Bearing in mind the state of emergency in Latvia, as well as in response to the request by the Financial and Capital Market Commission (FCMC) and the recommendations of the European Banking Federation and the European Central Bank, certain Latvian banks—members and associate members of the Finance Latvia Association who made a profit last year—have made the decision not to pay dividends from their 2019 results.

According to information available to the Finance Latvia Association, 10 of its members—Swedbank, SEB banka, Luminor, Citadele, LPB Bank, Signet Bank, BlueOrange Bank, OP Financial Group, Reģionālā Investīciju Banka and Rigensis Bank—and one associate member, Inbank, have made the decision not to divide their profits and pay out dividends, and are thus prepared to offer greater support to their clients and the economy in general.

The total approximate sum which will not be distributed by the aforementioned banks is 315.78 million EUR, which includes the OP Financial Group’s total payable 2019 financial year profit share interest.