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Profits balloon for Lithuania central bank

  • 2011-01-31
  • TBT Staff

VILNIUS - Lithuania's central bank has reported that profits more than doubled in the fourth quarter of 2010.

Profits at the end of last year reached 92 million litas, up from 44.4 million litas in the previous quarter.

The year 2010 was much more successful for Lithuania’s banks than the year 2009. Although the volumes of the banks’ activities continued to decline last year, the drop in the amount of loans extended to the customers was 2-3 times smaller compared with the previous year, and the increase in customers’ deposits was larger,”Bank of Lithuania governor Reinoldijus Sarkinas said in a press statement.