OP Corporate Bank’s loan portfolio in Latvia grows by 10.7%, deposits increase 2.5-fold year on year

The bank’s total income in Latvia in the first nine months reached EUR 16.7 million, an increase of 8.7% compared with the corresponding period last year. Net interest income increased by 8.3% to EUR 13.9 million, while net fee and commission income increased by 10.6% to EUR 2.6 million.

“The results for the first nine months of this year demonstrate that we continue to consistently implement our growth strategy. The growing loan portfolio reflects companies’ demand for financing, while the increase in deposits has been driven by both more active cooperation with existing customers and the acquisition of new customers. Our strong financing capacity enables us to support the investment and development plans of Latvian companies while at the same time building broader cooperation with our customers,” says Elmārs Prikšāns, General Manager of OP Corporate Bank Latvia branch.

In the first nine months of 2026, OP Corporate Bank’s profit before tax in Latvia was EUR 5.3 million, while total expenses amounted to EUR 11 million. The bank continues to invest in the development of digital services.

OP Corporate Bank plc results in the Baltics

In the first three quarters, OP Corporate Bank plc’s loan portfolio in the Baltics grew by 1% and reached EUR 3.3 billion at the end of September, while deposits increased to EUR 1.9 billion, up 28% year on year.

The bank’s total income in the Baltics was EUR 59.9 million, while operating expenses amounted to EUR 31.7 million. OP Corporate Bank’s Baltic segment recorded a profit before tax of EUR 17.1 million.

In October, OP Corporate Bank appointed Antti Mettiainen as Acting Head of Baltic Banking. The previous Head of Baltic Banking, Matias Huhtala, is stepping down after 12 years in the role.

OP Pohjola financial figures

OP Corporate Bank plc is part of OP Pohjola, Finland’s largest financial services group, operating in Finland and the Baltic countries.

In the first nine months of 2026, the Group’s loan portfolio reached EUR 103.2 billion, an increase of 3% compared with the corresponding period last year. Deposits also increased by 2.8% to EUR 82.0 billion.

In the first nine months of this year, the Group’s profit before tax was EUR 1.396 billion. The Group’s total income reached EUR 3.262 billion, while operating expenses amounted to EUR 1.829 billion.

OP Pohjola maintains strong liquidity and funding capacity, and its Common Equity Tier 1 (CET1) ratio stands at 21.4%, which is 7.2 percentage points above the minimum requirement.

The full OP Corporate Bank plc financial report for the first nine months of 2026 is available here‍.

The full OP Pohjola financial report for the first nine months of 2026 is available here.

About OP Corporate Bank plc’s Latvian branch

OP Corporate Bank plc is the central bank of OP Pohjola, Finland’s largest financial services provider. It began operations in Latvia in 2012 and is currently one of the leading banks in Latvia by the volume of loans issued to medium and large enterprises. OP Corporate Bank plc Latvia Branch provides financial services to leading companies in Latvia and plays a significant role in the long-term development of the country and the wider region.