AB Bank SNORAS changes the interest rates on time deposits

Taking into consideration the tendencies in the market, starting from 11 May this year AB Bank SNORAS will change the interest rates on time deposits in Litas, Euro, Great Britain pounds and USA dollars. The interest rates of Bank SNORAS on time deposits in Litas will decrease by 0.5 - 0.55 per cent, in Euros, Great Britain pounds and USA dollars - by - 1 - 1.05 per cent.

“Decrease of the interest rates on time deposits reflects positive changes in the Lithuanian market. People have returned to the steady way of savings - accumulation of savings on deposits. Meanwhile Bank SNORAS will continue endeavouring that its offered conditions on time deposits to the clients of the bank would remain among the most attractive ones”, states Žoržas Šarafanovičius, the director of Retail Business Division.

Since 11 May the clients of AB Bank SNORAS will be paid the interest rates on time deposits in Litas amounting to 7 - 9.5 per cent, in Euros and Great Britain pounds - 4.5 - 7 per cent, in USA dollars - 2.5 - 5 per cent.

AB Bank SNORAS for some of the most popular 1-6-month deposits in Litas will pay 8.75 per cent, in Euros and Great Britain pounds - 6.25 per cent, in USA dollars - 4.25 per cent. The bank's depositors, prolonging the time deposit of at least 1 month duration, will receive 0.2 per cent higher interest.

AB Bank SNORAS in the first quarter of this year earned 20,2 million of non-audited profit or by one fifth more than during the same period in 2008, when the profit of the bank reached 16,9 million Litas.