OREANDA-NEWS. August 05, 2009. According to unaudited data, Ukio bankas Group has earned a LTL 6.2 million net profit during the first half-year 2009, which is 88 percent lower compared to the same period 2008 net profit result of LTL 53.7 million, reported the press-centre of Ukio bankas.

During the first half-year 2009 AB Ukio bankas has earned a net profit of LTL 4.6 million, which is 91 percent lower compared to the same period 2008 result of LTL 50.6 million.

During the first half-year 2009 Ukio bankas Group assets have grown by LTL 246 million, i. e. by 6 percent, and in the end of June amounted to LTL 4.2 billion. During the first 6 months of 2009 deposits of Ukio bankas Group clients have increased by 6 percent and in the end of June amounted to LTL 3.1 billion. The net value of the loan portfolio has not changed much and at the end of the period amounted to LTL 2.9 billion. The ratio of loan provisions and loans granted has increased from 3.38 percent to 4.05 percent during the first half-year of 2009.

“Taken into consideration current market situation we view the first half-year results of Ukio bankas positively. The main reasons of the Group’s lower profits are growing expense for provisions and narrowed net interest margin due to more expensive borrowing in the local market, also reduced client activity during economic recession. However, irrespective of the weakened economy of the country we continued working with our present clients, extended the range of services, actively granted small loans,” said Arnas Zalys, Head of Ukio bankas Finance Office.

Ukio bankas is 100 percent owner of the companies Ukio bankas Leasing, Ukio bankas Investment Management, Ukio bankas Risk Capital Management, and Bonum Publicum. UAB Ukio bankas Leasing owns 100 percent of RAB Ukio bank lizing shares.