Bank SNORAS deposit portfolio exceeded LTL 5 billion

At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits.

“For the first time in the bank’s history do we have the deposit portfolio exceeding LTL 5 billion and continuing to grow. At the very apex of the economic recession, a year ago, Bank SNORAS had over LTL 1 billion fewer deposits, whereas during the first three months this year alone, even after the deposit interest rates decreased in the market, the bank’s deposit portfolio grew by LTL 250 million, and the number of the depositors increased by more than 13 thousand. This statistics expressly shows the increased trust of the clients toward AB Bank SNORAS as well as the growing reputation of the bank,” says Raimondas Baranauskas, the president of AB Bank SNORAS.

The growth of the fastest expanding time deposit portfolio of natural persons in the bank was mostly conditioned by some of the most favourable savings conditions offered in the market and the Bank SNORAS created and developed regional customer service network, which comprises 253 customer service subdivisions in the country. Moreover, presently in more than a dozen of small towns in the country, Bank SNORAS mini-banks are the only subdivisions providing the banking services to local residents.

More than 141 thousand residents keep their time deposits in Bank SNORAS. Over two-thirds of the bank’s depositors prolong their deposits.

As of 1st March 2010, Bank SNORAS, according to the size of the household deposit portfolio, is the third bank in the market of the Lithuanian banks and it occupies 14.3 per cent of the natural person depositors market and 12.7 per cent of the entire deposit market. The deposit market share occupied by the bank continues to grow consistently.