Loan portfolio of OP Corporate Bank plc in Latvia grows by 12% year-on-year
OP Corporate Bank plc has announced its financial results for the first half of 2025 in Latvia. The bank’s loan portfolio increased by 12% year-on-year to EUR 697 million by the end of June, while deposits amounted to EUR 589 million.
Loan portfolio of OP Corporate Bank plc in Latvia reached EUR 697 million at the end of June 2025, making an increase of 12% compared to the first six months of 2024. As businesses increasingly more are focusing on sustainability matters, the volume of green financing has also increased over the year. Meanwhile, the deposit volume was EUR 589 million at the end of the first half of 2025.
OP Corporate Bank plc’s profit in Latvia for the first six months of the year was EUR 4.3 million before tax, while its total income reached EUR 10.2 million. The bank’s operating costs in Latvia stood at EUR 6.1 million in the first half of 2025.
“Latvia’s business environment continues to demonstrate resilience and adaptability. Despite prolonged geopolitical uncertainty and tensions in global trend, we are seeing purposeful and prudent growth in both the private and public sectors. The market is evolving, and we are evolving with it, expanding our loan portfolio and strengthening the Latvian economy through sustainable and strategic investments. The 12% growth in our credit portfolio over the past year reflects the strong ambition of entrepreneurs to develop and grow,” says Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian branch.
He points out that in the coming months, the bank will continue to work on increasing its loan portfolio. The bank is also planning to improve its products and continue investing in professional development of its employees and technological innovation.
“Our priority is to be a trusted partner for large and medium-sized companies looking for sustainable, modern solutions to support their growth. We will continue to develop not only financing solutions, but also to work on expanding the range of our services. At the same time, we will continue to invest in employees’ competences and technology to achieve higher service quality and efficiency," explains Elmārs Prikšāns.
By updating OP Financial Group’s performance reporting, this year, for the first time, the results of OP Corporate Bank plc in Latvia are published separately. Previously, the figures for all the Baltic states were published together.
Financial data of OP Corporate Bank plc in the Baltics and OP Financial Group
In the first six months of 2025, OP Corporate Bank plc’s loan and leasing portfolio in the Baltics reached EUR 3.1 billion, while deposits totalled EUR 1.6 billion. Total income of the Baltic segment grew to EUR 36 million, the bank’s operating costs in the Baltics amounted to EUR 19 million, while profit before tax remained at EUR 19 million.
OP Corporate Bank plc is part of OP Financial Group, the largest Finnish financial services provider operating in Finland and the Baltic states. OP Financial Group maintains strong liquidity and funding capacity and has a Common Equity Tier 1 (CET1) ratio of 20.8%, which is 6.1 percentage points above the minimum requirement. In the first half of 2025, the Group’s profit before taxes was EUR 990 million, while the Group’s consolidated revenue was EUR 2.139 billion.
The full OP Corporate Bank plc financial report on operational results in Latvia in the first half of 2025 is available here.
The full H1 2025 financial report of OP Financial Group is available here.