The gross profit of Danske Bank Lithuania for the nine months of 2017 was EUR 6,7 million

Lithuanian branch of the largest financial services group in Denmark and second in assets in Northern Europe Danske Bank in the first nine months of 2017 earned EUR 6,7 million before tax (EUR 8,2 million for Q3 2016).

Danske Bank Lithuania’s core activity deposit portfolio was EUR 1009 million (EUR 928 million Q3 2016). The loan portfolio reached EUR 753 million (EUR 749 Q3 2016). Net interest income was EUR 10,1 million (EUR 10,2 million Q3 2016).

“The decline in income was driven mainly by the negative interest rate environment, which caused a decrease in customer investment activity. On the other hand, the Lithuanian economy has been showing more signs of optimism lately and is back on a very good growth track.”

“Business sentiment has been improving as well, so we expect significantly more business activity for the fourth quarter and the beginning of the next year. The successful implementation of our strategy to focus on business customers, ensures that we are ready to meet their needs and help them grow their business, invest in technological upgrading or satisfy the growing demand for their goods and services,” says Ramunas Biciulaitis, Head of Danske Bank Lithuania.

Danske Bank today announced its financial results for first nine months of 2017. Further information is available here.