Thu, 21 Oct 1999: Lithuania’s banks make passing marks…



Vilniaus Bankas, Lithuania's largest commercial bank, netted a 53.6 million litas non-audited profit. The country's other banks also had reason to smile. Eduardas Vilkelis, head of the Lithuanian Commercial Bankers Association, said that the state's financial woes and the country's sluggish macroeconomic situation are not helping the banking sector. But he added that banks will still do reasonably well. "Well, banks didn't pull in a huge profit, but they made a profit all the same," said Vilkelis. "By year's end, I don't expect any dramatic swings for the worse or the better."Eugenija Martinaityte, director of the Banking, Insurance and Finance Institute made similar comments."All figures by all the banks show more profit than in the previo... Read the rest of this entry »

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