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2008-11-28
Within three quarters of the current year assets of AB bank SNORAS group grew up to LTL 8,6 billion
Assets of AB bank SNORAS group, which consists of AB bank SNORAS, AS „Latvijas Krājbanka", branch in Estonia and 14 daughter enterprises in Lithuania and Latvia, within three quarters of a current year grew up in more than LTL 930 million (12 % larger) and comprised the sum of LTL 8,6 billion.

The deposit portfolio of AB bank SNORAS group grew up in LTL 900 million (15% larger) and stood at LTL 6,8 billion. The enterprises of AB bank SNORAS group implemented lending policy effectively: on 1 October overall loan portfolio exceeded LTL 5 billion, of which LTL 2 billion were loans to residents.

During the nine months of the running year bank SNORAS group earned LTL 26,4 million of non-audited net profit. The net interest revenue of bank SNORAS group was LTL 147,7  million (14% larger than in 2007), net service and commission fees revenue reached LTL 78,9 million (18 % more than in 2007), other revenues exceeded the sum of last year's same period three times and was LTL 33,9 million.

AB bank SNORAS group expenses during the nine months of this year amounted to LTL 203,0 million (35 % more than in 2007). The main part of the expenses was comprised of AB bank SNORAS network development in Lithuania and foreign countries (The Republic of Estonia, The Republic of Cyprus, The United Kingdom of Great Britain and Northern Ireland, The Kingdom of Belgium) as well as of investment into the main IT systems of the bank. The increase of the activity expenditure was mainly caused by employee salaries, taxes paid, premises rented, maintenance done and long-term property upkept. Present investment into overall business development is the consistent step that will lead to the solid profitability and the increased value of the bank SNORAS.

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AB Bank SNORAS
7 A.Vivulskio Str. LT-03221 Vilnius
Phone: + 370 5  239 2239
Fax: + 370 5  232 7300
E-mail: info@snoras.com
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