H1 2017 Operating Results of DNB Bank Group in Lithuania

During the first half of year 2017 the net profit of DNB Bank in Lithuania, as a part of the biggest financial services group of companies in Norway, reached EUR 21,6 million. This is 54 per cent more than at the same period in 2016 (EUR 14 million). This is an unaudited results, calculated in accordance with International Financial Reporting Standards.

‘The financial results of the first half of the year prove that successful first quarter wasn’t just a coincidence. All the changes we have implemented last year and keep implementing further on, have created stabile background, that ensures our agility and flexibility in order to meet our customers’ expectations’, says the President and Chairman of the Board of DNB Bank in Lithuania Bjørnar Lund.
 
By the end of June 2017 DNB Bank in Lithuania had granted EUR 2.8 billion of loans to private and business customers in Lithuania. This means that the net loan portfolio has remain the same. On the same time the deposit portfolio of DNB Bank in Lithuania grew by 10 per cent to EUR 2.5 billion, compared to EUR 2,3 billion in H1 2016.
 
Net interest income for DNB Bank in Lithuania in H1 2017 equalled EUR 33 million, compare to EUR 34 million in H1 2016. Income from service fees and commission increased from EUR 14 million in H1 2016 to EUR 16,4 million in H1 2017. Operating costs of DNB Bank in Lithuania reached EUR 33 million in H1 2017 -  it’s 3% less than in H1 2016 (EUR 34 million).
 
The bank is implementing all of the prudential requirements set out by the Bank of Lithuania while following proper risk management policy.
 
The H1 2017 financial results of Norwegian DNB financial service group can be found in www.dnb.no