Bank profits drop, deposits rise

  • 2013-03-06
  • From wire reports
VILNIUS - Over the past year, the assets of banks operating in the country and branches of foreign banks decreased, the portfolio of granted loans and the sum of deposits increased, but profits were down by a little more than a third, the Bank of Lithuania says, reports ELTA.“The drop in profits was determined by two factors. With the prevalence of low interest rates, the interest income received by banks decreased, while the deterioration of the standing of some borrowers and loan evaluation had the banks forming additional reserves to cover possible losses,” says Vitas...
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