Swedbank earned EUR 175mn net profit in H1

Swedbank Lithuania generated EUR 410 million comprehensive income in the first half of 2024. The bank’s net interest income amounted to EUR 328 million and net commission income was EUR 62 million. Swedbank’s net profit in the first half of this year amounted to EUR 175 million.

In Q2 2024, compared with Q2 2023, the lending volume of Swedbank Lithuania increased by 13%.

According to the bank, its loan portfolio stood at EUR 9 billion at the end of Q2 2024. Corporate financing portfolio grew by 27% to EUR 3.6 billion, while residential financing portfolio rose by 6% to EUR 5.4 billion. Green business loan portfolio reached EUR 742 million at the end of Q2 2024 and, compared with the identical period of 2023, this financing volume increased by 175%.

At the end of Q2 2024, Swedbank Lithuania’s overall deposit portfolio amounted to EUR 15.3 billion, a 11% increase year-on-year. Corporate client deposit portfolio rose by 21% to EUR 5.2 billion. Residential client deposit portfolio rose by 6% to EUR 10.1 billion.

The loan-to-deposit ratio at the end of Q2 2024 reached 59%. Bad loan portfolio at the end of Q2 2024 was EUR 47 million.