Banks, Financial Services, Good for Business, Lithuania
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 21:56
Lithuanian banks' profits up 8.5% to 91 mln
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Eleven banks and foreign bank branches operated profitably
and three banking sector participants incurred losses. Banks' key activity –
lending – generated the major part of their net income.
Net interest income remained the key source of banks'
income, growing by 5.7% y-o-y to 117 mln euros.
Net service and commission income increased 4.4% to 55.6 mln
euros, while administrative expenses went up by 3.9% to 80.6 mln euros.
The banking system's assets totaled 28.207 bn euros at the
end of the first quarter, up 8.1%, or 2.1 bn euros, from a year earlier, and
down 1.4% from the end of the previous quarter.
The combined loan portfolio (including leasing), which makes
up the bulk of the assets, almost unchanged over a quarter but rose 5.5% to
19.891 bn euros.
The share of bad loans inched down 0.25 percentage points to
2.19% of the total loan portfolio.
Private individuals' deposits rose 0.9% over a quarter to
22.473 bn euros.
All banks complied with the regulatory capital and liquidity
requirements at the end of the first quarter.
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