OREANDA-NEWS. August 12, 2011. According to unaudited data, in the second quarter of 2011 Ukio bankas Group earned LTL 3.0 million in net profit, Ukio bankas – LTL 0.8 million in net profit. At the end of the second quarter Ukio bankas had 163,000 clients. The positive results of the second quarter reduced the first-quarter loss of the Group and of the Bank – Ukio bankas Group finished the first half-year of 2011 with a net loss of LTL 0.6 million, while Ukio bankas non-consolidated half-year losses amounted to LTL 5.3 million, reported the press-centre of Ukio bankas.

“The second quarter of this year was successful to Ukio bankas Group – with the net interest income gradually increasing for a fifth quarter in a row already, Ukio bankas and the Group started working profitably and earned quarterly profit before and after the formation of special provisions. The influence of the growing national economy makes it possible to expect a further growth of income this year,” Arnas Zalys, Deputy Chairman of Ukio bankas Board, said.

As maintained by Mr Zalys, Ukio bankas progress also received positive evaluations from the international rating agency Standard&Poor’s, which upgraded the Bank’s short-term credit rating and rating outlook at the end of May of this year. Currently Ukio bankas is offering a new share issue of LTL 50 million which is likely to contribute to the Bank’s further growth.

Several months ago Ukio bankas reduced interest on consumer loans. Furthermore, taking into account a more stable economic situation of the population and evaluating situation in the labour market Ukio bankas has offered consumer loans with additional insurance against job loss to individuals.

Apart from Ukio bankas, Ukio bankas Group holds the subsidiaries Ukio banko lizingas, Ukio banko investiciju valdymas, Ukio banko rizikos kapitalo valdymas, Investicinio turto valdymas, Bonum Publicum, Turto valdymo paslaugos, Trade Project, and Eastern Europe Development Fund. UAB Ukio banko rizikos kapitalo valdymas owns a 100 per cent shareholding in RAB Ukio bank lizing.