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In accordance with the audited results of Medicinos bankas Group, net profit for 2012 amounted to LTL 5.17 million

According to the audited data, UAB Medicinos bankas and its subsidiaries (Group*) earned LTL 5.17 million of net profit in 2012, of which net profit of Medicinos bankas amounted to LTL 4.14 million.

According to the Chairman of Board and Head of Administration of Medicinos bankas Gintaras Treinys, 2012 was memorable and successful year for Medicinos bankas: the 20th anniversary of the Bank’s activity was commemorated and the financial year ended with a profit. “Prompt response to changes in the market, responsible assessment of business risks, expansion of the range of financial services and the customer service network effectively contributed to favourable evaluation by the clients and gained their trust,” said Mr. Treinys.

Loans and deposits


In 2012, Medicinos bankas increased the existing loan portfolio in the amount of LTL 32.18 million, and in the end of December the net loan portfolio amounted to LTL 489.01 million (at the end of 2011, the sum was LTL 456.83 million). Within the year, the Bank's loan portfolio increased by 7.04 per cent.

During the year 2012, the ratio of provisions to total loan portfolio reduced from 16.66 per cent at the beginning of the year to 16.00 per cent at the end of the year.

The amount of clients’ deposits at the end of 2012 was LTL 726.09 million (at the end of 2011, LTL 653.15 million), and fixed-term deposits amounted to LTL 547.43 million (at the end of 2011, LTL 480.99 million). Within the year, the amount of clients’ deposits increased by 11.17 percent. Amount of private depositors (resident deposits) increased by LTL 82.49 million or 17.74 per cent in the Bank within the year (from LTL 465.04 million to LTL 547.53 million).

Income and expenditure


The net service and commission income of Medicinos bankas, compared with 2011, increased by 23.57 percent, and during the year 2012 the Bank earned LTL 15.32 million of the service and commission income. Bank's income from foreign exchange transactions amounted to LTL 10.37 million compared with the year 2011, i.e. 37.72 percent more (in 2011, LTL 7.53 million respectively). However, the Bank's net income from interest decreased by LTL 6.66 million in 2012 and amounted to LTL 22.51 million at the end of the year.

Due to the intensive development of the Bank’s branch network, the Bank's annual operating expenses increased to LTL 25.21 million (in 2011, the operating expenses amounted to LTL 22.99 million). The greatest part of the operating expenses was comprised of personnel costs, which increased by 10.13 percent or LTL 1.50 million per year.

Development of the Bank


Due to the expansion of the banking network, which at the end of 2012 accounted for 99 Bank’s branches, the number of employees also increased from 487 employees at the end of 2011 to 562 employees at the end of 2012. In 2012, the Bank opened 12 new customer service units and 1 currency exchange office in Šiauliai.

Customer activity


At the end of December of 2012, the Bank was providing financial services to more than 48 thousand of individual and corporate clients (in 2011, to more than 40 thousand clients). The number of the Bank’s clients during the year 2012 increased by 20 per cent, the number of private clients increased by 22 per cent: from 35 299 to 43 075 customers.

During the year, the Bank expanded the services package for business and individual customers and continued to invest in improved electronic banking channels and services: the Bank expanded the cooperation network with online stores, installed a secure electronic signature system, made preparations for the mobile banking service which has been launched at the beginning of 2013, providing an applet for smartphones, which allows directly managing of the finances held in Medicinos bankas at any time.

Assets and standards


On 31 December, 2012, assets of Medicinos bankas amounted to LTL 889.24 million (at the end of 2011, to LTL 798.88 million), i.e. the Bank's assets increased by 11.31 per cent per year.

In 2012, Medicinos bankas complied with all the prudential requirements established by the Bank of Lithuania. On 31 December, 2012, the Bank's capital adequacy ratio amounted to 14.07 per cent (according to the fixed ratio established by the Bank of Lithuania it shall be no less than 10 per cent), liquidity ratio - 48.75 percent (according to the fixed ratio established by the Bank of Lithuania it shall be no less than 30 per cent).

*The group of subsidiaries of UAB Medicinos bankas consists of the following companies: UAB Medicinos bankas, UAB MB turtas, UAB MB valda, UAB Valturta, UAB MB investicija.


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