SEB’s profit decreased by 2 percent this year. up to 74.2 million euros | Business

The bank’s income in the first quarter amounted to 148 million. euros – 22.5 percent. more (120.8 million euros). At that time, net interest income grew by 26.3 percent. up to 120.4 million EUR (EUR 95.3 million), the bank reported on Wednesday.

“The increasing purchasing power of the population and the increased focus of companies on investments had a positive impact on economic activity, which was also contributed to by the increased lending volume of SEB Bank. Inflation approaching zero and rising salaries increased the share of funds allocated to savings and investments,” said the bank’s manager, Sonata Gutauskaitė-Bubnelienė.

According to her, term deposits accounted for 40 percent. funds kept in the residents’ bank and 28 percent. of the entire deposit portfolio, while their investment portfolio was 24 percent at the end of March. higher than a year ago.

The bank’s total portfolio of deposits at the end of March was 11.5 billion. EUR – 5.5 percent. more than a year ago (10.9 billion euros).

The net value of SEB’s loan and leasing portfolio reached 7 billion at the end of March. EUR – 6.1 percent. more than a year ago (6.6 billion euros). The business loan portfolio reached 3.39 billion. euros.

According to the bank, a significant part of new business loans was financing of working capital, and in the first quarter, mainly companies from the manufacturing industry, renewable energy, real estate, and wholesale trade sectors borrowed.

During the quarter, the bank granted housing loans to residents for 102 million. euros.

SEB Bank’s assets at the end of March were 13.8 billion. EUR – 7 percent. more than the same time last year, equity amounted to 1.11 billion. EUR – 12 percent. more (993 million euros).

The bank announces that this year, together with the companies of the group, it paid 61.6 million to the national budget. EUR of taxes, of which EUR 9.9 million EUR – profit tax, 32.6 million. euros – solidarity contribution for the last quarter of 2023.