Independence Posted February 29, 2012 Share Posted February 29, 2012 Newsletter According to non-audited data, in 2011 ?kio bankas Group earned LTL 1.1 million in net profit. During the fourth quarter of the year ?kio bankas Group earned LTL 969 thousand in net profit. In the fourth quarter of 2011 ?kio bankas, too, operated profitably and earned LTL 400 in net profit. During the entire 2011, ?kio bankas earned a total of LTL 9.4 million in profit before taxes and provisions. Due to the influence of special provision and corporate income tax costs, the 2011 operational result of ?kio bankas is net losses of LTL 4.6 million. ?During 2011, both ?kio bankas and ?kio bankas Group operated profitably. Starting from the second quarter of the year, positive activity results were achieved and have been successfully maintained and consolidated within the remaining period of 2011. As regards the last quarter of the year when the entire national banking system unexpectedly faced a serious shake-up and tension, ?kio bankas successfully responded to challenges and maintained the growth of the main activity income,? Gintaras Ugianskis, ?kio bankas? Chairman of the Board, said. In the fourth quarter of 2011, ?kio bankas net interest income continued growing ? this positive trend has been maintained for a seventh quarter in a row already. Last year ?kio bankas successfully distributed and registered a share issue of LTL 50 million nominal value, thus increasing its authorised capital up to LTL 346 million. The Bank continually was in compliance with the prudential requirements with considerable reserve: at the end of 2011, ?kio bankas Group?s capital adequacy ratio accounted for 14.89 %, and liquidity ratio ? 41.48 %. ?This year will also require much effort and will not be easy in the light of the current economic situation in Europe and its likely effect on the economy of our country. Nevertheless, the Bank?s gained expertise of over two decades and working experience allow us to flexibly and rapidly respond to the situation and take appropriate decisions in a timely manner,? said G. Ugianskis. Apart from ?kio bankas, ?kio bankas Group holds the subsidiaries ?kio banko lizingas, ?kio banko investicij? valdymas, ?kio banko rizikos kapitalo valdymas, Investicinio turto valdymas, Bonum Publicum, Turto valdymo paslaugos, Trade Project, and Eastern Europe Development Fund. UAB ?kio banko rizikos kapitalo valdymas owns a 100 per cent interest in RAB ?kio bank lizing. ?kio bankas is Lithuania?s first commercial bank providing reliable services via its own wide client service network, with nearly 60 units all over the country, for a third decade already. Furthermore, ?kio bankas payment cards are accepted at 270 ATMs of the joint network and at 28 post offices of Lithuania. Link to comment Share on other sites More sharing options...
jdl2002 Posted February 29, 2012 Share Posted February 29, 2012 Newsletter According to non-audited data, in 2011 ?kio bankas Group earned LTL 1.1 million in net profit. During the fourth quarter of the year ?kio bankas Group earned LTL 969 thousand in net profit. In the fourth quarter of 2011 ?kio bankas, too, operated profitably and earned LTL 400 in net profit. During the entire 2011, ?kio bankas earned a total of LTL 9.4 million in profit before taxes and provisions. Due to the influence of special provision and corporate income tax costs, the 2011 operational result of ?kio bankas is net losses of LTL 4.6 million. ?During 2011, both ?kio bankas and ?kio bankas Group operated profitably. Starting from the second quarter of the year, positive activity results were achieved and have been successfully maintained and consolidated within the remaining period of 2011. As regards the last quarter of the year when the entire national banking system unexpectedly faced a serious shake-up and tension, ?kio bankas successfully responded to challenges and maintained the growth of the main activity income,? Gintaras Ugianskis, ?kio bankas? Chairman of the Board, said. In the fourth quarter of 2011, ?kio bankas net interest income continued growing ? this positive trend has been maintained for a seventh quarter in a row already. Last year ?kio bankas successfully distributed and registered a share issue of LTL 50 million nominal value, thus increasing its authorised capital up to LTL 346 million. The Bank continually was in compliance with the prudential requirements with considerable reserve: at the end of 2011, ?kio bankas Group?s capital adequacy ratio accounted for 14.89 %, and liquidity ratio ? 41.48 %. ?This year will also require much effort and will not be easy in the light of the current economic situation in Europe and its likely effect on the economy of our country. Nevertheless, the Bank?s gained expertise of over two decades and working experience allow us to flexibly and rapidly respond to the situation and take appropriate decisions in a timely manner,? said G. Ugianskis. Apart from ?kio bankas, ?kio bankas Group holds the subsidiaries ?kio banko lizingas, ?kio banko investicij? valdymas, ?kio banko rizikos kapitalo valdymas, Investicinio turto valdymas, Bonum Publicum, Turto valdymo paslaugos, Trade Project, and Eastern Europe Development Fund. UAB ?kio banko rizikos kapitalo valdymas owns a 100 per cent interest in RAB ?kio bank lizing. ?kio bankas is Lithuania?s first commercial bank providing reliable services via its own wide client service network, with nearly 60 units all over the country, for a third decade already. Furthermore, ?kio bankas payment cards are accepted at 270 ATMs of the joint network and at 28 post offices of Lithuania. non-audited data Link to comment Share on other sites More sharing options...
Dr. Bapswent Posted February 29, 2012 Share Posted February 29, 2012 RBS - losses of over 2 billion. Link to comment Share on other sites More sharing options...
