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Latvian Banking Provisions Grew in January, Regulator Says

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March 1 (Bloomberg) -- 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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