OREANDA-NEWS. February 20, 2014. In 2013 the increased Siauliu bankas Group  generated  LTL 18.4 million of the pre-audited net profit , which by 41 per cent exceeded the result achieved in 2012 when  earnings amounted to LTL 13.0 million.

The  pre-audited net profit of Siauliu bankas compiled LTL 10.7 million in 2013, i.e. by 28 per cent less than in 2012 when it reached LTL 14.9 million. The annual net interest income of the Group increased by 44 per cent comparing to 2012 and formed almost LTL 83 million. The annual income from the net service and commission fee had also increased - it comprised LTL 14.7 in 2013 which is by 82 per cent more than in 2012.

The annual profit from the transactions in foreign currency grew by 48 and comprised LTL 7.2 million. Comparing the Bank's data for the year of 2013 with the information of the preceding year, please, pay your attention to the fact that the takeover of Ukio bankas' assets and liabilities has had a significant impact on the result of Siauliu bankas' Group achieved over the previous year.

The impairment of assets has made a negative impact on the result of the Group's performance. The change of value of the assets of Siauliu bankas' Group as well as impairment of loans taken over from Ukio bankas accounted for LTL 50.5 million of loss over the year. They had been partially compensated by the loans recovered from Ukio bankas, the positive impact of which in the amount of LTL 12.2 million was accounted in Group's other  income. Assessing the mentioned impact the actual impairment loss incurred over the year reached LTL 38.4 million.

Over 2013 the Bank Group incurred LTL 112.8 million of operating costs  which is by 55 per cent more than in 2012. To the large extend the growth of the operating costs have been influenced by the takeover of Ukio bankas' assets and liabilities. The above-mentioned fact has influenced the activity ratios of the Bank Group. The cost to income ratio comprised 65.8 per cent, while the return on equity reached 5.8 per cent.

The Group's assets grew by more than 80 per cent up to LTL 5.3 billion over the year. The deposit portfolio has doubled over the reporting year and exceeded LTL 4.5 billion. Among the banks operating in Lithuania with its deposit market share of 9.7 per cent Siauliu bankas rose to the fourth position. Currently retained reserve of the free funds allows making assumption for the further increase of the loan portfolio in the nearest future, which, at the end of 2013, comprised LTL 2.4 billion.

In compliance with the agreement signed by Siauliu bankas AB, temporary administrator of Ukio bankas and the State undertaking “Deposit and Investment Insurance” dated 23 February 2013 with its further amendments the call option rights of Ukio bankas AB to acquire the part of the assets taken over by Siauliu bankas AB from the failed Ukio bankas AB expired on 2 February 2014 as it was foreseen. Neither of five call options, during which the part of the assets taken over by Siauliu bankas  from Ukio bankas  were exposed to sale, had been realized

The number of Siauliu bankas' customers has doubled over 2013 and currently exceeds 300 thou. In terms of the number of the customer service points in Lithuania  Siauliu bankas, operating through 76 outlets in 38 towns, takes the second position. The clients of Siauliu bankas use 230 ATMs belonging to bank's network which operates in 56 cities and towns throughout Lithuania. The  Bank's clients can withdraw cash or placed their  funds to the payment card accounts through 1800 terminals of "Perlo paslaugos" UAB all over Lithuania.