AB Bank SNORAS business loan portfolio has increased by 74 million Litas

On 30th April this year, AB Bank SNORAS business loan portfolio, in comparison to 31st December 2008, i.e. during the first four months of this year, grew by 74 million Litas or 3.8 per cent, while the business loan portfolio of the most banks operating in Lithuania was decreasing.

“The positive change of Bank SNORAS business loan portfolio during the period of the economic recession confirms that the bank actively participates in the business promotion process. Bank SNORAS has always followed the conservative policy of the client risk assessment and the loan issuance, and it did not participate in the housing loan rivalry ”who will grant the lowest interest loan“. Certainly, at the moment we mainly focus on the present clients of the bank and providing services to them; however, we can't help rejoicing over the growth of the business loan portfolio,” states Modestas Keliauskas, the member of AB Bank SNORAS Board and the director of Corporate Business Division.

Bank SNORAS business loan portfolio, which has been rapidly growing during the past several years, at the end of April 2009 comprised more than 2 billion Litas (2,021 billion Litas).

The largest part of the business projects credited by Bank SNORAS belongs to the manufacturing industry sector as well as to the transport and telecommunication sectors. During the last twelve months Bank SNORAS granted quite many loans to the sectors of wholesale and retail trade and financed agriculture, forestry and tourism projects.