Information on Financial statements for the nine month period as at 30th of September of 2022

2022-11-23

Medicinos bankas, which has been growing its loan portfolio, earned a net profit of EUR 3.4 million in the first three quarters of this year

Marius Arlauskas, the Bank’s Head of Administration, points out that although the macroeconomic situation is not easy, the Bank’s results remain stable this year.

“The tensions caused by the energy crisis are affecting many activities, but our results remain stable. The level of net profit earned in the first nine months of this year is essentially in line with last year, and some indicators have shown a particularly strong growth rate. I would like to mention loans, the volume of which has increased tangibly in the reporting period,” says Mr. Arlauskas.

The Bank’s loan portfolio grew by 17% to EUR 247 million in the first nine months of the year. Meanwhile, net interest income increased by 4.6% (EUR 0.3 million) to EUR 8 million.

In January–September this year, compared to the first three quarters of last year, Medicinos bankas’ net fee and commission income decreased by 1% (EUR 0.04 million) to EUR 3.6 million, while the net result from foreign currency operations increased by 12% (EUR 0.4 million) to EUR 3.8 million.

Medicinos bankas’ assets amounted to EUR 412 million on 30 September, 3.5% higher than at the end of September 2021 (EUR 398 million).

The Bank’s liabilities to customers stood at EUR 336.9 million at the end of the third quarter of this year, 2.6% higher than at the same time last year (EUR 328.4 mollion). Medicinos bankas’ shareholders’ equity increased by 10.7% to EUR 46 million (EUR 42 million at the end of September last year).

Medicinos bankas which has a network of 37 territorial branches, had a total of 296 employees at the end of September.

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