The most profitable banks in Latvia

Swedbank headquarters in Riga, Latvia (Kārlis Dambrāns, CC BY)

In Hungary internet services revenues reached EUR638m

Prague to build hundreds of council houses

Latvia

The most profitable banks operating in Latvia in 2016 were: Swedbank, Rietumu Banka and ABLV Bank. The Baltic Course reports on the data presented by the Association of Latvian Commercial Banks. According to the data, the Latvian banking sector posted profit of EUR453.754m in 2016 (up 9.1 per cent y/y). The most profitable was Swedbank with EUR92.9m, the second best was Rietumu Banka with EUR86.356m and the third was ABLV Bank with EUR79.337m in profit.

As the Baltic Course informs, all other banks posted profits of EUR11m.

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Hungary

Budapest Business Journal reports on Hungarian companies’ net revenues from internet services. They grew 9 per cent y/y in 2016, reaching HUF197bn (EUR638m).

According to the data from the Central Statistics Office (KSH) the number of internet subscribers in the country reached 8.8 million in Q4’16 (up 8.8 per cent y/y). BBJ points out that “mobile subscribers accounted for 68 per cent of the total”.

Internet downloads reached 1.6 million terabytes (up 29 per cent). The data shows downloads over fixed line were up 12 per cent and mobile downloads were up 38 per cent.

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Czech Republic

Radio Praha writes about Prague City Hall’s plans to launch a special social housing project. During the last 15 years the city has sold most of its housing stock and now wants to build hundreds of new council houses. First units are to be ready in 2 years. 180 apartments will be built at Cerny Most.

The Radio quotes Petra Kolinska, Deputy Mayor of Prague, saying: “The city is currently selecting locations where new apartments could be built in the future. We are also working on the concept of a housing policy which is based on the city’s strategic plan.” 

The housing project will cost some CZK500m (EUR18.5m) and it will be financed from the State Fund for Housing Development.

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What’s up in indexes

BET (of Bucharest) decreased from 7,974.03 index points Friday, March 17th to 7,952.69 index points Monday, March 20th. It was down 0.27 per cent d/d and up 17.04 per cent y/y.

BUX (of Budapest) decreased from 32,778.00 index points Friday, March 17th to 32,358.00 index points Monday, March 20th. It was down 1.28 per cent d/d and up 25.26 per cent y/y.

CROBEX (of Zagreb) decreased from 2,177.24 index points Friday, March 17th to 2,154.34 index points Monday, March 20th. It was down 1.05 per cent d/d and up 35.53 per cent y/y.

OMXR (of Riga) decreased from 777.19 index points Friday, March 17th to 771.97 index points Monday, March 20th. It was down 0.67 per cent d/d and up 24.43 per cent y/y.

OMXT (of Tallinn) increased from 1,123.14 index points Friday, March 17th to 1,123.46 index points Monday, March 20th. It was up 0.03 per cent d/d and up 16.62 per cent y/y.

OMXV (of Vilnius) decreased from 562.63 index points Friday, March 17th to 561.82 index points Monday, March 20th. It was down 0.13 per cent d/d and up 11.63 per cent y/y.

PX (of Prague) decreased from 980.79 index points Friday, March 17th to 979.81 index points Monday, March 20th. It was down 0.10 per cent d/d and up 7.86 per cent y/y.

SAX (of Bratislava) decreased from 303.67 index points Friday, March 17th to 301.83 index points Monday, March 20th. It was down 0.61 per cent d/d and down 6.68 per cent y/y.

SOFIX (of Sofia) increased from 634.98 index points Friday, March 17th to 636.59 index points Monday, March 20th. It was up 0.25 per cent d/d and up 42.34 per cent y/y.

UX (of Kyiv) increased from 935.34 index points Friday, March 17th to 937.79 index points Monday, March 20th. It was 0.26 per cent d/d and up 51.89 per cent y/y.

WIG20 (of Warsaw) decreased from 2,296.97 index points Friday, March 17th to 2,281.45 index points Monday, March 20th. It was down 0.68 per cent d/d and up 16.84 per cent y/y.

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