The loan portfolio of Mano Bank reached 94.3 million euro

The loan portfolio of Mano Bank in the 3rd quarter of 2023 reached 94.3 million euro – it is 6.85 percent more than in the same period last year. The net interest income increased by 129 percent up to 7.83 million euro, while the net income from services and commissions increased by 44 percent up to 2.61 million euro. The net profit increased by 146 percent and amounted to 3.2 million euro. The bank’s assets increased by 15.4 percent up to 224.7 million euro in a year.

“Despite slowing-down Lithuanian economics, Mano Bank managed to maintain growing portfolio. The business mood and economic activeness of residents will remain cautious in the next months; however, as we focus on performance effectiveness, we plan to continue developing business successfully,” – says Mrs Giedrė Blazgienė, CEO of Mano Bank.

Mano Bank continues its cooperation with the European Investment Fund, with which it has entered into an agreement for loan guarantees in the amount of 40 million euro. This cooperation enables crediting of small and medium-sized enterprises, including sustainable wind energy projects.

In 2023, the performance effectiveness indexes of Mano Bank have remained among the highest in the sector of Lithuanian banks. The return on assets in the 3rd quarter of 2023 amounted to 2.02 percent, while return on property – 35.78 percent.

The bank’s liabilities in the reporting period grew by 14.36 percent, and reached 211.1 million euro. The term deposits of private and business clients of the bank were growing by 7.94 percent and reached 118 million euro. At present, Mano Bank offers 4.00 percent annual interest for the deposits made for 12 months.

On 10 November 2023, upon receipt of the permit of the Bank of Lithuania, two new members joined the Board of Mano Bank – Mrs Giedrė Blazgienė, CEO of Mano Bank, and Mr Andrius Popovas, CRO. The appointment of new members has the purpose to grant the opportunity to the bank’s Board to make the necessary decision expeditiously and to reinforce supervision of risks that is our priority.

It is estimated that Mano Bank is going to pay 666.5 thousand euro of solidarity tax to the state budget for nine months of this year.

In 2023, Mano Bank has already invested 300 thousand euro into expansion and has offered several new services – instant payments, card acquiring services, and financing of the property’s acquisition by leasing.