OREANDA-NEWS. February 09, 2009. Unaudited net profit of Medicinos bankas was LTL 5,82 million or by 4,6 percent higher than in 2007 when the bank earned LT 5,56 million. In 2007, the assets of the bank increased by 5,44% and on December 31, 2008 it totalled LTL 746,06 million if compared to LTL 707,56 million at the end of 2007, reported the press-centre of Medicinos bankas.

"Our investments to the bank development and efforts in providing top quality services to our customers served the purpose"- said Mr. Kestutis Olsauskas, the head of the Administration of Medicinos bankas. - We are happy about constantly growing number of clients and confidence.

Pursuant to the unaudited data, the deposits and bills of credit of our customers increased by 21,94% last year and on December 31 amounted to LTL 493,26 million, if compared to LTL 404,50 million at the end of 2007. If compared to the result of 2007, the number of natural persons and legal entities who opened accounts with Medicinos bankas increased by 45,32% and 16,5% respectively.

The loan portfolio within the same period increased by 6,05%. Up to LTL 474,42 million if compared to LTL 447,35 million on December 31, 2007.

Last year Medicinos bankas opened 12 new customer service divisions in Trakai, Druskininkai, Raseiniai, Utena, Anyksciai, Telsiai, Pasvalys, Panevezys, Klaipeda and Vilnius. By the end of 2008, the bank operated 43 customer service divisions, 10 branch offices and 44 currency exchange offices. At the beginning of January, Medicinos bankas opened a new and the first this year customer service department in Mazeikiai.

Mr. Olsauskas says that the bank implemented the tasks raised by the shareholders for the year 2008. This year, Medicinos bankas shall continue provision of services to micro companies and small business in addition to improved quality of services and updated technological resources. The German KfW bank shall remain our strategical partner.

At the beginning of February 2008, the bank issued a new emission of shares which doubled the authorized capital of the bank up to LTL 68,9 million. Soon the international ratings agency "Fitch Ratings" awarded Medicinos bankas with the long term borrowing rating 'B" which assures stable perspectives.

The major shareholder of Medicinos bankas Mr. Saulius Karosas together with the company owned by him "Western Petroleum Limited" holds 97,67 percent of the total number of the bank's shares.