Net interest income grew by 30% compared with the same period in 2021 and amounted to EUR 71 million. Net commission income also increased by 14% year-on-year and reached EUR 54 million.

Swedbank Lithuania lending volumes increased by 11% year-on-year. Household lending grew by 11%, while corporate lending increased by 12%. In total, Swedbank loan portfolio amounted to EUR 7.0 billion in the end of Q2 2022 (EUR 6.3 billion in the end of Q2 2021).

Swedbank deposit volumes increased by 4% compared to the end of Q2 2021. The increase on household deposits side was 6%, while corporate deposits stayed flat. The total deposit portfolio of Swedbank Lithuania in the end of Q2 2022 amounted to EUR 12.7 billion (EUR 12.2 billion in end of Q2 2021).

The loan-to-deposit ratio stood at 55% (52% for Q2 2021).

Total expenses amounted to EUR 72 million for the first half in 2022. The cost to income ratio for H1 2022 stood at 56% (H1 2021 ‒ 53%).

In the end of Q2 2022 impaired loans amounted to EUR 39 million, decrease by 23% year-on-year (EUR 51 million in the end of Q2 2021).

Swedbank Lithuania paid EUR 23 million in tax for the period January–June 2022.

The profit of Swedbank Lithuania for the first half of 2022 amounted to EUR 45 million, an increase of 8% compared with the same period in 2021 (EUR 42 million). The increase was mainly due to higher income.

“We saw a strong second quarter, despite prevailing geopolitical and macroeconomic uncertainties and increasing inflation. Swedbank has maintained stable market positions and actively met customer needs. Consumer spending was high and mortgage volumes continued increasing reflecting high activity in the housing sector. There was a stable demand for corporate financing, especially by enterprises operating in the sectors of transportation, manufacturing, commerce, industrial real estate and warehouse, and agriculture. Our corporate green bonds portfolio increased by 20% year-on-year to reach more than EUR 332 million, indicating growing demand for sustainable solutions. At the same time, we saw many businesses adapting to the supply chain disruptions and high inflation environment. Looking forward we are ready to accompany our clients in a financially sustainable way and we will continue cooperating in meeting their both short-term and long-term financing needs,” said Inga Skisaker, Head of Swedbank Lithuania.

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