At the end of 2024, Swedbank’s net interest income and net commission income were EUR 639 million and 129 million respectively.

Last year, the bank paid EUR 141 million as the solidarity levy, a windfall tax on excess profits. The sum was highest in the market, according to Swedbank. In total, Swedbank paid EUR 273 million in taxes to Lithuania’s state budget last year.

"Lithuania is the regional leader by investment growth in renewable energy and energy efficiency, with our bank’s portfolio of green loans to businesses alone growing almost threefold last year to around EUR 1.3 billion at the end of the year. Consumer expectations remain at record highs, interest rates are falling, export orders are recovering – all of that is setting the stage for rapid growth in Lithuania’s economy, investments and loan portfolio," Head of Swedbank Lithuania Inga Skisaker said.

In 2024, Swedbank Lithuania earned a net profit of EUR 361 million, stable as compared with 2023. The rapidly growing loan portfolio and increasing customer activity helped maintain profitability levels in an environment of the falling key interest rates, the bank commented.

The bank’s overall loan portfolio in Lithuania stood at EUR 9.7 billion at the end of 2024, a rise by 13% from the year before.

The corporate loan portfolio increased by 21% compared with 2023 and amounted to nearly EUR 4 billion at the end of the year.

Over the year, loans to the public increased by 8% to EUR 5.7 billion. This is explained by improved housing affordability and increased consumer lending needs, the bank said.

Swedbank’s deposit portfolio was EUR 16.5 billion at the end of 2024, up by 9% from 2023.

The loan-to-deposit ratio at the end of 2024 stood at 59%. Bad loan portfolio amounted to 0.5% of the total loan portfolio at the end of 2024, stable as in 2023.

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