The profit of the largest Baltic banks is approaching one billion euros; it is helped by rising rates

The profits of the largest Baltic banks have grown rapidly in the past year, and unlike other sectors, the decisions made by the European Central Bank (ECB) to raise rates and the impact of the ongoing war in Ukraine have helped them to increase their income.

The total profit of the three Scandinavian banks in the Baltic region grew by several tens of percent and reached almost one billion euros, and forecasts show that, most likely, further growth can be expected this year.

The central banks of all three Baltic states are currently paying increased attention to these indicators.