Nordea Bank Lietuva, a Lithuanian branch of Nordea, the largest financial services group in the Nordic and the Baltic Sea region, earned LTL 13.9 million of unaudited net profit in the first quarter of this year, a 29.7 percent rise from the same period a year ago. The assets of the bank in the first quarter of this year increased by 5.3 percent, compared to the same period in 2012, and at the end of the quarter amounted to LTL 9.3 billion.
The bank’s total loan portfolio, comparing to the first quarter of last year, remained nearly unchanged and accounted for LTL 7.5 billion (a 1 percent decrease was registered). The activity of the corporate loan market still remains rather low thus far, therefore, the legal persons’ loan portfolio at Nordea bank rose only by 1.3 percent in the first quarter of 2013, compared to the same quarter a year ago, and totaled LTL 4.5 billion. Natural persons’ loan portfolio decreased by 4.4 percent and amounted to LTL 2.9 billion, of which LTL 2.5 billion were housing loans.
In the first quarter of this year, comparing to the same quarter in 2012, the total deposit portfolio grew by 13.4 percent amounting to LTL 2.7 billion in total at the end of the quarter. The total deposit growth was driven by a 27 percent increase in the portfolio of deposits of natural persons, which at the end of the quarter totaled LTL 749 million. In the first quarter, comparing to the same quarter of last year, the volume of deposits of legal persons rose by 8.9 percent to reach LTL 2 billion.
Inga Skisaker, Nordea Bank Lietuva Director General, says that the bank’s results that have been improving with every passing year prove that the bank has chosen the right strategy: to strengthen relationship with its customers. Our greatest achievement is our customers’ confidence in us and recognition by such international organisations as the international business and financial magazine Global Finance which selected Nordea as Best Bank of 2013 in Lithuania. The awards this year went to those banks which managed to meet the needs of their customers and at the same time to yield good results for future success despite difficult market conditions. What is more, such bank is recommended as a partner in the respective country.
“This recognition is very important to our bank. Our customers, who for a long time now have been maintaining successful cooperation with us, contributed a great deal to the good results of the bank. Sustainable results allow us continue strengthening relationship with our customers and investing in better and more convenient banking in Lithuania,” the head of the bank says.
Nordea Bank Lietuva has been consistently growing in its all main banking activities from 2007. Nordea financial services group is one of the few European banks that have preserved a high rating of AA- by the key rating agencies (Moody’s and S&P), which means that the bank is capable of taking care of its customers even under unfavourable market conditions.
International business and financial magazine Global Finance selected Nordea as Best Bank of 2013 in Lithuania. Nordea Group is also named the best bank in the Nordic region, while in Sweden, Finland and Norway, just as in Lithuania, Nordea won the award as best bank in the respective countries.
Find out more about Nordea Group results here.
Making banking delightfully easy