OREANDA-NEWS. February 12, 2009. According to preliminary data, in 2008 AB DnB NORD Bankas (company code 112029270, VAT payer code LT120292716, registered office at J. Basanaviciaus St. 26, Vilnius, the data is collected and stored at the Register of Legal Entities) earned an un-audited profit before income tax of LTL 83.8 million (EUR 24.3 million) and AB DnB NORD Bankas group earned an unaudited profit before ingome tax of LTL 82.9 million (EUR 24 million). In 2007 the bank‘s audited profit before income tax was LTL 131.6 million (EUR 38,1 million) as the AB DnB NORD Bankas group earned LTL 131.0 million (EUR 37.9 million) audited profit before ingome tax, reported the press-centre of AB DnB NORD Bankas.

According to preliminary data, in 2008 AB DnB NORD Bankas earned an unaudited net profit of LTL 70.7 million (EUR 20.5 million) and the unaudited net profit of AB DnB NORD Bankas group was LTL 69.4 million (EUR 20.1 million). In 2007 the bank‘s audited net profit was LTL 107.9 million (EUR 31,3 million) and the AB DnB NORD Bankas group earned LTL 106,9 million (EUR 31 million) audited net profit. AB DnB NORD Bankas and group financial results are calculated in accordance to International financial reporting standards.

In 2008 AB DnB NORD Bankas achieved most of the goals set at the start of the year - in retail and corporate banking AB DnB NORD Bankas grew faster than the market in credit, deposit and investment segments maintaing concervative risk management policy.

Constant focus on operating efficiency, enhanced attention to risk management and efforts to keep costs in control helped to offset somewhat the effects of the country's slowing economic growth on the full year financial result that in the fourth quarter of 2008 was negatively affected by higher impairment and other provision expenses mostly in real estate development and transport sectors.