OREANDA-NEWS. On December 19, 2007 the Bank of Lithuania issued the authorisation to Ukio bankas to include the subordinated loan of LTL 93 million (EUR 27 million), received in London on 7 December this year, into the Bank’s Tier 2 capital, reported the press-centre of Ukio bankas.

The loan was granted by redeeming the fixed-floating rate subordinated notes issued by Ukio bankas. The maturity of the subordinated loan is 10 years.

The subordinated loan included into the Bank’s Tier 2 capital will increase Ukio bankas eligible capital. The loan was taken according to the management’s decision that will allow the Bank to continue successful development and strengthen the capital base.

“The additional capital will help to successfully increase the Bank’s assets and continue Ukio bankas development throughout Lithuania next year too. In the coming year we plan to introduce new banking solutions that meet market conditions to the clients and further seek the Bank’s successful growth”, – Edita Karpaviciene, chairwoman of Ukio bankas Board, said.

During eleven months of this year Ukio bankas earned LTL 78,9 million in unaudited net profit showing a 2,2 times increase compared to the same period of 2006 (LTL 35,6 million). During nine months of 2007 Ukio bankas assets increased by LTL 939 million, i. e. 31 percent, and amounted to LTL 3,96 billion on 30 September 2007.

During nine months of 2007, the Bank’s deposit and LC portfolio surged by 25 percent, from LTL 2,11 billion to 2,64 billion, and the Bank’s loan portfolio in the net value jumped by 64 percent, from LTL 1,32 billion to 2,16 billion, during nine months of this year.

The rapidly growing Ukio bankas provides a wide range of services to both private and business clients. During the third quarter of this year, Ukio bankas expanded its client service network up to 52 subdivisions and presently holds 12 branches and 40 client service units throughout Lithuania.