OREANDA-NEWS. On August 27, 2008 The international rating agency Standard & Poor’s confirmed ratings previously assigned to Ukio bankas, reported the press-centre of Ukio bankas.

The ratings assigned to Ukio bankas have not changed: the Bank was assigned positive ‘BB’ long-term and ‘B’ short-term counterparty credit ratings. The outlook of Ukio bankas rating change was changed from stable to negative.

The change of Standard & Poor’s rating outlook was preconditioned by the country’s general macroeconomic situation and the Bank’s growth. The Agency has positively evaluated the Bank’s capitalisation and growing assets, which amounted to LTL 4.51 billion at the end of the year, as well as the market share it takes (7.6 percent). The Agency also emphasised a positive effect of the real estate transaction in Moscow.

“Ukio bankas lending policy is based on the principles of conservatism. The Bank continues planning the actions of its development and intends to strengthen the base of its statutory capital. We plan to further be active in creating new banking products that meet the conditions of the financial market as well as the needs of our clients,” Edita Karpaviciene, chairwoman of Ukio bankas Board, said.
During the 1st half-year of 2008 Ukio bankas earned LTL 50.6 million in net unaudited profit, i. e. 1.6 percent more when compared to the same period of 2007 (LTL 49.8 million).

During the 1st half-year of 2008 Ukio bankas assets grew by LTL 205 million, showing a 5 percent increase, and at the end of the half-year totalled LTL 4.22 billion. During six months of 2008 the Bank’s deposit and LC portfolio increased 7 percent from LTL 2.73 billion to LTL 2.94 billion, and the Bank’s loan portfolio in the net value jumped 13 percent from LTL 2.36 billion to LTL 2.68 billion during the first six months of 2008.

The number of the Bank’s active clients grew by 10.9 thousand, i. e. 9 percent, during the first six months of 2008.