Lithuania's Siauliu Bankas boosts Q1 net profit 17% to €22.5mn

By bne IntelliNews April 30, 2024

Lithuania's Siauliu Bankas Group reported €22.5mn in first-quarter net profits, up 17% compared to a year ago, BNS, a Lithuanian newswire, reported on April 29.

The group's net interest income rose by 12% to €39.6mn, and net fee and commission income surged by 40% to €6.5mn. 

"We concluded the first quarter with a new strategy and the successful integration of INVL's asset management and life insurance business, significantly contributing to the growth of net fee and commission income and the bank's overall operating results," Siauliu Bankas CEO Vytautas Sinius said in a statement.

Quarter on quarter, the total loan portfolio increased by 4% to €3.05bn and the deposit portfolio grew by 3% to €3.26bn, BNS said.

Related Articles

Citadele Bank profit in Baltics in H1 plummets 21% y/y to €50.9mn

Citadele, a pan-Baltic bank, reported a 21% decrease in net profit for the first half of 2024, totalling €50.9 million compared to €64.5 million in the same period last year, BNS, a Baltic ... more

Latvia’s Citadele bank issued €621mn in new loans for Baltics in H1, mulls IPO

Latvia’s Citadele Bank’s new financing for private, SME, and corporate customers in the region reached €621 million in the first half of 2024. This has contributed to an increase in Citadele's ... more

Germany's Commerzbank has ‘serious’ intentions in Lithuania, to work with corporate clients

Commerzbank, one of Germany's largest banks, has expressed strong interest in Lithuania, according to Lithuanian Economy and Innovation Minister Ausrine Armonaite. After meeting with members of ... more

Dismiss