The borrowing habits of the Latvian population are most often driven by specific practical needs – financing vehicles, housing, or other larger purchases – rather than by marketing influence. 78% of the population acknowledge that advertising plays virtually no role in their choice of loan or lender, according to a survey conducted by AS “West Kredit” in cooperation with SKDS.

Residents indicate that they most frequently borrow for larger purchases and investments, such as transport, housing, repairs, and durable goods. Loans taken over the past year were most commonly used for car purchases (29%) and buying household appliances or furniture (24%). A significant portion of funding was also allocated to real estate acquisition and construction (19%), as well as home renovations or improvements (17%), according to the survey. 10% of respondents needed a loan to cover healthcare costs, while 9.4% used them for unforeseen or emergency expenses.

At the same time, residents note that advertising plays a relatively small role in the choice of a loan or a specific credit institution. 65% of those surveyed stated that advertising had no role in their decision, while a further 13% described its influence as rather small. Meanwhile, only 8.1% of respondents identified the importance of advertising as large or very large, which suggests that advertising in itself is not the deciding factor influencing people's borrowing choices.

“The survey on public financial habits shows that borrowing is not a spontaneous impulse triggered by advertising, which is a particularly significant conclusion at a time when credit advertising regulations in Latvia have changed. People associate taking a loan with a specific need – from buying a car or a home to covering health expenses – so it is essential to choose the appropriate type of financing, evaluating which loan, term, total cost, and collateral are reasonable for that specific venture. In this context, advertising can help raise awareness of options and encourage people to evaluate and compare in order to make a well-considered decision to finance their needs,” notes Artūrs Silantjevs, Member of the Board at AS “West Kredit”.

The population's plans for the coming year also reflect a thoughtful and, in a sense, cautious attitude towards taking on new obligations. A portion, or 11% of respondents, rate the possibility of taking out a new loan as large or rather large, while 43% rate it as small or very small, and 25% indicate that they do not plan to borrow at all.

The survey was conducted by the market and public opinion research company SIA “SKDS” on behalf of AS “West Kredit” between 10 and 12 August 2026, surveying 1,005 Latvian residents aged 18 to 75.