Based on 1H2006 results, the net audited profit of the largest foreign participant in the IFG CONVERSEBANK Group, Lithuania’s BANKAS SNORAS, and its subsidiaries and organizations, has reached 28.5 million litas ($1.0 = 2.678 litas). Of that amount, BANKAS SNORAS’s profit is 21.4m litas. Its net profit for 2005 is 40.7m litas, 200% up from 2004. In 2006, BANKAS SNORAS plans to get no less than 45m litas of net audited profit.
Latvian participant LATVIJAS KRAJBANKA, majority owned by BANKAS SNORAS, earned 1.4m lats ($1.0 = 0.539 lats). The bank’s assets rose over the year to 272.8m lats, assets under management — 2.8m lats. Over 6M2006, credits issued by LATVIJAS KRAJBANKA reached 163.6m lats, including mortgage credits — 71.4m lats. Deposits totalled 233.2m lats, total capital and reserves — 19.5m lats, paid-up fixed capital — 9.1m lats.
Source: BANKIR.RU, August 22, 2006
