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
The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday.
more »
Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday.
more »
Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency.
more »
Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies.
more »
How should the EU's farm policy be reshaped and how should it be funded after 2013?
more »
MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses.
more »
Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets.
more »
New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy.
more »
The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid.
more »
The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union.
more »