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2010-10-28 08:00:00 CEST 2010-10-28 08:00:05 CEST REGULATED INFORMATION DnB NORD Bankas AB - Notification on material eventPreliminary unaudited result for the first nine months of 2010With Lithuania's economy stabilizing and signs of recovery seen on the country's credit market in the third quarter of the year, according to preliminary un-audited data AB DnB NORD Bankas, company code 112029270, VAT payer code LT120292716, registered office at J. Basanavičiaus St. 26, Vilnius, the data is collected and stored at the Register of Legal Entities, earned a pre-tax operating profit before provisions of LTL 110.3 million (EUR 31.9 million) during the first nine months of 2010. The economic downturn continued to affect the quality of the loan portfolio and the Bank pursued further a conservative customer risk valuation approach setting aside LTL 47.7 million (EUR 13.8 million) in provisions in the third quarter of the year alone, the amount was more than four times lower compared to the first two quarters of 2010. As a result, the pre-tax loss of AB DnB NORD Bankas amounted to LTL 137.5 million (EUR 39.8 million) in the first nine months of 2010, down 53.9 percent year-on-year. During the first nine months of 2009, AB DnB NORD Bankas made, LTL 490.8 million ( EUR 142.1 million)in provisions and recorded a pre-tax loss of LTL 298.1 million (EUR 86.3 million). AB DnB NORD Bankas results are calculated in accordance to International Financial Accounting Standards. Andrius Vilkancas Press Officer tel. +370 5 239 3413 |
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