Awards for Excellence 2008: Lithuania
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BANKING

Awards for Excellence 2008: Lithuania

Best bank: DNB Nord Bankas  

Best bank: SEB Bank 

Best bank: Evli

DNB Nord Bankas has enjoyed another stunning year in Lithuania, with total assets increasing by 47.55% – well in advance of the growth of the broader market – giving it a market share in terms of assets of 13.2%. Loan growth was a dizzying 50.4%, with retail loans up 66.1% and corporate loans increasing by 36.4%. Deposits have not quite kept pace with loan growth but still rose 36.1%, with corporate deposits increasing by 51%.

DNB Nord Bankas’s growth has been achieved profitably. Net interest, fee and commission income rose 53.2% on 2006 levels and although expenses almost quadrupled over the year, this was largely as a result of investment in IT infrastructure and product development, which should slow in coming years and produce significant returns. Overall, profit increased 2.1 times on 2006’s figure – making it DnB Nord Bankas’ best ever year.

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