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February 07, 2016 5:17 PM ET

Banks

Company Overview of "Swedbank", AB

Company Overview

Swedbank, AB provides a range of banking services to private individuals and companies in Lithuania. It offers services for private customers comprising payment cards; electronic banking services; lending and leasing products, such as home and consumer loans, and leasing services; and financial derivative services. The company also provides services for corporate customers, such as loan and leasing products comprising investment loans and working capital loans; management of free funds; electronic banking services; E-commerce services; payment cards; financial risk management services consisting of management of exchange rate and interest rate fluctuation risks, and other financial derivativ...

Konstitucijos Av. 20A

Vilnius,  03502

Lithuania

Founded in 1999

2,212 Employees

Phone:

370 5 268 4444

Fax:

370 5 258 2700

Key Executives for "Swedbank", AB

Chief Executive Officer and President
Age: 52
Deputy Chairperson of Board and Chief Financial Officer
Chief Executive Officer of Swedbank Group
Age: 66
Chairwoman of the Supervisory Council and Head of Baltic Banking
Age: 59
Deputy Chairman of Management Board, Deputy Head of Administration and Head of Credit & Operational Risk Lithuania
Compensation as of Fiscal Year 2015.

"Swedbank", AB Key Developments

Swedbank Lithuania Reports Earnings Results for the Full Year of 2015

Swedbank Lithuania reported earnings results for the full year of 2015. For the period, the company reported net profit amounted to EUR 85 million, a decrease of 21% year-on-year compared to EUR 108 million in 2014. The decrease was mainly due to lower income as well as credit impairments. Total income decreased by EUR 26 million and amounted to EUR 184 million. During the year net interest income decreased by 12% due to pressure from low market interest rates. In total, net interest income amounted to EUR 97 million in 2015.

Swedbank Lithuania Announces Earnings Results for the Nine Months of 2015

Swedbank Lithuania announced earnings results for the nine months of 2015. For the period, the company's profit amounted to EUR 59 million, a decrease of 30% from EUR 84 million compared with the same period in 2014. The decrease was mainly due to lower income as well as credit impairments. Total income amounted to EUR 134 million, representing a decrease of 15% year-on-year. Net interest income decreased by 16% compared with the nine-month period in 2014 and amounted to EUR 70 million. The decrease was mainly due to low market interest rates.

Swedbank Lithuania Announces Earnings Results for the First Six Months of 2015

Swedbank Lithuania announced earnings results for the first six months of 2015. For the six months, the company’s profit for the first six months of 2015 amounted to EUR 36.2 million against EUR 56.4 million in the first six months of 2014. The decrease was mainly due to external factors, low interest rates and effects related to euro introduction. Net commissions decreased by 1% compared with the first half-year 2014. Higher customer activity increased commissions related to cards, asset management and lending. Revenues and costs net interest income decreased by 13% compared with the first half-year 2014. Low market interest rates pressured deposit margins.

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