Medicinos Bankas had a profitable first quarter with a net profit of EUR 0.84 million
Medicinos Bankas ended January–March this year in profit, according to unaudited data. In the first quarter, the Bank generated a net profit of EUR 0.84 million, or 30% less than in the same period last year, when the net profit was EUR 1.2 million. Net service fee and commission income increased by 8.6% (EUR 0.1 million) to EUR 1.2 million, and net income from trade in foreign currency increased by almost 11% (EUR 0.1 million) and reached EUR 0.9 million. “Certainly, the war in Ukraine has shaken consumers and businesses, adjusting their expectations and prompting them to rethink their consumption and financial needs, but in the first quarter of this year we managed to moderately improve our key performance indicators,” says Dalia Klišauskienė, Head of Administration of Medicinos Bankas. In the first quarter of this year, net interest income of Medicinos Bankas increased by 7.9% (EUR 0.2 million) and reached EUR 2.4 million. The Bank’s loan portfolio grew by 5.8% to EUR 223 million in January–March. The Bank’s assets at the end of the first quarter of 2022 amounted to EUR 404 million and were 6.2% higher than on 31 March a year earlier (EUR 381 million). At the end of the first quarter, liabilities of Medicinos Bankas to its customers amounted to EUR 334 million and were 3.3% higher than at the same time last year. The Bank’s shareholders’ equity increased by almost 11% to EUR 44 million (EUR 39 million at the end of March last year). At the end of March this year, customer service network of the Bank consisted of 41 territorial divisions with 296 employees. For more information, please contact: Aleksejus Tonkich, Member of the Board, Director of Financial Service, Deputy Head of Administration, tel. +370 698 34055, email: aleksejus.tonkich@medbank.lt
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