RIGA, Dec. 29 (Xinhua) -- The Latvian banking sector reported 301.1 million euros (367 million U.S. dollars) in aggregate profit for the first 11 months of 2014, registering a year-on-year increase of 14.8 percent, the Latvian banking regulator said.
In November 2014, the Latvian banks generated 26.09 million euros in aggregate profit.
The Finance and Capital Market Commission's spokeswoman Elina Avotina told Baltic News Service that 13 Latvian banks and three Latvian branches of foreign banks operated with profit in November. Their aggregate share in the banking sector's assets was 82.6 percent.
The banking sector's aggregate assets grew 2.6 percent from the end of last year to 29.95 billion euros at the end of November 2014.
Bank deposits in Latvia grew 9.5 percent from the end of 2013 to 21.37 billion euros in late November 2014.
Resident deposits rose by 62.4 million euros on account of growing financial, corporate and household deposits, while deposits made by the government and government institutions declined. Nonresident deposits increased by 257.7 million euros in November, the regulator's spokeswoman said.
The Latvian banks' aggregate loan portfolio contracted 4.4 percent from the end of last year to 14.92 billion euros at the end of November.
