Lithuania's Parex bank reported an unaudited net profit of 1.085 million litas for the first half of this year
Published:
2 August 2002 y., Friday
Lithuania's Parex bank , controlled by the Latvian bank Parex, reported an unaudited net profit of 1.085 million litas (EUR 0.314 mln)for the first half of this year versus a loss of 3.487 million litas in the same period last year.
"The bank has achieved good results because it has been actively engaged in attracting new customers and has been pursuing a sound credit and investment policy. Moreover, repayment of loans that had been written off brought in some additional revenues," Raimondas Kutra, deputy chairman of the bank's board and commercial service director, told BNS. According to the data provided by the Bank of Lithuania, Parex suffered a loss of 0.1 million litas in the first quarter of this year, while the bank's annual 2001 loss came to 7.1 million litas. The bank's managers said earlier they were anticipating to break even or earn a profit not exceeding 100,000 litas this year. Parex's assets rose by 39 percent to 296 million litas in the six months, its loan portfolio grew by 35 percent to 101 million litas and its deposits increased by 1.5 times to 162 million litas. (EUR 1 = LTL 3.45)
Šaltinis:
parex.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »