RIGA/TALLINN - Bankas Snoras AB has been approved as a member on the Riga and Tallinn stock exchanges as of Aug 16. An existing member of the Vilnius exchange, the bank becomes the 22nd pan-Baltic member.
"By operating on the OMX Baltic stock exchanges, we will be able to provide customers with more flexible decisions, which will better satisfy their needs," said Vladimir Streckij, director of the bank's Financial Brokerage Department.
Snoras has been providing financial broking and share acquisition funding services in Vilnius since 1995. The bank also provides investment services in Russian Exchange, Lithuanian and foreign investment funds' units.
During the first six months of 2007 Bankas Snoras group earned LTL 35,2 million of non-audited net profit, an increase of 23 percent on the same period in 2006.
At the end of the first quarter of 2007 the bank had approximately 925,000 customers and had issued over 750,000 payment cards, making it one of Lithuania's larger banks.
As well as its own operations, Snoras holds 76 percent of shares in another regional banking power, Latvijas Krajbanka.
Snoras will trade on the OMX Baltic stock exchanges under the trading code SNO.
