Corporate Bank reveals initial results for the first half of the year in Latvia
In the first half of 2025, OP Corporate Bank Plc, a part of the largest Finnish financial services provider, OP Financial Group, showcased a notable improvement in its financial performance. The bank's results in Latvia were published separately for the first time, with some key highlights standing out.
Elmārs Prikšāns, General Manager of OP Corporate Bank Plc's Latvian branch, expressed that the bank aims to provide sustainable, modern solutions to support company growth, positioning itself as a trusted partner for large and medium-sized companies.
The bank's total income in Latvia for the first half of 2025 was EUR 10.2 million, marking an 11% increase compared to the previous year. This growth was supported by a 13% rise in net interest income to EUR 2.86 billion and a stable investment income of EUR 72 million. However, net commissions and fees declined by 12% to EUR 33 million. Other operating income increased significantly by 63% to EUR 30 million.
The bank's operating costs in Latvia for the first half of 2025 were EUR 6.1 million, leading to an improved cost/income ratio of 35%, compared to 39% previously. This cost-effective approach allowed the bank to post profits of EUR 4.3 million before tax in Latvia for the first six months of 2025.
The loan portfolio in Latvia increased by 12% year-on-year to EUR 697 million by the end of June. Deposits in the bank's Latvian branch totalled EUR 589 million by the same date.
Prikšāns also highlighted that Latvia's business environment demonstrates resilience and adaptability, reflecting the bank's strong performance in the region.
On a broader scale, the Baltic segment of OP Corporate Bank Plc reported profits of EUR 19 million before tax for the first half of 2025, with deposits totalling EUR 1.6 billion. The bank's loan and leasing portfolio in the Baltics reached EUR 3.1 billion in the first six months of 2025. Total income of the Baltic segment grew to EUR 36 million in the same period.
The full financial report on operational results in Latvia in the first half of 2025 is available for review.
[1] OP Corporate Bank Plc's financial performance in the first half of 2025. (Link omitted for brevity) [3] Financial results of OP Financial Group. (Link omitted for brevity)
- In the first half of 2025, the EU's finance sector, specifically OP Corporate Bank Plc, a part of the largest Finnish financial services provider, OP Financial Group, showcased an improvement in its financial performance, particularly in the bank's Latvian branch.
- The EU's industry sector, specifically large and medium-sized businesses in Latvia, may find sustainable, modern solutions and a trusted partner in OP Corporate Bank Plc, given the bank's growth in net interest income, improved cost/income ratio, and increased profits in the first half of 2025.
