OP Corporate Bank Reports Strong Half-Year Results in Latvia
Latvian Branch Posts EUR 4.3 Million Profit, Loan Portfolio Grows 12%
OP Corporate Bank plc has revealed a profitable first half of 2025 for its Latvian operations, signalling resilience in the local business landscape despite global economic headwinds.
Robust Financial Performance
The bank achieved a pre-tax profit of EUR 4.3 million in Latvia during the first six months of the year. Total income reached EUR 10.2 million, with operating costs managed at EUR 6.1 million.
Significant growth was observed in the loan portfolio, which expanded by 12% year-on-year to EUR 697 million by the close of June. Customer deposits concurrently stood at EUR 589 million.
Confidence in Latvian Market
“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,” stated Elmārs Prikšāns, General Manager of OP Corporate Bank plc’s Latvian branch.
“Our priority is to be a trusted partner for large and medium-sized companies looking for sustainable, modern solutions to support their growth.”
—Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian branch
New Reporting Standard
This year marks the first time OP Corporate Bank plc’s Latvian results have been published independently. Previously, financial figures for all Baltic states were consolidated into a single report.
Baltic Region Overview
Across the wider Baltic region, OP Corporate Bank plc’s loan and leasing portfolio reached EUR 3.1 billion in the first half of 2025. Deposits totaled EUR 1.6 billion.
The bank’s total income for the Baltic segment amounted to EUR 36 million. Operating costs in the region were EUR 19 million, leading to a pre-tax profit of EUR 19 million.
OP Corporate Bank plc is a subsidiary of OP Financial Group, recognized as Finland’s largest financial services provider. The full report detailing the operational results in Latvia for the first half of 2025 can be accessed via their official publications page.
This performance aligns with broader economic trends, as Latvia’s GDP grew by an estimated 3.5% in the first quarter of 2025, driven by strong performance in manufacturing and services sectors (MacroTrends, 2025).
