Swedbank group in Lithuania recorded net profit of LTL 592mn (EUR 171.5mn) in 2011, which indicates increase by LTL 554mn y/y, the bank announced. Swedbank bank alone recorded LTL 571.1mn net profit in 2011, up from net loss of LTL 3.6mn in 2010. Antanas Danys, head of Swedbank, indicated that the banks net profit grew due to recovering Lithuanian economy and declining provisions for bad loans. Excluding provisions the groups net profit stood at LTL 330mn in 2011. In Q4 the group recorded LTL 162mn net profit, up by 27% y/y. The groups revenues stood at LTL 711mn in 2011, up by 14.5% y/y. Net interest income stood at LTL 412mn in 2011, up by 17% y/y. Loans portfolio declined by 7% y/y and stood at LTL 13.9bn as of end-November. Deposits portfolio increased by 4% y/y and amounted to LTL 13.0bn. |
Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more