OREANDA-NEWS. February 11, 2014. According to preliminary data, unaudited net profit earned over the year 2013 by AB SEB bankas is LTL 212.3 million (EUR 61.5 million) and by AB SEB bankas Group – LTL 212.3 million (EUR 61.5 million).

The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania.

Over the year 2012, audited net profit earned by AB SEB bankas totaled LTL 87.6 million (EUR 25.4 million) and by AB SEB bankas Group – LTL 84.9 million (EUR 24.6 million). In November 2013, AB “SEB lizingas” was merged with AB SEB bankas, therefore, AB SEB bankas results of the year 2012 are reflected including the result of AB “SEB lizingas”.

In November 2013, AB “SEB lizingas” was merged with AB SEB bankas, therefore, AB SEB bankas results of the year 2012 are reflected including the result of AB “SEB lizingas”.

Comment by Raimondas Kvedaras, President of AB SEB bankas:

In 2013, Lithuania’s macroeconomic situation improved, its domestic market recovered, more opportunities emerged to finance companies and private individuals. All this enabled the entire local banking sector to take a stronger standing. We believe that the economic environment will continue to improve, however, its future perspective will to a considerable extent depend on growth of Lithuania’s major export partners, on the country’s consumer behaviour pattern and the recovery of the housing market.

Last year, the bank group’s performance was positive – there was an increase in the bank's net profit and assets, the bank's deposit portfolio as well as income increased, and its cost/income ratio improved.   Customer activity in using various SEB Bank services continued increasing, enabling an 8 per cent increase in the bank group’s income.  In 2013, the volume of new loans issued by the SEB Group for businesses and private individuals was LTL 4.6 billion, which is a 12 per cent increase as compared to a relevant period in 2012.  We are willing to continue with our responsible lending activities by issuing loans to private individual and corporate customers, financing promising business projects and encouraging innovations in business.

We will remain focused on the improvement of daily banking services that could be used by private individuals on their own and at a lower cost than at bank. Taking into account a change in customer behaviour, last year we optimised our ATM network, installed a larger number of cash-in ATMs and 24/7 self-service areas, developed our Internet bank, mobile bank and card services.

This year we will also devote much attention for getting adequately prepared for the planned introduction of the Euro that will require our additional effort and investment.

In the area of customer service, as before, we will aim at strengthening the relationship with our existing customers by providing the best financial solutions to our Home Bank customers.

Key financial ratios of the SEB bankas Group:

AB SEB bankas Group’s equity as of 31 December 2013 was LTL 2.6 billion (LTL 2.4 billion, year-on-year), i. e. it increased by 9 per cent.

AB SEB bankas Group’s assets as of 31 December 2013 was LTL 23.6 billion, i. e. it increased by 2 per cent (LTL 23.1 billion, year-on-year).

In the period from 31 December 2012 till 31 December 2013, the bank's deposit portfolio increased from LTL 12.8 billion to LTL 13.2 billion, i.e. by 3 per cent.

As of 31 December 2013, AB SEB bankas Group’s loans and leasing portfolio (net value) was worth in total LTL 16.6 billion, i. e. it decreased by 3 per cent (as of 31 December 2012 it was LTL 17.1 billion).

During 2013, an increase in amount of new loans (extended loans excluded) issued by AB SEB bankas was 12 per cent, up to LTL 4.6 billion, as compared to the result as of 31 December 2012.

AB SEB bankas Group’s income was LTL 586 million (541 million in 2012).

As of 31 December 2013, AB SEB bankas Group’s liquidity ratio was 38.8 per cent (regulatory standard being 30 per cent).

The number of registered users of AB SEB bankas’ Internet banking increased 46 thousand to 1.1 million, i. e. by 4.3 per cent as against the data of of 2013.

The number of users of the bank's services via mobile phone increased up to 556 thousand, i.e. by 10.7 per cent as compared to the data of of 2012.

Over a relevant period, the number of payment transactions via the Internet increased by 5 per cent, and the turnover in payment card accounts since 31 December of 2011 increased by 2.9 per cent, the number of POS terminals increasing by 2.2 per cent.

As at 31 December 2013, the bank had 46 customer service units all throughout Lithuania. AB SEB bankas’ customers may use an ATM network which is the largest one in Lithuania and includes ATMs of SEB and DNB Bank, i. e. 536 ATMs in 82 towns, large and small.