Banks, Financial Services, Latvia, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 20.09.2018, 21:53

Lithuanian branch of Citadele posts H1 net profit up to 1.6 mln euros

BC, Vilniaus, 05.09.2018.Print version
Latvian-owned Lithuanian bank Citadele posted a net profit of 1.6 mln euros for the first half of 2018, up 63.3% from 980,000 euros in the same period last year, informs LETA/BNS.

"Our main performance indicators consistently improved over the first six months of 2018 and the growth in profits was positively impacted by increased lending to households," Jurate Jazukeviciene, chairwoman of the board and head of administration at Citadele Lithuania, said in a press release.


Citadele's overall loan portfolio stood at 265.1 mln euros in late June, a rise of 8.2% from a year ago. Loans to business customers increased by 11.7% to 168.3 mln euros. The bank provided 8.9 mln euros' worth of consumer loans during the six months, up 59% year-on-year.


Deposits totaled 394 mln euros at the end of June, down by 3% compared with the start of the year. The bank's net commission and interest income this year rose by 15% to 8.2 mln euros.


The Citadele Group is based in Latvia and has subsidiaries and branches in Latvia, Lithuania, Estonia and Switzerland.

 






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