Loan portfolio of Mano Bank grew by 77% last year
2023 April 14
According to the audited data, in 2022, the loan portfolio of Mano Bank reached 89.13 million euro - 77 percent more than in 2021. Net interest income grew by 53 percent up to 5.0 million euro, while net income of services and commissions grew by 35 percent up to 2.6 million euro. The gained profit increased by 32 percent last year and amounted to 1.58 million euro. The bank’s assets increased by 84 percent up to 201.6 million euro last year.
“The growth of assets and income was induced by expansion of both main business lines of the bank – growing payment turnovers between business customers and growing loan portfolio, - tells Mrs Giedrė Blazgienė, CEO of Mano Bank. – Despite of rapid development, we still manage to maintain some of the highest efficiency indexes in the Lithuanian banking market.”
According to the data audited in 2022, the return on assets of the bank last year amounted to 1.01 percent, while return on property reached 16.36 percent.
The bank’s liabilities to the customers increased by 89 percent in 2022 and according to the data of 31 December 2022, they amounted to 188.2 million euro. The deposit accounts of the bank’s customers increased twice last year – up to 100 million euro.
It is the first bank among the specialised ones to check sustainability of financed companies
Mano Bank considers sustainability to be its business priority and thus, it pays big attention to sustainability of own activities and financing of sustainable projects. Among the specialised banks in Lithuania, it was the first to start checking sustainability before granting loans to the enterprises.
Mano Bank was the first financial institution in Lithuania that signed the portfolio guarantee agreement under the new programme “InvestEU,” where the European Investment Fund (EIF) is going to grant guarantees for loans in two directions of the programme: sustainability and bigger competitiveness of small and medium-sized enterprises.
According to the sustainability guarantees, the loans in the amount of more than 28 million euro will be granted to finance small and medium-sized business (SMB) to contribute to the green European reform. The projects that increase accessibility of services, products and infrastructure to people with disabilities may also apply for these investments. The loans of 14 million euro more will be granted under the SMB competitiveness guarantee to enterprises aggrieved because of Covid-19 pandemic that managed to stabilise their activities but need additional financing to refinance loans, to strengthen reserves of circulating capital, and to invest further into the projects under implementation.