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VILNIUS. AB DnB NORD Bankas, a member of dynamic and reliable DnB NORD banking family, earned an un-audited net profit of LTL 24.2 million (EUR 7.01 million) in the first three months of the year. The financial result, calculated in accordance to International financial accounting standards, was 46.4 percent higher compared to the corresponding period of last year when the bank’s net profit was LTL 16.5 million.
According to the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli, the bank’s best quarterly result ever so far was achieved largely due to growing consumer and mortgage loan portfolio, increasing corporate lending, successful investment banking performance and lower than planned for the period operating expenses.
“The strong start indicates that we are heading into another year of solid growth. Focus on service quality and flexible response to customer needs let us to offset traditional business activity slowdown at the start of the year while rational allocation of resources helped to keep expenses in check. We are satisfied with the growth trend of our business and particularly pleased with the quality of our loan portfolio,” said the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli.
According to preliminary data AB DnB NORD Bankas assets rose 38.5 percent, year on year, to LTL 7.84 billion as at the end of March, the growth largely attributed to loan portfolio expansion.
AB DnB NORD Bankas loan portfolio had risen by 46.5 percent year on year to LTL 6.29 billion as at the end of the first quarter 2007. The growth resulted from increased lending both to individual customers by 60.9 percent to LTL 2.79 billion and corporate customers by 5.8 percent to LTL 3.5 billion, year-on-year.
Customer savings and investment at AB DnB NORD Bankas rose 33,6 percent year-on-year to LTL 3.87 billion as at the end of March. The deposit portfolio rose 23.1 percent year-on-year to LTL 3.35 billion as at the end of March. In the first three months of the year alone AB DnB NORD Bankas has successfully placed nine bond issues to various investors worth LTL 86.4 million at par, the bulk of it index linked notes.
To finance further balanced growth AB DnB NORD Bankas fully placed its new share issue with nominal value of LTL 51.96 million raising LTL 164.9 million of shareholders’ funds through the transaction. The bank’s authorized share capital has yet to be registered with the relevant authorities. Due to proper risk management policy the Bank met all prudential requirements of the Bank of Lithuania.
AB DnB NORD Bankas is a member of dynamic and reliable DnB NORD banking group registered in Denmark that was established by Norway’s largest bank DnB NOR and North Germany’s largest bank NORD/LB. DnB NORD banking group had focused the activities of both founders in the Baltic region by offering the whole range of modern and top quality financial services in Denmark, Finland, Estonia, Latvia, Lithuania, and Poland.
According to the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli, the bank’s best quarterly result ever so far was achieved largely due to growing consumer and mortgage loan portfolio, increasing corporate lending, successful investment banking performance and lower than planned for the period operating expenses.
“The strong start indicates that we are heading into another year of solid growth. Focus on service quality and flexible response to customer needs let us to offset traditional business activity slowdown at the start of the year while rational allocation of resources helped to keep expenses in check. We are satisfied with the growth trend of our business and particularly pleased with the quality of our loan portfolio,” said the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli.
According to preliminary data AB DnB NORD Bankas assets rose 38.5 percent, year on year, to LTL 7.84 billion as at the end of March, the growth largely attributed to loan portfolio expansion.
AB DnB NORD Bankas loan portfolio had risen by 46.5 percent year on year to LTL 6.29 billion as at the end of the first quarter 2007. The growth resulted from increased lending both to individual customers by 60.9 percent to LTL 2.79 billion and corporate customers by 5.8 percent to LTL 3.5 billion, year-on-year.
Customer savings and investment at AB DnB NORD Bankas rose 33,6 percent year-on-year to LTL 3.87 billion as at the end of March. The deposit portfolio rose 23.1 percent year-on-year to LTL 3.35 billion as at the end of March. In the first three months of the year alone AB DnB NORD Bankas has successfully placed nine bond issues to various investors worth LTL 86.4 million at par, the bulk of it index linked notes.
To finance further balanced growth AB DnB NORD Bankas fully placed its new share issue with nominal value of LTL 51.96 million raising LTL 164.9 million of shareholders’ funds through the transaction. The bank’s authorized share capital has yet to be registered with the relevant authorities. Due to proper risk management policy the Bank met all prudential requirements of the Bank of Lithuania.
AB DnB NORD Bankas is a member of dynamic and reliable DnB NORD banking group registered in Denmark that was established by Norway’s largest bank DnB NOR and North Germany’s largest bank NORD/LB. DnB NORD banking group had focused the activities of both founders in the Baltic region by offering the whole range of modern and top quality financial services in Denmark, Finland, Estonia, Latvia, Lithuania, and Poland.