OREANDA-NEWS. On December 10, 2007 Ukio bankas announced that agreement was signed in London on 07 December 2007, according to which a subordinated loan for EUR 27 million (LTL 93,23 million) has been provided to Ukio bankas by subscription of fixed-floating rate subordinated notes. Maturity of the loan – 10 years. It is planned that issued notes will be included in the bank’s Tier 2 capital, reported the press-centre of Ukio bankas.

“We will apply to the permission of the Bank of Lithuania to include the received subordinated loan to the capital of the bank in the nearest time. The loan received will warrant further consolidation of the bank’s capital base and development of Ukio bankas activities. This subordinated loan raising long-term resources from foreign funds is another evidence of high-level confidence of foreign investment in Ukio bankas” – says Edita Karpaviciene, Chairwoman of the Board of Ukio bankas.

During the first eleven months of 2007, Ukio bankas earned LTL 78,9 million of non-audited net profit, which shows a 2,2 times increase compared to the same period of 2006 (LTL 35,6 million). During the first nine months of 2007, Ukio bankas assets grew by LTL 939 million or 31 percent and totalled LTL 3,96 billion on 30 September 2007. During three quarters of 2007, the Bank’s deposit and LC portfolio rose by 25 percent, from LTL 2,11 billion to 2,64 billion, and the Bank’s loan portfolio in the net value jumped by 64 percent, from LTL 1,32 billion to 2,16 billion, during the same period.

The rapidly growing Ukio bankas offers a wide range of services to both private and business clients. During the 3rd quarter Ukio bankas expanded its client service network up to 51 outlets and presently holds 12 branches and 39 client service units in Lithuania.