Some 11 banks and branches of foreign banks operated at a profit, while two market participants posted losses, the central Bank of Lithuania said on Tuesday.
Net income of the banking sector gained 10.4% to 97.2 million euros in the first quarter of 2016 year-on-year, accounting for 61.4% of all of operational income (58.8% in January-March of 2015). Net revenue from services and commission went up by 4.4% to 40.7 million euros, while the administrative costs of the banking sector dropped by 7.5% to 72 million euros over the period.
Assets of banks stood at 23.476 billion euros at the end of March, indicating increase by 0.2% from the end of 2015 and by 3.8% year-on-year. The loan portfolio, which accounts for the bulk of the assets, climbed 3.7% to 16.956 billion euros in the January-March period of 2016 year-on-year, while deposits shrank by 2.3% to 16.7 billion euros.
At the end of March, all banks operating in Lithuania complied to both the minimum total capital sufficiency requirement and the capital protection reserve requirement.
