Correction

Šiaulių Bankas Group results for 3Q 2020 - Seite 3

During the 3Q, the new BETA version of the on-line banking was introduced to customers, and at the end of October, customers started using the new mobile app.

Saving and Investing

The deposit portfolio increased by 12% since the beginning of the year and stood at EUR 2.27 billion at the end of 3Q. Demand deposits increased by 24% or EUR 269 million, while the term deposit portfolio decreased by EUR 30 million. The loan-to-deposit ratio at the end of 3Q stood at 76% (81% for 3Q 2019). While having high liquidity buffers and in order to lower funding costs, interest rates on term deposits have been reduced from 4Q.

Updated key performance indicators for 2020

In relation to the milder than estimated impact of the COVID-19 pandemic on the business environment and development of Lithuania's economy, the Bank updated financial forecasts for this year in September.  According to the updated forecasts, the Group’s cost of risk ratio (CoR) will not exceed 0.8%, and the annual return on equity (ROE) will be around 12%. The cost to income ratio (C/I), non-performing exposure ratio (NPE), risk management, market share and customer satisfaction goals remain the same as set in the beginning of the 2020.

Šiaulių bankas invites shareholders, investors, analysts and other stakeholders to join its investor conference webinar scheduled on November 10^th, 2020 at 4:00 PM (GMT + 2). The presentation will be held in English. For more information click here.

* - forecasts

Additional information:
Head of Finance and Risk Management Division
Donatas Savickas [phone], [e-mail]

Attachment

• 2020-3q_eng