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2009-02-21 09:00:58 CET 2009-02-21 09:02:04 CET REGULATED INFORMATION Ukio Bankas AB - Notification on material eventAB Ukio bankas and AB Ukio bankas group preliminary unaudited net profit of year 2008AB Ukio bankas preliminary unaudited net profit of year 2008 is LTL 57.4 million (EUR 16.6 million) - i.e. 30.6% less than in year 2007, when a net profit of LTL 82.7 million (EUR 24.0 million) was earned and 37.3% less than planned (LTL 91.5 million, or EUR 26.5 million). Main reasons behind not reaching planned profit are: i) higher than planned provisions against the impairment of loans and receivables, caused by changes in Lithuanian economics; ii) number of banking operations performed by customers was lower than planned; iii) levels of interest earning assets were lower than planned; iv) cost of borrowing increased more than was planned; v) result of trading activities was lower than planned. AB Ukio bankas group preliminary unaudited net profit of year 2008 is LTL 48.0 million (EUR 13.9 million) - i.e. 37.9% less than in year 2007, when a net profit of LTL 77.4 million (EUR 22.4 million) was earned. Arnas Zalys, Head of Finance and Risk Management Department +370 686 74 000 |
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