OREANDA-NEWS. November 02, 2012. According to preliminary data, unaudited net profit earned over the three quarters of the year 2012 by AB SEB bankas is LTL 103.1 million (EUR 29.9 million) and by AB SEB bankas Group – LTL 137.0 million (EUR 39.7 million), reported the press-centre of SEB Bank. 

The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the three quarters of the year 2011, unaudited net profit earned by AB SEB bankas totaled LTL 246.7 million (EUR 71.4 million) and by the Bank’s Group – LTL 431.5 million (EUR 125.0 million).

The SEB Bank Group Lithuania consists of SEB Bank, SEB investiciju valdymas, SEB lizingas and SEB Venture Capital.

Comment by Raimondas Kvedaras, President of SEB Bank:

Stability of the Lithuanian economy in Q3 had a positive impact on the operating result of the SEB Bank Group. Nevertheless, low interest rates due to an impact of the global market and a modest demand for deposits determined a decrease in the bank group’s net interest income. The bank group’s net profit was lower year-on-year due to a decrease in provisions for credit losses in 2011.

In nearest quarters, business environment will be further challenged by Euro zone debt crisis, which will be the main factor for global interest rates remaining low, for prevailing uncertainty, which encourages saving rather than borrowing and consumption. Anyway, markets of the main export partners will get stronger, providing basis for further improvement of business and the financial standing of the population.

The bank's credit portfolio remains the largest one in the market, and within nine months we have issued nearly LTL 3 billion in new loans to corporate and private individual customers.

As before, we are pro-actively encouraging the development of self-services, which change the behaviour of the population and businesses in managing their finances, and we offer to most favourable conditions for the customers who choose us as their home bank.

Key financial ratios of the SEB Bank Group:

The SEB Bank Group’s assets as of 30 September 2012 was LTL 23.6 billion, i. e. it decreased by 1 per cent (LTL 23.9 billion, year-on-year).

The SEB Bank Group’s equity as of 30 September 2012 was LTL 2.5 billion (LTL 2.3 billion, year-on-year), i. e. it decreased by 7.8 per cent.

In the period from 30 September 2011 till 30 September 2012, the bank's deposit portfolio increased from LTL 9.4 billion to LTL 12.2 billion, i.e. by 30 per cent.

As of 30 September 2012, the SEB Bank Group’s credit and leasing portfolio was worth in total LTL 18.4 billion, i. e. it decreased by 3 per cent (as of 30 September 2011 it was LTL 19.0 billion).

Since the beginning of the year, an increase in the portfolio of new loans (extended loans excluded)issued by SEB Bank was 2 per cent, up to nearly LTL 2 billion 922 million, as compared to the result as of 30 September 2011.

The SEB Bank Group’s income, as compared to the result of three quarters of 2011, increased by 1 per cent and was LTL 404.2 million.

As of 30 September 2012, the SEB Bank Group’s liquidity ratio was 36.5 per cent (regulatory standard being 30 per cent).

The number of registered users of SEB Bank’s Internet banking increased to 1.057 million, i. e. by 7.4 per cent as against the data of relevant three quarters of 2011 (984 thousand).

The number of users of the bank's services via mobile phone increased up to 487 thousand, i.e. by 16 per cent as compared to the data of relevant three quarters of 2011 (420 thousand).

Over a relevant period, the number of payment transactions via the Internet increased by 14.4 per cent, and the turnover in payment card accounts since 30 September of the previous year increased by 12.2 per cent, the number of POS terminals increasing by 8 per cent.

As at 30 September 2012, the bank had 48 customer service units all throughout Lithuania. SEB Bank customers may use an ATM network which is the largest one in Lithuania and includes ATMs of SEB and DNB Bank, i. e. 543 ATMs in 82 towns, large and small.