Since the early part of the year, AB Bank SNORAS loan portfolio decreased by 4.3 per cent and on 30th June this year comprised LTL 2.811 billion. In comparison to the same period last year, the bank's loan portfolio grew almost by LTL 10 million. At the close of the first half of 2009, the sum of the provisions formed by the bank amounted to LTL 67.7 million, out of which the provisions for loans comprised LTL 42.5 million. Almost one third of these provisions was formed in the first half of this year.

“Despite the difficult economic season, during the fist six months we were intensively working with the bank's clients - we were restructuring the loans, were revising the credit redemption schedules, were lending money for turnover needs. The economic recession has mostly affected the sectors of real estate, construction, transport, and retail trade. Payment settlements get stuck between economy subjects and it becomes a serious problem. Due to the increased unemployment, the status of private clients also deteriorates. The slight decrease in AB Bank SNORAS loan portfolio does not stand out from the overall situation in the market. We realistically assess the current situation - as the Lithuanian economy rapidly recedes, in the future the bank may have to form even more provisions for covering bad loans,” states Raimondas Baranauskas, the President of AB Bank SNORAS.

While optimizing the bank's activity, the bank activity expenditures within the first six months, in comparison to the first half of last year, decreased almost by 6 per cent and stood at LTL 52.9 million. The deposit portfolio of AB Bank SNORAS, which owns the widest network of 253 customer service subdivisions in Lithuania, during the first half of this year grew almost by 11 per cent and reached LTL 4.264 billion.

“The growth of AB Bank SNORAS deposit portfolio is a clear proof of the increasing trust towards the bank as a financial partner, confirming that Bank SNORAS constantly offers to its clients some of the most attractive savings conditions,” maintains R. Baranauskas.

The turnover on Bank SNORAS payment card accounts exceeded LTL 2.7 billion during the first half of this year and it was by 13 per cent greater than in the same period last year. The bank has issued almost 690 thousand payment cards, and this year it invested over LTL 7 million in modernizing the network of 340 ATMs.

As of 30th June this year, Bank SNORAS had 1,063 million customers, or by 25 thousand clients more than at the beginning of the year. Since the early part of the year the bank has attracted 767 new legal clients, or more than 6 companies on every business day. As of 30th June this year, 1152 employees worked in Bank SNORAS, or by 32 employees fewer than at the outset of the year.