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, highlighted that the bank maintained high business financing volumes in the second quarter after becoming the largest business financier in Lithuania in the first quarter.
Income Growth: Total income for the first six months increased by 16.1% to €410mn. Lending volumes in Lithuania rose by 13% to €9bn, while deposits grew by 11% to €15.3bn as of late June.
The bank allocated €38mn for the solidary levy in the second quarter.
Swedbank Lithuania posted a net profit of €361mn for the full year 2023, as initially reported by BNS, a Lithuanian newswire.
Related Articles
Estonian banks see €368mn profit in Q1 2025
Commercial banks in Estonia earned a combined profit of €368mn in the first quarter of 2025, down from €444mn a year earlier but up from €291mn in the previous quarter, according to Eesti Pank, ... more
Poland’s Orlen signs deal to supply Ukraine with LNG
Ukraine’s Naftogaz will purchase 100mn cubic metres of LNG from Poland’s Orlen, Ukraine’s biggest state-owned energy firm announced on March 7. The LNG will be transported from cargoes ... more
Swedbank Estonia CEO says Lithuania's bank taxes spooked investors' and foreign banks’ interest
Olavi Lepp, CEO of Swedbank’s Estonian branch, stated that Lithuania’s recently imposed temporary bank solidarity levy has dampened interest among new banks and foreign investors in the ... more