The largest financial group in the Nordic and Baltic region Nordea earned in Lithuania during 2013 an unaudited net profit of LTL 39.5 million before corporate taxes which is 2 percent more than in 2012.
Nordea’s total deposit portfolio increased by 27.2 percent last year amounting to LTL 3.5 billion in total at the end of 2013. The deposit growth was driven by a 25 percent rise in the volumes of household deposits whereas the total of corporate deposits went up by 27.9 percent in a year.
Last year Nordea saw growing numbers of Internet and mobile bank users. During 2013 the use of mobile banking and the total number of connections increased by 3.5 times and 7 times respectively. Over the last year, 70 percent of all transactions were carried out using Internet or mobile banking.
“Customer focus remains priority number one. While pursuing relationship banking, we seek not only to be our customers’ best partner, but also exploit the latest channels for daily banking,” says Inga Skisaker, the Head of Banking Baltic Countries.
Uncertainty about the stability of Eurozone last year entailed a lower demand for loans. According to Ms. Skisaker, a similar tendency prevailed in all Baltic countries; however, in the second half of 2013 a slightly increased interest in loans could be observed both with businesses and household.
Nordea’s loan portfolio decreased by 3.4 percent last year and accounted for LTL 7.2 billion. The volume of corporate loans and household loans dropped by 2.8 and 4.2 percent respectively. The bank’s mortgage loan portfolio shrank by 3.2 percent.
“Recently low interest rates have had an impact on people’s financial habits, especially in terms of saving; therefore, we are going to offer improved saving and investment instruments for the residents of the Baltic countries, who are still inclined to save,” promised Ms. Skisaker.
Nordea financial services group is among the few European banks which have retained a high AA- credit rating from the leading agencies such as Moody’s and S&P. Global Finance international business and finance magazine ranked Nordea as the best bank in Lithuania in 2013.
The report is based on management accounting data.
Making banking delightfully easy