Šiaulių Bankas‘net profit of the first half of the year is LTL 2.511 million


AB Šiaulių Bankas‘ unaudited net profit for the first half of 2004 is LTL 2.511 million

The first six months of this year have been successful for the Bank. Almost all main activity indicators exceeded the plan.

The Bank earned in net profits 36% more than planned (planned LTL 1.837 million).
The Bank‘s assets, having increased by 11.6% during the first half of the year, have reached LTL 638.8 million (planned LTL 634.7 million). The net value of the loan portfolio was growing especially rapidly – during the first six months it increased by 27.3% up to LTL 397.4 million (planned growth of 18.9% up to LTL 371.1 million). Deposits and letters of credit increased by 10.7% up to LTL 442 million. Deposits of private individuals increased by 12%.

During 2004, the Bank is going to earn LTL 6.5 million in net profits, 1.5 times more than in the previous year.

During the first six months of this year the Bank opened 4 new Client Service Centres in Druskininkai, Plungė, Anykščiai and Kaunas. At present the network of the Bank territorial subdivisions consists of 41 branches and Client Service Centres. A new Client Service Centre is about to be opened in Visaginas.