Šiaulių bankas activity result for 9 months of 2010


Whereas the economic situation is stabilizing, positive tendencies of increase in operating result were continued to be observed by Šiaulių bankas during the third quarter.

Within the nine months the operating profit before tax, dividend from subsidiaries and provisions comprised LTL 11,6 million or it was by 70 per cent bigger comparing to the relevant period of 2009.

Final result of the Bank was determined by special provisions being formed. During this year special provisions in the amount of LTL 36,2 million were formed. The result of Šiaulių bankas of three quarters is LTL 20,7 million in loss. The whole Bank Group incured loss of LTL 23 million.

Atmosphere of uncertainty due  to which residents and corporate clients postponed their decisions regarding the investments and expenses is gradually easing. Strong capital base allows Šiaulių bankas the positive behavior in resurgent loan market, lending credits from local resources and also using external European Union structural funding support.

The loan portfolio (without evaluation of special provisions, tax and accrued interest) reached LTL 1,6 billion over the third quarter of this year, while within nine months of 2010 it increased by 2.9 per cent. Client deposit portfolio comprised more than LTL 1,6 billion, i.e. it increased by 6.2 per cent from the beginning of the year.

Capital adequacy ratio of Šiaulių bankas was 13.28 per cent during the third quarter of this year, while the liquidity - 43.68 per cent.