LT: Nordea bank records net profit of EUR 9.7mn in Lithuania in 2010.

By bne IntelliNews February 3, 2011
Nordea bank recorded net profit of LTL 33.6mn (EUR 9.7mn) in 2010, the bank announced. In 2009 the bank recorded a net loss of LTL 40.5mn. Operating profit before taxes and provisions stood at LTL 118.8mn, which indicates 75.5% y/y growth. Assets of the bank increased by 1.6% y/y in 2010 and stood at LTL 8.3bn, while loans portfolio declined by 1.6% y/y and stood at LTL 6.8bn. Head of Nordea Bank Lietuva Inga Skisaker indicates that more stable situation in the real estate market and growing consumers confidence should increase loans market, yet households financial situation and increase in consumption costs will still hinder private and real estate loans market.

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