LT: BigBank subsidiary in Lithuania record net loss in Jan-Oct.

By bne IntelliNews November 9, 2011
Lithuanian subsidiary of Estonian bank BigBank recorded net loss of LTL 0.2mn (EUR 0.1mn) in Jan-Oct, down from LTL 0.9mn net profit earned in Jan-Sep 2010. Net interest income revenues amounted to LTL 13.5mn in Jan-Sep, 2.3% y/y increase. Loans portfolio of the bank as of end-Sep amounted to LTL 64.1mn, 12.7% y/y increase. Rolandas Norvilas, head of the subsidiary in Lithuania, pointed out that the company has invested heavily in the development of partners network, while the growth in loan portfolio shows successful development of the company. BigBank currently operates 30 customer service offices in the Baltic States and Spain.

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