Fifty-one credit unions ended the year in the back, with a combined profit of 3.2 million euros, and 32 credit unions posted losses, at 3.8 million euros in total. The losses were mostly due to asset impairment costs and provisions, the central bank said.
Credit unions' aggregate assets grew by 9% over the year to reach 672.56 million euros in late December. This accounted for 2.9% of the banking system's total assets, up from 2.7% a year earlier.
Their loan portfolio, which makes up the most significant part of the assets, increased by 18.4 million euros, or 7%, to 281.939 million euros.
Deposits last year remained the major financing source for credit unions. Their deposit portfolio rose by 9.7 over the year to 586.797 million euros, of which private individual deposits accounted for 97%.
Seventy-four credit unions operated in Lithuania at the end of 2015. They had a total of 157,510 members.
