OREANDA-NEWS.  May 04, 2012. According to preliminary data, unaudited net profit earned over the first quarter of the year 2012 by AB SEB bankas is LTL 30.7 million (EUR 8.9 million) and by AB SEB bankas Group is LTL 41.5 million (EUR 12.0 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 first quarter of the year 2011, unaudited net profit earned by AB SEB bankas totalled LTL 97.6 million (EUR 28.3 million) and by the Bank’s Group – LTL 174.1 million (EUR 50.4 million), reported the press-centre of SEB Bank.

Comment by Raimondas Kvedaras, President of SEB Bank:

During 1Q 2012, Lithuanian economy was still on the development track, GDP growth goes on, though not so rapidly.

The Bank Group’s 1Q operating income remained stable and profit decreased year on year only statistically – the decrease was determined by the fact that in 1Q 2011 there was an improvement in the financial standing of some of the bank’s customers, therefore, the bank could at that time decrease provisions.

In 1Q 2012 we found that our private individual customers started to use more actively various banking services: making deposits, using payment cards, executing various payment transactions.

During Q1 we have issued almost a billion LTL (907.6 m LTL) for new loans, including renewed contracts, i.e. 27.0% more in comparison with 2011 Q1. The amount of new loans issued to private individual customers increased by 15.1 %, to corporates and institutions increased by 33.2%.

We will continue looking for promising projects for financing while taking a responsible attitude in assessing our risks, and aim at strengthening cooperation with our customers, who seek to develop their business.

This year we have a particular focus on enhancing our operational efficiency, we have optimised customers service branches network and increased the number self service zones. We adhere to our strategy to be the home bank for our customers offering them modern universal banking services.

SEB Bank Group’s key financial data:

The SEB Bank Group’s assets as of 31 March 2012 were LTL 25.6 bn, i.e. increased by nearly 18 per cent (LTL 21.8 bn YOY).

The SEB Bank Group’s equity as of 31 March 2012 was LTL 2.4 bn (LTL 2.0 bn YOY), which is a 16.7 per cent increase.

Within the period 31 March 2011 – 31 March 2012, an increase in the bank's deposit portfolio was from LTL 9.2 bn up to LTL 12.0 bn, i.e. 30 per cent.

As of 31 March 2012, the SEB Bank Group’s loans and leasing portfolio was worth LTL 18.5 bn in total, i.e. decreased by 3 per cent (as of 31 March 2011, it was worth LTL 19 bn).

As compared to 1Q 2011, there has been no change in SEB Bank Group’s income, which was LTL 128 million.

As of 31 March 2012, the SEB Bank Group’s liquidity ratio was 35.1 per cent, the required minimum being 30 per cent.

The number of registered users of SEB Bank’s e-banking services increased up to 1.029 million or by 7.5 per cent, as compared to 1Q 2011 (957 thousand). Over the same period, the number of executed e-payment transactions increased by 11.5 per cent.

As of 31 March 2012, the bank had 48 customer service sub-branches all over Lithuania. SEB Bank customers may use the largest ATM network in Lithuania – a joint SEB and DNB ATM network with 537 ATMs in 82 cities and towns.