Banks, Covid-19, Crisis, Financial Services, Latvia

The bank has granted grace periods to 1,496 individuals and 182 corporate clients facing financial issues due to the Covid-19 pandemic. 

The bank has rescheduled more than 2,400 loan agreements, with the total balance of loans affected by the grace periods exceeding EUR 200 mln. 

In the personal loan segment, SEB Banka has rescheduled 1,794 loan agreements, including mortgage, study and student loans, as well as consumer loans and leasing agreements. The total value of these loan agreements is roughly EUR 60 mln. 

In the corporate loan segment, the bank has rescheduled 635 loan agreements worth around EUR 143 mln in total. In the segment of small and medium-sized enterprises, the bank has rescheduled leasing agreements and investment loans, overdrafts and working capital loans. In the segment of large enterprises, SEB Banka has rescheduled loans issued for investment projects and leasing agreements. 

"By now, clients' confidence in their long-term financial stability has increased again, because since April the share of new loan applications has grown larger than the share of grace period requests," SEB Bank board member Arnis Skapars noted. 

SEB Banka is the third largest bank in Latvia by assets.