OP Corporate Bank reported a profit of nearly 18 million euros in Lithuania for the previous year, with significant growth in income and loan portfolios, particularly in sectors like infrastructure and agriculture.
OP Corporate Bank has announced that it earned nearly 18 million euros in profit in Lithuania for the last year, reflecting a 4% increase in the bank's income, which rose to 32.8 million euros. The bank's loan and leasing portfolio grew by 21% during this period, reaching a total of 1.7 billion euros by the end of the year. This significant growth highlights the bank's expanding role in the Lithuanian financial market.
The bank's success has been particularly attributed to the increase in funding for companies in various key sectors, including infrastructure, industry and manufacturing, agriculture and food processing, as well as transport and logistics. Leda Iržikevičienė, the head of OP Corporate Bank's Lithuanian branch, stated that the growth in these sectors allowed the bank to accelerate the expansion of its loan portfolio and subsequently increase its revenue.
Moreover, the bank's net interest income also saw a rise of 6% in Lithuania, totaling 27.4 million euros in the past year. OP Corporate Bank is part of the Finnish financial group OP Pohjola, which operates both in Finland and the Baltic States, pointing to the transnational presence and impact of the bank in the regional economy.
