"Hansabank" Group profit growth was conditioned by increased scope of activities and efficiency
2005-02-11 Back
"Hansabankas", which belongs to the largest financial group in the Baltic States, in 2004 earned LTL 111,1 million net consolidated profit - LTL 50,2 million or about 82,3 per cent more compared with the respective period of the last year, when its generated profit stood at LTL 60,9 million.
During 2004, "Hansabankas" loan portfolio increased by LTL 1,9 billion or by 53,4 per cent and was LTL 5,4 billion at the year-end. Private clients' portfolio grew even by 82,1 per cent (LTL 598 million) reaching LTL 1,3 billion. Business loans' portfolio went up by 36,6 per cent (LTL 633 million) and amounted to LTL 2,4 billion. "Hansabank" Group factoring portfolio increased by 47,1 per cent (LTL 112 million) and stood at LTL 350 million. Lease portfolio grew by LTL 540 million accounting for LTL 1,4 billion by the year-end.
Amount of deposits held with "Hansabankas" went up by LTL 1,0 billion or 23,1 per cent up to LTL 5,3 billion during the year.
Loan market share occupied by "Hansabankas" accounted for 22,2 per cent by the year end. The share managed by "Hansabankas" in the market of loans to individuals was the largest - 29,0 per cent. In the end of 2004, "Hansabankas" managed 30,5 per cent of deposit market, and the largest share - even 39,2 per cent - of the market of deposits of individual clients.
"Positive financial results were mostly conditioned by increased scope of "Hansabankas" Group activities and quite high efficiency attained in 2004. We consistently kept investing into the improvement of servicing quality, analysed the needs of clients and tried to offer innovative products, also implementing the concept of "all financial services in one place" throughout our branch network - which enabled us to attract clients and significantly extend the scope of our activities. Moreover, we paid particular attention to operating efficiency and therefore we were able to make better use of our growth effects", - said Giedrius Dusevičius, "Hansabankas" Board Chairman.
"In addition, one of the paramount competitive advantages in the modern financial market is professional and loyal staff. Last year we were particularly concerned about this", - said G.Dusevičius. According to him, in 2004 about LTL 1 million was allocated for staff training purposes, "Hansabankas" improved its system of wages, started implementing the system of talent management as well as motivation measures covering not only financial compensation which depends upon performance, but also other incentives. In 2005 further investments are envisaged into staff training and administration of personnel.
"Our goal is to become, by the year 2007, the exemplary financial group in Lithuania occupying leading positions in all main spheres of activity", - asserted G.Dusevičius.
By the end of 2004, consolidated equity of shareholders of "Hansabankas" amounted to LTL 625,8 million. The annual growth of consolidated equity of shareholders was LTL 161,1 million or 34,7 per cent.
In 2004 return on equity of "Hansabankas" was 20,3 per cent.
During 2004, "Hansabankas" acquired shares of "Baltijos autolizingas" and "Hansa draudimo brokeris". "Hansabankas" Group was also joined by the Company "Hansa gyvybės draudimas" acquired at the beginning of the year. At present "Hansabankas" in Lithuania comprises "Hanza lizingas", "Hansa gyvybės draudimas", "Hansa investicijų valdymas", "Baltijos autolizingas" and "Hansa draudimo brokeris".
"Hansabankas" belongs to the largest Group of financial services in the Baltic States whose strategic investor is Swedish "Swedbank".
