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The first six months of Swedbank's salary in Latvia in 2018 amounted to 54 million euros, up 3% over the same period in 2017. "The Latvian economy continues to grow, which is reflected in customer activity and performance indicators: the volume of new loans has increased by almost 20%. Economic growth, coupled with low interest rates and the success of guarantee schemes, creates favorable conditions for obtaining viable loans for both businesses and households. Significant development is also observed in the digital habits of the company: the number of smart-ID users of the modern authentication tool has nearly tripled during the year, and the number of mobile application customers continues to grow. As a leader in song and dance, we were pleased to see how digital innovation helps to develop historical traditions – with the DzieDot app, a virtual chorus was played in Mežaparks, where everyone could participate, "Reinis Rubenis said. and deposits
The loan portfolio grew by 1%, driven by an increase in leasing to individuals and businesses, as well as an increase in consumer credit due to economic development and growth in loans. wages.
The volume of deposits increased by 7%. Growth has been observed for both individuals and corporate portfolios.
Credit quality
The net amount of repayments of loans previously made was 1 million euros. (This amount amounted to 3 million euros for the corresponding period of 2017.
Income and Expenses
Net interest income increased by 3% .This increase is mainly due to increased loan volumes.
Net fee income increased by 5%, mainly due to higher card and payment revenues, with higher customer activity.
Total expenses increased by 4%.
Business Development
In the third quarter, a specially adapted Internet Banking version was introduced in the three Baltic states, continuing the development of digital services [19659011] The first program of the financial technology accelerator in the Baltic countries, which has been accepted by Swedbank itself, has been successfully completed.10 financial technology companies have developed their business, have worked with 130 international mentors, including 50 from the Swedbank group. All the teams also received 20,000 euros to continue the development of their activity. Half of the members have launched their products during the program and some of them already have real customers. The second financial technology accelerator was unveiled in June and will begin operations in the autumn
As a song master scene, Swedbank covered 43,500 participants and financed the general liability insurance of the company. Party organizer. Swedbank has created a unique smartphone app, the DzieDot Vocal Game, which has been downloaded 40,000 times into users' phones for less than three months, and has allowed many of its users to participate in virtual festivities – up to 40 years. now not exuberant
As part of the implementation of social initiatives, the Ready-Ready School Program of Swedbank Latvia benefited in the second quarter of more than 10,000 high school students with hands-on practical seminars by Swedbank volunteers. The Bank's long-term contribution to responsible business practices received the Platinum level in the Sustainability Index. Swedbank is still the most reliable banking sector in the Baltic countries, in Latvia Swedbank has become the most attractive brand for the fourth year.
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