OREANDA-NEWS. March 05, 2012. According to non-audited data, in 2011 Ukio bankas Group earned LTL 1.1 million in net profit. During the fourth quarter of the year Ukio bankas Group earned LTL 969 thousand in net profit, reported the press-centre of Ukio bankas.

In the fourth quarter of 2011 Ukio bankas, too, operated profitably and earned LTL 400 in net profit. During the entire 2011, Ukio bankas earned a total of LTL 9.4 million in profit before taxes and provisions. Due to the influence of special provision and corporate income tax costs, the 2011 operational result of Ukio bankas is net losses of LTL 4.6 million.

‘During 2011, both Ukio bankas and Ukio bankas Group operated profitably. Starting from the second quarter of the year, positive activity results were achieved and have been successfully maintained and consolidated within the remaining period of 2011. As regards the last quarter of the year when the entire national banking system unexpectedly faced a serious shake-up and tension, Ukio bankas successfully responded to challenges and maintained the growth of the main activity income,’ Gintaras Ugianskis, Ukio bankas’ Chairman of the Board, said.

In the fourth quarter of 2011, Ukio bankas net interest income continued growing – this positive trend has been maintained for a seventh quarter in a row already. Last year Ukio bankas successfully distributed and registered a share issue of LTL 50 million nominal value, thus increasing its authorised capital up to LTL 346 million. The Bank continually was in compliance with the prudential requirements with considerable reserve: at the end of 2011, Ukio bankas Group’s capital adequacy ratio accounted for 14.89 %, and liquidity ratio – 41.48 %.

‘This year will also require much effort and will not be easy in the light of the current economic situation in Europe and its likely effect on the economy of our country. Nevertheless, the Bank’s gained expertise of over two decades and working experience allow us to flexibly and rapidly respond to the situation and take appropriate decisions in a timely manner,’ said G. Ugianskis.

Apart from Ukio bankas, Ukio bankas Group holds the subsidiaries Ukio banko lizingas, Ukio banko investiciju valdymas, Ukio banko rizikos kapitalo valdymas, Investicinio turto valdymas, Bonum Publicum, Turto valdymo paslaugos, Trade Project, and Eastern Europe Development Fund. UAB Ukio banko rizikos kapitalo valdymas owns a 100 per cent interest in RAB Ukio bank lizing.

Ukio bankas is Lithuania’s first commercial bank providing reliable services via its own wide client service network, with nearly 60 units all over the country, for a third decade already. Furthermore, Ukio bankas payment cards are accepted at 270 ATMs of the joint network and at 28 post offices of Lithuania.