BigBank recorded profits of 44.8 million kroons (2.8 million euros) for the second quarter, an 11 percent increase over the previous year's same period results, reports news agency LETA. Interest rate income reached 151.3 million kroons, down 15.5 percent in comparison to the same period last year. This was attributed to a decrease in the loan portfolio volume. Revenue from claims processing totaled 26.5 million kroons for the second quarter. The bank says that the overall number of loans more than 90 days overdue fell in the second quarter. Late loan payments in Estonia have now fallen for two consecutive quarters compared to the previous quarters. The company's problem loans in Latvia for the second quarter stayed at the same level as during the first quarter. In Lithuania, the rate of increase in problem loans has slowed by half compared to the first quarter.
Oil transport company Ventspils Nafta Group announced consolidated non-audited net turnover in this year's first half of 39 million lats (55.7 million euros), with net profit of 900,000 lats, reports news agency LETA. "The results… show that business for all VN companies is stable and in line with the planned budget; management's focus is on investment in the core transit business segment," says Chairperson of the Management Board Olga Petersone. Its subsidiary, Ventspils nafta terminals Ltd., has shipped more than 6.4 million tons of crude oil and petroleum products in the period. The company continues to strengthen and modernize its operations in crude oil and petroleum product transshipment, running its operations the same way as it operates its other terminals around the world, reports Vitol Group, co-owner of the subsidiary.
