OREANDA-NEWS. November 15, 2011. The profits before tax of Danske Bankas for the first three quarters of banking activities this year, including the leasing services provided by the subsidiary UAB Danske Lizingas, totalled LTL 50.5 million. The profits before tax for the first three quarters of last year totalled LTL 21.1 million, reported the press-centre of Danske Bankas.

The profits before tax of Danske Bank A/S Lithuania Branch for this year’s first three quarters totalled LTL 50.1 million. The profits before tax of Danske Bank A/S Lithuania Branch for the first three quarters of last year totalled LTL 21.5 million.

‘The results achieved by the bank in the first three quarters of this year have complied with our expectations and shown that we have chosen the right operation strategy. We hope that the last quarter of this year will enable us to end 2011 productively. As we look upon the next year and plan the operations of the bank, we must consider macroeconomic forecasts, namely weakening export markets, capital becoming more expensive, and slowing economic growth and find solutions to help us adapt to market conditions and strive for optimal financial results’, Gintautas Galvanauskas, general manager of Danske Bankas, said.

Over the first nine months of this year, net interest revenue dropped 5% compared to the same period last year and totalled LTL 60 million. Gross revenue from banking operations totalled LTL 76 million. Operating costs remained similar to those incurred in the first three quarters of the previous year. The operating cost/revenue ratio of the first three quarters of 2011 equalled 59.2%.

The Danske Bankas deposit portfolio, compared to the same period last year, increased 3%, while the deposit-to-loan ratio grew from 64% to 74% (as of 30 September 2011). In the first nine months of this year, the loan portfolio decreased by 11%.

On 30 September 2011, the Danske Bankas share of the loan market equalled 6.8%.