Autorius: DnB NORD bankas, Parašyta: 2007-01-23 09:21.
URL: https://www.traders.lt/page.php?id=242
VILNIUS. AB DnB NORD Bankas, a member of dynamic DnB NORD banking family, earned an un-audited net profit of LTL 56.22 million (EUR 16.28 million) in 2006 exceeding its profit target for the year. The financial result, calculated in accordance to International financial reporting standards, was 30.6 percent higher compared to 2005 result when the bank’s audited net profit was LTL 43.04 million.
According to the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli, the best in the bank’s history financial result was achieved due to increasing customer base, fast business volume and loan portfolio growth as well as constant efforts to further improve the bank’s operating efficiency.
„The year 2006 was of special importance for us: we joined international DnB NORD banking family, we consolidated our position in key market segments, we won recognition as the country’s Best Debt House and received a rating upgrade. This year we are firmly determined to maintain our strong position in corporate and investment banking and to focus on service quality, service culture and service speed while offering individually tailored simple and efficient solutions to individual customers and small and medium size enterprises,” said the President and the Chairman of Management Board of AB DnB NORD Bankas Werner Schilli.
The year 2006 was another year of impressive growth for DnB NORD Bankas. According to preliminary data DnB NORD Bankas assets rose 46.4 percent, year on year, to LTL 7.51 billion, the growth exceeding the overall market trend.
In 2006 DnB NORD Bankas became the most flexible decision maker in Lithuania’s large corporate loan market and the fastest decision maker on the country’s consumer loan market, following the implementation of advanced electronic decision support system. That reflected in the fast growth of DnB NORD Bankas loan portfolio in 2006.
DnB NORD Bankas loan portfolio had risen by 55.2 percent year on year to LTL 5.82 billion as at the end of 2006. The growth resulted from increased lending both to corporate clients (by 46.4 percent to LTL 3.3 billion) and to the individual customers (by 68.4 percent to LTL 2.52 billion).
The bank’s deposits rose by 15.4 percent to LTL 3.03 billion as at the end of 2006, of which deposits of individual customers grew up by 22.1 percent to LTL 1.89 billion litas. In response to rising demand for investment products in 2006, DnB NORD Bankas successfully placed 23 bond issues worth LTL 268 million at par, the majority of them index linked notes, and won the title of Lithuania’s best Debt House from Euromoney magazine.
To finance further balanced growth DnB NORD Bankas raised its authorized share capital twice in 2006. The bank’s authorized share capital made LTL 311.7 million as at the end of 2006. Due to proper risk management policy the Bank met all prudential requirements of the Bank of Lithuania.
Fitch Ratings, the international rating agency, on 21 December 2006 upgraded the Bank’s Issuer Default rating to 'A' from 'A-' (A minus) and Short-term rating to 'F1' from 'F2'. The rating, that reflects the creditworthiness of the bank, is now in line with long term credit ratings assigned to Lithuanian Republic.