve their standard of living. I absolutely want to mention a transaction that does not happen so often in Latvia – we have the opportunity to be a financial partner of Groglbad and finance the buyback transaction of the company. It is a good story of the ambition of the management team of the Latvian company to become itself the owner of the company, with the financial support of his bank and his foreign investor, in repurchasing shares to international investors "
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