OREANDA-NEWS. July 28, 2008. Unaudited net profit for the first semester of 2008 of UAB Medicinos Bankas has more than doubled up to 6,71 million litas, compared to the respective period in 2007 when net profit totaled 3,03 million litas, reported the press-centre of Medicinos Bankas.

"Consistently developing the customer service network according to the strategic activity plan of the Bank, increasing the volumes of operations and continuously improving the quality of services provided by the Bank, we can boast perfect results", - Gintaras Treinys, deputy administration head of Medicinos Bankas, says.

'Medicinos Bankas' property on 30 June of this year was 776,51 million litas, i.e. by 36,92 percent higher than two years ago when it totalled 567,11 million litas. Loan portfolio for the Bank customers swelled by 36,57 percent - up to 526,16 million litas, compared to 385,27 million litas in the end of the first semester of 2007.

Customer deposits and credits grew by 39,31 percent – up to 446,35 million litas, compared to 320,39 million litas in the end of June 2007.

During the first semester of this year, five customer service divisions were established - in Klaipeda, Raseiniai, Trakai, Utena and Druskininkai, to currency exchange units were opened in Vilnius and Kaunas. While developing the scope of services provided for residents, 15 agreements with service providers regarding the acceptance of taxes in the divisions of Medicinos Bankas were signed.

The Bank consistently organises staff training. During the first half of the year, 175 employees of the Bank took part in the open and internal trainings. "We will continue to focus special attention for the improvement of customer service quality, upgrade of employee qualification, consolidation of the Bank's capital base and the efficient risk management", - G. Treinys says.

In the beginning of February Medicinos Bankas registered a new issue of shares more than doubling its authorised capital up to 68,9 million litas. In the nearest future Fitch Ratings international rating agency granted the long-term B loan rating for Medicinos Bankas with a stable prospect.

All the new emission of shares was acquired by the major bank shareholder Saulius Karosas and currently he holds 97,64 percent of Medicinos Bankas shares together with Western Petroleum Limited, a company directly owned by him.