OREANDA-NEWS. October 20, 2008. As a result of rapid expansion of its customer service network, UAB Medicinos bankas earned LTL 7.89 million of unaudited net profit within nine months of this year and showed increase by 66.2 percent if compared to the results of the respective period of the previous year (LTL 4.75 million), reported the press-centre of Medicinos bankas.

"Consistent implementation of the development plan assured rapid growth of the number of the clients and expansion of operation volumes and, as a result, considerable income growth",- said Mr. Gintaras Treinys, Deputy Head of the Administration of Medicinos bankas.

By the end of September, the bank's assets were LTL 805.79 million i.e. by 30.5 percent higher than the year ago, when it amounted to LTL 617.57 million. The loan portfolio increased up to LTL 520.27 million if compared to LTL 419.01 million at the end of September 2007. During the above period, the customers' deposits and credits considerably increased i.e. by 66.79 percent. By the end of September they amounted to LTL 518.94 million, if compared to LTL 311.12 million a year ago.

Mr. Treinys explained, that in the bank's development plans as a result of instability in the financial markets, much attention was given to risk management and consolidation of the bank's capital basis and therefore, the operation results of the bank considerably exceed the norms limiting operational risks, which have been established by the Bank of Lithuania.

"Long term relations with our customers and their trust are of top priority for us"- explained Mr. Treinys.

Since the beginning of the year, the number of new corporate and individual clients opening accounts with our bank increased by 13.2 percent and 32 percent respectively.

During the first quarter of this year, three new customer services divisions were opened in Anyksciai, Vilnius (Savanoriai customer service division) and Klaipeda (Zemaitija customer service division). Within nine months of this year, eight new customer service divisions were opened and by the end of the year, two more divisions will commence their operation. Currently the bank has 98 customer service divisions.