Best bank: SEB Banka
Despite the Latvian economy dipping into recession last year, the banking sector delivered impressive bottom-line growth, with total profits almost doubling year on year to €622 million.
Leading the sector with record results was SEB Banka, Latvia’s best bank.
To the end of December 2023, the bank, led by Ieva Tetere, president and chair of the management board, reported a 100% year-on-year rise in profit before credit losses and imposed levies of €186 million, supported by operating income of €249 million, up 64% from 2022.
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