Eight-month net profit has reached LTL 6,465 million


Šiaulių Bankas successfully implements set annual plans

Šiaulių Bankas successfully implements set annual plans. This year eight-month activity results already exceed major activity indicators planned for nine month.

In 2005, not audited eight-month net profit has reached LTL 6,465 million, i.e. twice as much as it was at the same time last year. (Planned profit for nine month this year was LTL 6, 245 million).

Bank’s assets have increased by 29,4 per cent within eight-month period and reached LTL 911,6 million. (It was planned to possess assets for LTL 841 million in 9 month  this year). Net value of the loan portfolio has grown rapidly, it has increased by 35,3 per cent up to LTL 562,3 million within eight month.(Planned net value loan portfolio was LTL 532,1 million for nine-month period). Deposits and letters of credit have increased in their number as well. The amount was enlarged by 35,5 per cent and totaled in LTL 700,8 million. (Planned amount of deposits and letters of credit was LTL  642 million for nine-month period).

Equity capital was multiplied by more than one and a half time, i.e. up to LTL 88,6 million.

In 2005, the Bank is planning to earn LTL 7,8 million in net profit, i.e. by 20 per cent more than last year.