The assets of Mano Bank have increased by 43,55 percent in the first half of 2024

The assets of Mano Bank increased up to 311,6 million euro in the first half of this year – this number is 43,55 percent higher than in the same period last year (217 million euro). The loan portfolio increased by almost one fourth (24,55%) up to 116,4 million euro, while it was 93,4 million euro last year.

The net operating income of the bank reached 7,079 million euro and it was a little bigger than in the same period in 2023 (6,9 million euro). The non-audited profit amounted to 1,76 million euro, while it was 21,36 percent higher a year ago and amounted to 2,2 million euro.

“We consider the achieved results of the bank to be positive – despite of slow recovery of the domestic economy, we managed to increase the loan portfolio by one fourth, – says Mrs Giedrė Blazgienė, CEO of Mano Bank. – We were successfully increasing income from interest and commission; however, the high interest on deposits and investments into expansion of new services led to rapid growth of expenses, hence affecting the bank’s profit accordingly.“

According to Mrs G. Blazgienė, Mano Bank is continuing successful cooperation with the European Investment Fund. The agreement was signed in July with the Fund under the European Commission’s programme InvestEU for additional amount to guarantee loans. The agreement was made regarding the guarantees for 70 million euro in order to promote crediting of small and medium-sized enterprises (SME). According to the aforementioned agreement, 25 million euro will be allocated to SME in order to overcome the pandemic impact and to adjust to the climate changes each, while 15 million euro are intended for creative industries.

“In June, we started collecting deposits in the Netherlands after we had signed the third agreement with Raisin – the leading European platform for savings and investment products. We have noticed that when the Dutch depositors are choosing where to keep their savings, they prefer countries with high credit rating. Lithuania that has A rating and is distinguished by a firm fiscal discipline and small debt-to-GDP ratio is seen as a stable and attractive choice,” – says the CEO of Mano Bank.

Mrs G. Blazgienė notes that the Netherlands have become the third member state of the European Union (after Germany and Spain), which residents entrust their deposits to the Lithuanian Mano Bank.

In expansion of its services, Mano Bank started providing leasing services to private individuals several weeks ago, while the start of provision of such services to business was one year ago. The bank created the conditions for customers to acquire new or used cars by financing purchase of private and commercial cars from natural and legal persons.

We also inform hereby that Mano Bank will stop providing cash services from this September – the purpose is to increase the operating effectiveness focusing attention and investments to accessibility of services in the digital space. All the payment operations will continue as usual and the private customers and companies will be able to dispose of the funds held in Mano Bank by making transfers.

Mano Bank is going to pay 213,9 thousand euro of temporary bank solidarity contribution for the first half of 2024 into the state budget.