Saulius Karosas, the principal shareholder of Medicinos Bankas, increased the capital base of the bank by EUR 2 million. These funds will be used to meet the additional risk management requirements that have taken effect as a consequence of the integration of the Fourth Capital Requirements Regulation and Directive into Lithuanian national law.
“As the positive results of the first quarter demonstrate, the team has successfully managed to stabilise the bank's activity. Nevertheless, additional capital is necessary as a tool for reducing risk. Besides, the integration of the Fourth Capital Requirements Regulation and Directive has simply made this process an inevitability,” explained Gintaras Treinys, chairman of the board at Medicinos Bankas.
Thus far, the year has been a profitable one for the bank, with its unaudited net profit in the first three months of 2015 amounting to 293 thousand euros (last year, a total EUR 242 thousand was earned during this same period).
Compared to the end of the first quarter in 2014, the client base of Medicinos Bankas has grown by 13%, almost reaching a total of 65 thousand clients. The assets of the bank currently amount to EUR 245.78 million.