RIGA - Revenue from currency exchange transactions made up 8.6 percent of Latvian banks’ basic activity revenue, meaning that this is not the main source of revenue for the banks, reports Nozare.lv. Thus, the transition to the euro should not substantially impact the profitability of banks, the head of the Financial and Capital Market Commission’s (FCMC) Supervisory Department Jelena Lebedeva said to members of the press on Sept. 27.Last year, banks operating in Latvia posted 79 million lats (112.8 million euros) in revenue from currency exchange transactions, but in the...
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