Since 2015, different lending within the Baltic area has continued to succeed in new heights, with Latvia enjoying an important function on this progress.5
Latvia’s different lenders have harnessed expertise to make quicker and extra correct lending assessments, making finance extra accessible for everybody. In the course of the preliminary phases of the Covid-19 pandemic, the sector skilled a decline in lending volumes. Nevertheless it rapidly recovered in 2021.
Final 12 months, over 920 000 non-bank loans have been issued, equaling virtually €580 million (a 16% improve in worth in comparison with 2020).6 In the identical 12 months, a report €57.7 million of loans have been issued in a single month – the very best ever one-month lending quantity noticed for the reason that monitoring of non-bank lending knowledge began in 2013.6 All of which signaling that different lending exercise in Latvia has undoubtedly returned to pre-Covid-19 ranges.6
As well as, the portfolios of other lenders are the strongest they’ve been since 2013. On the finish of 2021, lenders managed a complete credit score portfolio of round €832 million (up 10%+ in comparison with 2020).6 Plus, the steadiness of the lender’s portfolios is growing, with virtually 92% of loans being repaid directly (as of 31 Dec 2021).6
