Banks, Good for Business, Lithuania
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Saturday, 20.04.2024, 06:16
Lithuania's SEB Bankas Group boosts H1 net profits to EUR 51.6 mln
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SEB Bankas alone
raised its net profit by 21% year-on-year to 50.5 mln euros.
The bank issued 1.157 bln euros in new loans to private individuals and
corporate customers during the first half, up from 1.116 mln euros a year
earlier.
"Lithuania's economic development in the first half of the year was
more robust than that of the European Union. It was determined by the balanced
economic growth based on rising exports and local demand. A rapid increase
in average wages and shrinking unemployment has strengthened the household
purchasing power and improved expectations," SEB Bankas Chairman and CEO Raimondas Kvedaras said in a
press release.
SEB Bankas said that
the group's assets decreased by 3% over the past 12 months to 7.4 bln euros in
late June, attributing the decline to the repayment of a part of its debt
to Sweden's Skandinaviska Enskilda
Banken, the parent company.
The net loan and leasing portfolio grew by 12% over the year to 6.2 bln
euros and the deposit portfolio increased by 10% to 5.6 bln euros.
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