OREANDA-NEWS. November 05, 2014. According to preliminary data, unaudited net profit earned over the three quarters of the year 2014 by AB SEB bankas is LTL 216.5 million (EUR 62.7 million) and by AB SEB bankas Group is LTL 219.5 million (EUR 63.6 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 three quarters of the year 2013, unaudited net profit earned by AB SEB bankas was LTL 169.6 million (EUR 49.1 million) and by AB SEB bankas Group – LTL 167.5 million (EUR 48.5 million).

In November 2013 AB “SEB lizingas” was merged with AB SEB bankas, therefore AB SEB bankas results of the three quarters of the year 2013 are presented including the result of AB “SEB lizingas”.

Comment by President of AB SEB Bankas in Lithuania Raimondas Kvedaras:

Irrespective of continuing geopolitical challenges, the economy of Lithuania is demonstrating moderate growth. The local market continues to develop, the average wage is growing and unemployment rate is dropping, and the above factors form continuous but slowly rising demand for the financial services.

Within the period of three quarters of the current year, the performance of the SEB Bank Group in Lithuania was successful – its assets, deposit portfolio continued to increase, income and net profit was growing, the cost to income ratio has improved. Such results were achieved when more customers of the bank started to proactively use the banking services, and also due to our continuous efforts to improve operational efficiency.

Geopolitical unrest in the region during the recent months made corrections in the development plans of the majority of enterprises in the exports markets and resulted in lower demand of companies for the new sources of financing. The above factors determined more moderate growth of the new loans issued by the bank – within the 9-month period of the year 2014, SEB Bank has issued the new loans worth LTL 3.7 billion, or by 1 per cent more as compared with the equivalent period of the year 2013. On the other hand, such positive developments in the local market have stimulated higher demand of households for loans – during the three quarters of this year, the value of newly issued loans grew by 25 per cent as compared with the relevant period of the year 2013, thus the geopolitical situation until today has not yet made any significant effect on behaviour of our customers.

During the period of nine months of the current year, that bank customers proactively used the online self-services – as compared with equivalent period of the previous year, the value of payment card transactions made by private individuals increased and they more often paid by the bank card, and the number of customer visits to the bank units to perform daily payments decreased and more customers have selected the self-services – the Internet banking and cash accepting ATMs.

Currently we focus on the approaching euro introduction by helping our customer to properly prepare for a smooth start of the year 2015 with the new currency.

AB SEB Bankas Group’s key data:

As of 30 September 2014, the AB SEB Bank Group’s equity amounted to LTL 2.7 billion (as of 30 September 2013 – LTL 2.6 billion), i.e. it grew by 6 per cent.

As of 30 September 2014, the AB SEB Bank Group’s assets totalled LTL 23.6 billion (as of 30 September 2013 –LTL 23.3 billion), i.e. assets grew by 1 per cent.

The deposit portfolio of the AB SEB Bank Group from 30 September 2013 grew by 11 per cent, i.e. from LTL 12.2 billion to LTL 13.6 billion as of 30 September 2014.

Net value of the loan and leasing portfolio of the AB SEB Bank Group as of 30 September 2014 stood at LTL 16.3 billion (as of 30 September 2013 – LTL 17.1 billion), i.e. its value decreased by 4 per cent.

Within the period of nine months of 2014, AB SEB Bank granted the new loans worth LTL 3.7 billion, i.e. by 1 per cent more than within the identical period of the year 2013.

The AB SEB Bank Group’s income during the three quarters of the year 2014 totalled LTL 448.1 million (as of 30 September 2013, its income amounted to LTL 427.3 million), i.e. its income grew by 5 per cent.

The AB SEB Bank Group’s liquidity ratio in the beginning of June of 2014 made up 38.9 per cent (the ratio requirement – 30 per cent).

The number of registered users of the Internet Banking of SEB grew by 43 thousand and at the end of the third quarter of 2014 reached 1,147 million, i.e. grew by 4 per cent as compared with the data as of 30 September 2013.

The number of cash-in transactions at the cash accepting ATMs as compared with the data as of 30 September 2013, increased by 21 per cent, and cash-in transactions at the bank units within the equivalent period decreased by 43 per cent.

The volume of payment card transactions within the above-specified period went up by 4 per cent 4 per cent, and the number of the POS terminals grew by 7 per cent.

The number of money transfers via the Internet Banking increased by 4 per cent as compared with the data as of 30 September 2013.

At the end of the third quarter of the year 2014, AB SEB Bank had 46 customer service units in the entire territory of Lithuania. Customers of SEB Bank have a possibility to use the largest ATM network in Lithuania, which includes 540 ATMs of two banks – SEB ir DNB bank.