During nine months the non-audited profit of SNORAS totaled LTL 6,2 million.
Result:Non-audited profit of SNORAS earned in Jan-Sept has exceeded the target by 0,3 million and totalled LTL 6,2 million (LTL 5,9 million estimated).
Business management:The business management was quite efficient during the reporting period: SNORAS’ ROA exceeded the estimates and made 0.72 per cent; ROE reached 4.67 per cent (cp. 0.56 and 3.71 estimated).
The bank observed all norms and standards set by the National Bank of Lithuania: as of 01.10.2003 SNORAS’ liquidity equalled 64.03 per cent (legal min. is 30 per cent), capital adequacy – 19.97 per cent (legal min. – 10 per cent) and open position – 7.65 per cent (legal max. – 25 per cent). Besides, the bank observed the requirement on the maximum exposure to one borrower and the total amount of large loans.
Clientele: Retail banking is one of the bank priorities and in this respect SNORAS aims at enlarging its customer base. Thus, during six months it grew by 29 per cent (96,8 thousand) and today almost reaches 435 thousand private and corporate clients.
Network: As of 01.10.2003 the number of SNORAS ATMs was 268 and that of POS terminals reached 2147. The bank service network numbered ten branches located in all regional centres of Lithuania and 187 minibanks (thirteen new ones have started their operation in Vilnius and in the cities of Kaunas, Klaipeda, Seduva, Rokiskes, Visaginas, Kaisiadorys, Trakai and Juodkrante); besides, sixteen functioning minibanks were equipped with the second work place.
Assets: At the end of September SNORAS assets totalled LTL 1,188 million (a nine-month growth is 88 million or 8 per cent). During last 12 months (starting 1 October 2002) the assets have grown by almost LTL 164 million or 16 per cent.
Deposits: During the reporting period the deposits and L/C grew by LTL 138,7 million (17 per cent; cp. LTL 814,9 million as of 01.01.2003) and at the end of September reached LTL 953,6 million. The volume of deposits (both, time and demand) has changed as well: those of residents have grown by LTL 113,3 million and of non-residents - by LTL 25,4 million.
Individual deposits grew by 21.8 per cent (LTL 120,6 million) and reached LTL 674,4 million at the end of September. Mainly it was due the increase of time deposits; as of 1 October 2003 they totalled LTL 510,9 million.
Lending: As of 31 September the credit portfolio amounted LTL 442,8 million; special provisions to cover possible losses on loans made LTL 15,7 million and on other doubtful assets – LTL 4,9 million.
Payment cards: The number of bank cardholders exceeds 352 thousand individuals and corporate clients (where, almost 150 thousand were using local chip cards and over 202 thousand – international payment cards). During nine months the growth was 146 thousand. The total turnover on all cards issued by the bank made LTL 888,5 million (growth – 4 per cent; cp. nine months of 2002 – LTL 853,7 million).
Capital: During the reporting period the capital grew by LTL 6,2 million and made LTL 178,8 million. It is the third result among other Lithuanian banks.
