SEB Lithuania's Q1 profit edges down by 2% to €74.2mn

By bne IntelliNews April 29, 2024

SEB, one of Lithuania's largest banks by assets, earned a non-audited net profit of €74.2mn in January-March, down by 2% from the same period last year, BNS, a Baltic newswire, reported on April 26.

Revenue rose 22.5% to €148mn, and net interest income went up by 26.3% to €120.4mn, the bank said on Wednesday, 24 April.

"The population's growing purchasing power and businesses' increased focus on investment had a positive impact on economic activity, which was also supported by SEB Bank's growing lending volumes. Inflation approaching zero and rising wages increased the share of funds allocated to savings and investments," the bank's CEO, Sonata Gutauskaite-Bubneliene, said in a statement.

The bank's total deposit portfolio stood at €11.5bn, up by 5.5%. The net loan and leasing portfolio totalled €7bn in late March, up by 6.1%. 

SEB's assets grew by 7% year on year to €13.8bn, BNS said.

Related Articles

SEB Bank Estonia reports €94mn profit for H1 2024

SEB Bank Estonia announced a net profit of nearly €94mn for the first half of 2024. SEB Bank Group ended H1 2024 with a profit of €93.9mn, down from €113.3mn in H1 2023. Operating ... more

Swedbank Estonia achieves €182mn net profit in H1 2024

Swedbank Estonia managed to secure a net profit of €182mn for the first half of 2024, despite a minor drop in revenue, it said in a press release. Private customer loans increased by 4%, ... more

Swedbank Lithuania's H1 net profit drops 10% to €175mn in H1 2024

Swedbank Lithuania reported a 10.2% year-on-year decline in its first-half net profit, bringing it down to €175mn, according to a press release. Inga Skisaker, Swedbank Lithuania's CEO, ... more

Dismiss