OREANDA-NEWS. May 15, 2012. The pre-tax profit of Danske Bankas in Q1 2012 from banking activities, including leasing services provided by its subsidiary Danske Lizingas, totalled LTL 40 million. In the same period last year, the pre-tax profit was LTL 16 million, reported the press-centre of Danske Bank. 

The pre-tax profit of Danske Bank A/S Lithuania Branch in Q1 2012 totalled LTL 39 million. In the same period last year, pre-tax profit totalled LTL 14 million.

"2012 first quarter results reflect the bank's consistently implemented strategy that supports our objective to remain safe backwaters for our financial partners and customers," Gintautas Galvanauskas, general manager of Danske Bankas, said. "In addition, the country's main economic indicators let us expect slow but continuous growth in the Lithuanian economy, which will be supported by the strong economies of the country's export partners. We believe that the recovery of the Lithuanian economy and our continuous efforts to optimise banking operations will ensure that Danske Bankas has sustainable operational results."

Compared to the same period last year, the deposit portfolio of Danske Bankas decreased 16 %, while its loan portfolio shrank 8 %. On 31 March 2012, the loan-to-deposit ratio was 64 %.

On 31 March 2012, the share of Danske Bankas in the Lithuanian loan market equalled 7.0 %.