Latvian Banking Provisions Grew in January, Regulator Says

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 mseputyte@bloomberg.net; 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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