Vilniaus Bankas still leads in Lithuania

  • 2003-07-17
  • Baltic News Service

Euromoney, the influential London-based magazine covering capital, equity and money markets, has named Vilniaus Bankas the best commercial bank in Lithuania for the fourth consecutive year.
The award of the best brokerage company went to Suprema, the leading Vilnius-based brokerage firm, while the investment banking company Prime Investment was named the best merger and acquisitions adviser.
Zabolis Ir Partneriai got the award for best local partner.
Euromoney published its 2003 global and country-specific lists of the best banks, business consulting companies and investment firms on July 10.
The magazine pointed out that Vilniaus Bankas, owned by the Swedish financial group SEB, is Lithuania's largest bank, with a market share of approximately 40 percent in assets, loans and deposits.
The bank reported a 9 percent decline in net profit over the first six months of 2003 on July 10, shrinking from 63.9 million litas (18.5 million euros) to 58.1 million litas.
Euromoney said that Prime Investment earned the award based on its involvement in the successful completion of six merger and acquisitions deals last year. The company offered its consulting services to the Klaipeda company Limarko in a 59 million lita deal, resulting in the privatization of the Klaipeda fleet Klaipedos Transporto Laivynas, as well as to the top Lithuanian IT company Alna.
Zabolis Ir Partneriai boasted perfect results since its establishment last September, Euromoney wrote. The company was the only adviser to the Lithuanian diversified retailer Senukai in a deal on divestment of the majority holding (over 50 percent) in the company to Finnish Kesko.