Danske Bank Lithuanian branch annual financial report

In the year 2017, Danske Bank Lithuania’s profit before tax for core activities was EUR 8.2 million (against EUR 9.2 million a year before).

The loan portfolio decreased 4% from the year-earlier period to EUR 703 million (EUR 735 million in 2016). However, the quality of the portfolio improved and reversals of impairment charges was EUR 1,4 million (EUR 0,8 million a year before) . Danske Bank Lithuania’s core activity deposit portfolio increased 9% to EUR 963 million (EUR 882 million in 2016).

“Pricing regulation in the market and low customer activity in the securities trading market had a significant impact on financial performance in 2017. In addition, we are still investing in the customer service platform in the Baltic countries, which resulted in increased operating expenses. This led to drop of 11% in profit before tax,” says Ramūnas Bičiulaitis, CEO of Danske Bank Lithuania.

Danske Bank today announced its financial results for 2017. Further information related with Danske Bank Lithuania financial report placed here. Group’s financial report available at danskebank.com/reports.