During 2018 Q2 Luminor Lithuania has earned net profit of 15,5 million EUR, driven both by higher income and lower expenses during the period.
 
“We have put a emphasize on involving in more intense communication with our corporate and business customers, offering them unified service package and delivering additional value to their growth opportunities, driven by positive Lithuanian macroeconomic developments and increasing private consumption.
 
Our existing customers, as well as new ones, have acknowledged our developments and trusted our services. Our efforts have resulted in increased active corporate and business customer base by 4%, growing business deposits by 4 %, as well as higher lending for small and medium companies, our leasing portfolio grew by 9%. We feel that we are on right track and will continue our efforts in unifying our services, developing new products and putting more emphasize on customer relations and quality of services provided”, comment Andrius Nacajus, Country Manager of Luminor Lithuania. 
 
Luminor Lithuania Q2 2018 interim report is available here.  
 
In Q2 2018 the Luminor Group reported solid operating results and client activity across all business segments, exceeding the previous quarter’s performance. The main drivers were increased use of daily banking products and offering as well as stronger sales results and greater use of trading and hedging instruments.
 
These promising developments have been backed by favourable market conditions (with GDP growth of more than 3% in all three Baltic countries) as economic stability is high and the tailwind in customer bases is strong and showing no signs of abating.
 
“Our main challenge is to balance daily customer services against our enormous transformation agenda,” said Erkki Raasuke, Luminor Group CEO. “We’re merging six organisations in three countries, creating a new order and simplifying our work. At the same time, we’re building the foundations for our future growth and development. It’s a unique undertaking in the Baltic States in terms of its scope and complexity. I’m deeply grateful to our customers for their patience and to our colleagues for their hard work.”
 
Luminor Group Q2 2018 interim report is available here.
 
Luminor is a contemporary, new-generation bank and financial services provider in Estonia, Latvia and Lithuania with a local understanding of its home markets and customer needs. Built on the extensive experience of the two leading Nordic banks, Nordea and DNB, Luminor is the third-largest financial services provider in the Baltic region, with a market share of 16% in deposits and 23% in lending. With its customer base of 1,3 million clients and its team of 3000 professionals, Luminor aims to become a leading financial services provider for Baltic businesses and entrepreneurial people.