LT: Swedbank Lithuania net loss down by 12% y/y in Q2.

By bne IntelliNews July 23, 2010
Lithuanian branch of Swedbank recorded net loss of LTL 75mn (EUR 21.7mn) in Q2, which indicates 12% y/y decline. The bank made provisions of LTL 149mn in Q2, a figure lower by 26% y/y. In Q2 revenues declined by 26% y/y to LTL 145mn. In H1 profit before taxes and provisions stood at LTL 181mn, which indicates 36% y/y decline. Net loss in H1 stood at LTL 142mn, which indicates decline of 60% y/y. The bank formed provisions for bad loans in amount of LTL 349mn in H1, which indicates 51% y/y decline. In H1 revenues of the bank amounted to LTL 341mn, which indicates 23% y/y.

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