The aim of the present article is to assess the Latvian commercial banks profitability using OLS evaluation method. In order to achieve the results of the present research, the qualitative overview of the scientific literature on Ordinary Least Squares (OLS) method has been performed. To gain the required data, the authors of the present article have analyzed the work of Latvian commercial banks and the branches/ agencies of the credit institutions registered in the member states of the European Economic Area (EEA) and their affiliations operating in Latvia in the reporting period of 2006-2012. The authors have concluded that 111, 114, 115 and 116 hypotheses have been completely proven: however, 112 and 113 hypotheses have been rejected as a result of the Pearson correlation since they demonstrated very weak correlation, as well as due to a correlation between bank indicators, which is also confirmed by the results of studies conducted by other scientists.