After formed 12-million-Litas loan loss provisions, the audited net profit of AS UniCredit Bank Lithuanian Branch amounted to 3.296 million Litas last year. The Lithuanian Branch obtained an audited profit of 4.038 million Litas in 2008. Profit before taxes was 4.2 million Litas in 2009, whereas it amounted to 4.707 million Litas in 2008.

The total loan portfolio of the loans granted by AS UniCredit Bank Lithuanian Branch amounted to 999.265 million Litas in the end of 2009 and was 31 percent higher than at the same time in 2008 (762.7 million Litas). Increasing number of customers indicates the increasing trust to UniCredit Bank. Lithuanian Branch has attracted deposits of 531 million Litas last year or even 2.5 times more than at the same time in 2008.

Rapid growth of the number of customers and the loan portfolio determined bigger assets of the Lithuanian Branch as well: the assets of AS UniCredit Bank Lithuanian Branch increased by over 35 percent in comparison with the same period the year before the last year and amounted to 1.406 billion Litas.

"The year 2009 was a complicated year to the economy of the country; however, at the same time it was also the time of opportunities: when the scope of lending decreased in the market, AS UniCredit Lithuanian Branch increased the number of its customers by a quarter and the total loan portfolio of the Branch increased by almost one third. The bank managed to ensure high quality of credits because of the cautious lending strategy: the ratio of provisions and the portfolio of the credits granted amounted to 1.22 percent last year and was a few times lower than the market average," Mr.Gintaras Maželis, General Manager of AS UniCredit Bank Lithuanian Branch, said.

According to the General Manager of AS UniCredit Bank Lithuanian Branch, good activity indicators were determined by focused implementation of the strategy of the bank, active sales of the services, ability to adapt to the customer's needs and quick decision-making. Besides, the support of UniCredit, one of the biggest financial groups in Central and Eastern Europe, as well as increasing awareness of the bank in the business community of the country influenced development of the Lithuanian Branch greatly.

AS UniCredit Bank Lithuanian Branch sees more sustainable signs of recovery of Lithuanian economy in the second half of this year and expects higher need for business financing. "We will continue strengthening our positions, increase the number of business customers and we plan to increase the loan portfolio by 25 percent this year," Gintaras Maželis said.

AS UniCredit Bank achieved quite positive results in the whole market of the Baltic States as well. Audited profit after taxes amounted to 2.23 million € last year. Besides, the bank managed to increase the deposit portfolio by 109 percent to 422.42 million €. The assets of the bank decreased to 1.071 billion € and the loan portfolio was reduced by 4 percent to 865.23 million €.