OREANDA-NEWS.  November 02, 2012. In the first nine months of 2012, Danske Bankas banking operations, including leasing services provided by the bank’s subsidiary UAB Danske Lizingas, generated pre-tax profit of LTL 103 million. Pre-tax profit in the first three quarters of the past year amounted to LTL 50 million, reported the press-centre of Danske Bankas. 

Operating profit before tax of Danske Bank A/S Lithuania Branch was LTL 96 million in the first three quarters of 2012. In the same period last year, it was LTL 50 million.

‘The results of the first three quarters of this year are in line with our expectations and show that we have been able to maintain our efficiency. Good performance results are the outcome of consistent work with customers and a focus on providing the best financial solutions’, Gintautas Galvanauskas, general manager of Danske Bankas, says.

According to Mr Galvanauskas, although this year was far more challenging for the Lithuanian economy, the analysts of Danske Bankas predict that the country’s economy will grow 2.7 % this year and that the well-diversified export structure will prevent a sharp slowdown in growth. ‘Given these macroeconomic forecasts, we plan to maintain similar performance indicators of the bank in the final quarter of the year’, Danske Bank’s general manager says.

Income from banking activities in the first three quarters totalled LTL 79 million and was LTL 3 million higher than that in the same period last year. Operating expenses remained the same as they were in the first nine months of last year and reached LTL 45 million. The cost/income ratio for the first three quarters of 2012 was equal to 57.0 %.

The deposit portfolio of Danske Bankas, compared with the same period last year, fell 12 % and the loan portfolio dropped 6 %. The deposit/loan ratio on 30 September 2012 was 69 %.

On 31 August 2012, the share of Danske Bankas in the loan market amounted to 6.9 %.