OREANDA-NEWS. October 28, 2014. The key performance indicators of the biggest Lithuanian capital bank – Siauliu bankas – as well as of the Bank's Group are indicating the dynamics of a coherent business development.

Over the nine months of the year Siauliu bankas’ Group generated the unaudited net profit of LTL 35.2 million which is by 2.4 times more than over the respective period in 2013 when it earned LTL 14.3 million. The unaudited result of Siauliu bankas amounted to LTL 32.9 million. The Bank's net profit reached LTL 8 million during the comparable period a year ago.

The Bank granted more than LTL 600 million in loans to its customers over the nine months of the year. Over the third quarter the Group's loan portfolio grew by LTL 71 million and at the end of September of 2014 comprised LTL 2.4 billion. This growth has been achieved despite the disposed problem loans.

The Bank Group's income from the net service and commission fee has been further growing - the third quarter brought a 13 per cent increase in comparison to the second one while over the period of nine months the net service and commission fee grew by 15 per cent - up to LTL 12.5 million.  Increased customer activity had a positive impact not only on the net service and commission fee received by the Bank's Group, but also on the result gained from the foreign currency operations - almost LTL 3.4 million was earned in this area during the third quarter.

Realization of the problem assets had a positive impact on the growth of the Bank Group's income. The activities carried out by the Bank's subsidiary companies led to decline of the costs incurred by the Bank's Group.

Although impairment of loans and other assets still had a negative impact on the Bank Group's results, however the ratio of non-performing loans to the loan portfolio reflecting the quality of the loan portfolio improved for the second consecutive quarter in turn.

The cost to income ratio decreased by 26 percentage points over the year and comprised 48.8 per cent at the end of third quarter in 2014. The return on equity ratio grew more than twice during the year and at the end of September reached 13.6 per cent.

"Towards the end of the year we are credibly moving to implementation of the financial goals set for the year 2014. The Bank's results achieved over three-quarters are really good - the key performance indicators exceeded the planned ones. We continue working on strengthening the Bank's positions in all major business areas. Currently, our particular attention is focused on the improvement of customer service quality and on making the sales process more efficient in order to enhance a long-term relationship with customers. Also, we are going to pay much attention to the risk management improvement in order to maintain a reliable management system of the faced risks", – says Chief Executive Officer of Siauliu bankas Vytautas Sinius.

For convenience of its customers Siauliu bankas retains one of the largest networks of territorial units – it operates through 74 customer service points in 39 towns of Lithuania. The Bank's customers can  use 230 ATMs of the  joint ATM network of four banks which operates in 46 cities and towns throughout Lithuania, moreover, the customer can cash their funds or place them to the payment card accounts through more than 1800 terminals of "Perlo paslaugos" UAB all over Lithuania.