Loan portfolio of OP Corporate Bank plc in Latvia grows by 7.5% year-on-year
OP Corporate Bank plc has announced its financial results for the first three quarters of 2025 in Latvia. The bank’s loan portfolio increased by 7.5% year-on-year to EUR 704 million by the end of September, while deposits amounted to EUR 309 million.
Loan portfolio of OP Corporate Bank plc in Latvia reached EUR 704 million at the end of September 2025 – 7.5% more than at the same time last year. As businesses are increasingly focusing on sustainability issues, the volume of green financing has also increased over the year. Meanwhile, the deposit volume was EUR 309 million at the end of the third quarter.
OP Corporate Bank plc’s profit in Latvia for the first nine months of the year was EUR 6.5 million before tax, while its total income reached EUR 15.5 million. The bank’s operating costs in Latvia during the first three quarters were EUR 9 million.
“Positive trends can be observed in Latvia’s business environment – although this year has brought many uncertainties, Latvian entrepreneurs have managed to adapt to the situation and continue investing in their development. This is evidenced by the growing volume of corporate investments and bank financing provided to companies, including our loan portfolio in Latvia, which was 7.5% higher at the end of September than at the same time last year. We are pleased to be able to strengthen Latvia’s economy by financing sustainable and strategic investments by Latvian companies,” says Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian branch.
In the remaining months of this year, the bank will continue to work on the growth of its loan portfolio and invest in employees' professional development and technological innovation, with special attention to integrating artificial intelligence into daily operations. The bank also plans to improve its products and services, making them even more tailored to client needs.
“This year, we conducted an extensive survey to gain deeper insights into our customers’ needs, expectations, and cooperation experiences. We are delighted with our customers’ high evaluation, and to maintain this trust and offer even better solutions, we plan to continue improving our products and services this year and next,” added E. 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 Pohjola*
The loan and leasing portfolio of OP Corporate Bank plc in the Baltics increased by 24.6% year-on-year, reaching EUR 3.3 billion at the end of September. Total deposits amounted EUR 1.4 billion. Total income of the Baltic segment grew to EUR 55 million, the bank’s operating costs in the Baltics amounted to EUR 28 million, while profit before tax remained at EUR 29 million.
OP Corporate Bank plc is part of OP Pohjola (formerly OP Financial Group) – the largest financial services group in Finland, operating in Finland and the Baltic states. OP Pohjola maintains strong liquidity and funding capacity and has a Common Equity Tier 1 (CET1) ratio of 21%, which is 6.7 percentage points above the minimum requirement. In the first nine months of 2025, the Group’s profit before taxes were EUR 1.715 billion, and total income was EUR 3.393 billion.
The full OP Corporate Bank plc financial report on operational results in Latvia in the first nine months of 2025 is available here.
The full OP Pohjola financial report for the first nine months of 2025 is available here.
* As of 28 October, OP Financial Group changes its name to OP Pohjola. In the Baltics, OP will continue to operate under the existing OP Corporate Bank brand, and the name OP Corporate Bank plc Latvian branch will remain unchanged.