On 29 May 2018 the Luminor Lithuania interim report for Q1 2018 was published.
“During the Q1 we saw increasing demand both for business and private loans. Savings of private clients continued the steady increase observed in 2017 says Andrius Nacajus, Country Manager of Luminor Lithuania. On the back of favorable macroeconomic environment Luminor Lithuania earned net profit of 14,8 million euros. Also compared to Q4 2017 net interest income increased, operating expenses are lower.
Next to that Luminor Pension funds under management increased and Luminor Leasing led the market in financing new vehicles”.
Comments by Erkki Raasuke, CEO of Luminor Group: "The first two quarters of existence have been busy for Luminor. We are merging six organisations in three countries, executing heavy regulatory agenda and building the foundation for our future growth. Bust most importantly, we are serving our large customer base and ensuring that their daily banking operations are carried on uninterrupted and with increased quality. Considering our transformation related challenges, I would argue that we have managed our work well. I am deeply thankful to many Luminor employees, who have worked very hard to take us here.
Luminor’s goal is to become contemporary financial service provider for Baltic companies and financially active people. We are building on existing sizable business but we also realise the magnitude of the task and our humble starting position in many areas. We are determined to invest into renewal of our offering, to re-build the digital channels and to put our target customer in the centre of everything we do. We do it for our customers as much as we are doing it for our community and for ourselves. Luminor has all the ingredients to be the most exiting change journey in the Baltic financial services market.”
Luminor is a contemporary, new-generation bank and financial services provider in Estonia, Latvia and Lithuania with a local understanding of its home markets and customer needs. Built on the extensive experience of the two leading Nordic banks, Nordea and DNB, Luminor is the third-largest financial services provider in the Baltic region, with a market share of 16% in deposits and 23% in lending. With its customer base of 1.3 million clients and its team of 3000 professionals, Luminor aims to become a leading financial services provider for Baltic businesses and entrepreneurial people.
