S. Demiray, Head of European Merchant Bank. Photo of Judita Grigelyts (V).
in 2023 European Merchant Bank (EMBank) recorded record growth in Lithuania. Compared to 2022, the bank’s net profit has increased more than three times, and the number of clients and the average number of customers has also grown.
in 2023 EMBank’s net profit grew more than three times, from 0.312 million EUR 2022 up to 1.1 million Eur last year.
Palkan’s net income more than doubled, from 1.4 mln. EUR up to 3.4 million Eur.
Bank assets in 2023 increased by 29%, from 115 million EUR up to 148 million Eur.
The general income of the bank increased one and a half times, from 7.2 million. EUR up to 10.8 million. Eur.
The loan portfolio for business clients increased by 50%, from 24 million. EUR up to 36 million ?ur. Indli’s portfolio grew by almost a third, from 102 million. EUR up to 134 million Eur.
The consistent growth of the loan portfolio shows the trust of small and medium businesses in the bank and its services. By signing new guarantee programs, EMBank aims to increase the loan portfolio to 75 million Eur. Based on the long-term 2023 results, the goal is to double the value of the bank’s assets in the next few years, Sarpas Demiray, CEO of EMBank, is quoted in the announcement.
According to S. Demiray, one of the reasons for choosing a business is the 3% salary paid to the bank if there is a balance in the bank account.
We pay a lot of attention to the convenience of services, such as API sets, mobile platforms. This year, we plan to introduce new innovative solutions, further improve the functionality of our API solution EMBank Connect and launch at least two new financing products, the manager says.
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