OREANDA-NEWS. September 07, 2010. During the first half of the current year, AB Bank SNORAS increased the loan portfolio for business by LTL 550 million up to LTL 2,656 billion. SNORAS is the only bank among the banks operating in Lithuania which increased the financing of company projects by more than one quarter – 26 per cent. During the same period, the total market’s loan portfolio for business decreased by 5.5 per cent. The loan portfolio for companies of the bank’s main competitor grew by 1.5 per cent, reported the press-centre of Bank SNORAS.
 
“The fastest growth of the loan portfolio for business was caused by the fact that we managed to offer flexible crediting conditions to Lithuanian companies which are looking for more favourable financing opportunities, we refinanced some of the previous loans of the customers. However, such loans were granted only to promising business projects after a careful assessment of the risk and on the basis of the principles of responsible lending. The main indicators of Bank SNORAS and the loan portfolio that increased by more than one quarter during a half of the year refute the prevailing opinion that Lithuanian banks do not give loans to business. We are expecting the perspectives of business crediting to be favourable in the second half of this year as well,” states Modestas Keliauskas, a member of the Board and the director of Corporate Business Division of AB Bank SNORAS.
 
AB Bank SNORAS financed promising projects in the sectors of the development of commercial and administrative real estate, air transport, infrastructure and services, credited the renovation of tenant houses.

According to M. Keliauskas, among the more interesting projects it is possible to distinguish the building process of the “SNORAS Snow Arena” winter sport complex in Druskininkai that will be operating all year round. The implementation of this winter entertainment project required a credit limit of LTL 58 million confirmed by UAB “Stamita”.

During the first half of 2010, AB Bank SNORAS granted loans independent of the size of the project – it financed both smaller and larger company projects.