OREANDA-NEWS. January 22, 2007. AB DnB NORD Bankas, a member of international DnB NORD banking family, earned an un-audited net profit of LTL 105,2 million (EUR 30,5 million) in 2007. The financial result, calculated in accordance to International financial accounting standards, was 87,2 percent higher compared to 2006 result when the bank’s audited net profit was LTL 56,2 million, reported the press-centre of AB DnB NORD Bankas.

According to the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli, the bank’s best so far financial result was achieved due to increasing customer base, fast business volume and loan portfolio growth, active performance on investment banking market as well as constant efforts to further improve the bank’s operating efficiency and the quality of the bank’s loan portfolio.

“2007 was another year of dynamic growth for AB DnB NORD Bankas - the bank’s assets exceeded LTL 10 billion litas benchmark while loan portfolio to individual customers and businesses passed LTL 4 billion mark each. Such a rapid growth clearly shows that our customers appreciate our services and that encourages us to continue work hard and consistently on implementation of our key business philosophy notion – sustainable success in banking today can be achieved through prime focus on customer, continuous delivery of superior service quality provided by highly processional and dedicated staff” said Werner Schilli, Chairman of Management Board and President of AB DnB NORD Bankas.

The year 2007 was another year of solid growth for DnB NORD Bankas. According to preliminary data DnB NORD Bankas assets rose 41,6 percent, year on year, to LTL 10,63 billion. The bank’s assets have doubled since the start of 2006, when the bank joined international DnB NORD financial group set up by Norway’s largest DnB NOR ASA bank and North Germany’s largest financial institution NORD/LB.

With prime attention paid to the customer service quality and decision making speed AB DnB NORD Bankas’ loan portfolio grew 43,8 per cent year-on year up to LTL 8,87 billion as at the end December 2007. The loans to individuals rose by 66,1 per cent year-on-year to LTL 4,18 billion while the loan portfolio to businesses increased 28,4 per cent to LTL 4,69 billion.

The savings at AB DnB NORD Bankas totalled LTL 5,3 billion as at the end of December 2007, a 53,7 per cent increase compared with the same period the year before. Over the same period the bank’s deposit portfolio rose 36,4 per cent year-on-year to LTL 4,23 billion. In response to increasing demand for investment products AB DnB NORD Bankas, the leader of Lithuania’s structured investment product market, successfully placed corporate note issues to individual and corporate investors worth LTL 1,1 billion in full year 2007.

Due to proper risk management policy the Bank met all prudential requirements of the Bank of Lithuania.

AB DnB NORD Bankas is a universal commercial bank that provides full range of banking services to individual and corporate customers. AB DnB NORD Bankas runs three subsidiaries: asset management firm UAB DnB NORD Investiciju Valdymas, leasing arm UAB DnB NORD Lizingas and real estate brokerage UAB DnB NORD Bustas. The bank is part of Denmark-based DnB NORD banking group which was established by the Norway’s largest bank DnB NOR ASA and North Germany’s largest bank Norddeutsche Landesbank Girozentrale (NORD/LB) to serve customers in Denmark, Finland, Estonia, Latvia, Lithuania and Poland.