DNB Lithuania’s, part of Norway's largest financial services group, profit after taxes in the first nine months of 2015 came at EUR 20.6 million compared to EUR 15.8 million in the same period the year before. The results are unaudited and calculated in accordance with the International Financial Reporting Standards.
As of the end of September DNB Lithuania had extended credits to individual and corporate customers worth EUR 2.9 billion, i.e. its net loan portfolio rose 4.1 percent year-on-year. The rise was determined by increasing financing volumes to both legal entities and household customers that rose respectively 1.4 and 6.6 percent year-on-year.
"In the beginning of 2016 we have changed our customer service model in order to adapt to the changes in banking sector. We have created clear client-orientated structure. It helped us to implement necessary changes and innovations in client service area: development of cashless branches, card sending via mail, etc. Few months ago we have moved to the new premises and we used this chance to review and to update many of our internal processes. All these changes helped us to operate more efficient and to improve our results”, said Bjornar Lund, the president and the chairman of the management board of AB DNB Bankas.
The deposit portfolio of DNB Lithuania rose 7 percent year-on-year to EUR 2.4 billion. DNB Lithuania income increased by 11.2 percent to EUR 88 million. The net interest income of DNB Lithuania increased by 8.8 percent to EUR 51.4 million in the first nine months of the year.
Bank’s group operating and other expenses made EUR 50.1 million in the first nine months of 2016. Due to consistent focus on operating efficiency, active development of cashless network and digital solutions they were 5 percent lower compared to the corresponding period a year ago.
The Group’s assets increased 4.7 percent year-on-year and as of the end of September amounted to EUR 4.1 billion.
Due to proper risk management the bank met all prudential requirements of the Bank of Lithuania.
Norway’s DNB financial group's operating results for the first nine months of 2016 are available on www.dnb.no.
