Correction

Šiaulių Bankas Group results for 3Q 2020 - Seite 2

Even though economic uncertainty hampered corporate investment and development projects, the Bank was active in the corporate financing market - more than EUR 200 million of new credit agreements were signed in 9 months of this year. Corporate loan portfolio stood at EUR 1.08 billion at the end of the 3Q (2% less than at the end of the 2Q).

The Bank's total loan and leasing portfolio decreased by 1% during the 3Q to EUR 1.74 billion.

In 3Q, the Bank continued intensively working to set up a EUR 200 million renovation fund with the European Investment Bank (EIB). The terms of the operational agreement between the Bank and the EIB are being finalized, and active negotiations are under way with the potential creditors and investors in the fund's equity. The Bank plans to launch the renovation fund from the beginning of 2021.

As of end of 3Q, due to COVID-19 deferrals for loan repayments amounted to EUR 228 million (13% of the total loan portfolio). The largest part of loan deferrals is made for legal entities - EUR 217 million, the remaining part of EUR 11 million - for individuals. Most clients plan to return to the usual loan repayment schedules, and only a small number are likely to apply for additional restructuring.

Daily Banking

After the end of nationwide lockdown, clients kept actively using banking services again - in the 3Q of this year, net fee and commission income increased by 22% compared to the second quarter to EUR 4.3 million.

In 3Q, more than 7 thousand new private customers and more than 500 business customers started using the Bank's services. Over the year, the portfolio of service plans used by private clients increased by 16% and the yearly change of corporate clients stands at 7% (48% of private and 55% of business clients have already subscribed to service plans).

The number of payment cards increased by 11% (to 172 thousand) compared to the same period last year (the number of card payments increased by 25% YoY). The demand for cash also increased slightly, with the number of cash withdrawal transactions increasing by 6% compared to the same period last year.

Customer service units located in the most affected cities by COVID-19 are subject to early registration of customers for the visit. If necessary, the Bank is ready to expand the network of book in advance for visit service units. However, for the convenience of customers, the Bank maintains all the service units operating at their normal business hours with all protective measures.