The Gasman Posted February 29, 2012 Share Posted February 29, 2012 RBS - losses of over 2 billion. ....and bonuses of nearly 1 billion. Link to comment Share on other sites More sharing options...
I.T.K Posted February 29, 2012 Share Posted February 29, 2012 Is it a coincidence that some one posts a thread about how to spend 10 million a day before UKIO reports a 10 million yearly profit! Link to comment Share on other sites More sharing options...
Ray Gin Posted February 29, 2012 Share Posted February 29, 2012 Due to the influence of special provision and corporate income tax costs, the 2011 operational result of ?kio bankas is net losses of LTL 4.6 million. Link to comment Share on other sites More sharing options...
Mysterion Posted February 29, 2012 Share Posted February 29, 2012 1.1M Lita = ?260k. 4.6M Lita = ?1.1mill Link to comment Share on other sites More sharing options...
Francis Albert Posted February 29, 2012 Share Posted February 29, 2012 Due to the influence of special provision and corporate income tax costs, the 2011 operational result of ?kio bankas is net losses of LTL 4.6 million. When will they learn that paying taxes is a mug's game? Neverheless, even on this basis, dodgy East European bank loses ?1m. RBS loses 2000 times as much. Link to comment Share on other sites More sharing options...
colinmaroon Posted February 29, 2012 Share Posted February 29, 2012 When will they learn that paying taxes is a mug's game? Neverheless, even on this basis, dodgy East European bank loses ?1m. RBS loses 2000 times as much. Hearts, Vlad's loss leader! Link to comment Share on other sites More sharing options...
Deek Posted February 29, 2012 Share Posted February 29, 2012 When will they learn that paying taxes is a mug's game? Neverheless, even on this basis, dodgy East European bank loses ?1m. RBS loses 2000 times as much. Why are we comparing banks? They operate at different levels, with different size investments and customers. Link to comment Share on other sites More sharing options...
Francis Albert Posted February 29, 2012 Share Posted February 29, 2012 Why are we comparing banks? They operate at different levels, with different size investments and customers. And one pays its taxes and one doesn't. One required an absolutely enormous, unprecedented bail out from public funds, one didn't. You are right, it's a stupid comparison. Link to comment Share on other sites More sharing options...
Deek Posted February 29, 2012 Share Posted February 29, 2012 And one pays its taxes and one doesn't. One required an absolutely enormous, unprecedented bail out from public funds, one didn't. You are right, it's a stupid comparison. Which one doesn't pay taxes? If you compared RBS with Barclay's or HSBC, that would be a genuine comparison. But to compare with a Micky Mouse Eastern European bank aint. Link to comment Share on other sites More sharing options...
Footballfirst Posted February 29, 2012 Share Posted February 29, 2012 Ukio Bankas performance doesn't affect Hearts directly any more. They don't hold any of our debt (based on our last accounts) as it has all been transferred to UBIG. However, if Ukio is deemed to be doing ok then I guess it means that there is less pressure on UBIG to pull the plug on Hearts. Link to comment Share on other sites More sharing options...
rudi Posted February 29, 2012 Share Posted February 29, 2012 Link to comment Share on other sites More sharing options...
Francis Albert Posted February 29, 2012 Share Posted February 29, 2012 Which one doesn't pay taxes? If you compared RBS with Barclay's or HSBC, that would be a genuine comparison. But to compare with a Micky Mouse Eastern European bank aint. Sorry I was thinking of Barclays' tax avoidance case, although RBS won't be paying much tax on its profits for a while. Anyway,of course I'm not making a serious comparison between any of the UK major banks and UKIO Bankas. Just making a cheap point in reaction to comments I still quite often read about dodgy foreign banks (or "Mickey Mouse" banks if you prefer), which always amuses me coming from Edinburgh, the world capital of dodgy banks (or home of the world's biggest Mickey Mouse banks if you prefer). (Just as Murray's famous "I won't be selling to any Russian" comment is pretty hilarious). Link to comment Share on other sites More sharing options...
Deek Posted February 29, 2012 Share Posted February 29, 2012 RBS won't be paying much tax on its profits for a while. Tell me about it, I have shares with them!! Link to comment Share on other sites More sharing options...
Skivingatwork Posted February 29, 2012 Share Posted February 29, 2012 Are we Ukio's tax dodge? Link to comment Share on other sites More sharing options...
The Don Posted February 29, 2012 Share Posted February 29, 2012 Does this mean we will win this weekend? Link to comment Share on other sites More sharing options...
Sydney Posted March 1, 2012 Share Posted March 1, 2012 Why are we comparing banks? They operate at different levels, with different size investments and customers. Why shouldn't they compare banks? Some people like doing that stuff. In fact some people get paid lots of money to compare different businesses. It's all about ratios... Link to comment Share on other sites More sharing options...
foghorn5 Posted March 1, 2012 Share Posted March 1, 2012 the same as contribution from old squirm to Scottish economy against Edinburgh Festival contribution? or Pars population ratio of attendees to ours or the wee teams or most fouled player against dirtiest. Just another opinion! Wonder what bonus Vlad will get? Link to comment Share on other sites More sharing options...
jambali Posted March 1, 2012 Share Posted March 1, 2012 Which one doesn't pay taxes? If you compared RBS with Barclay's or HSBC, that would be a genuine comparison. But to compare with a Micky Mouse Eastern European bank aint. Surely "mickey mouse" should have been in front of RBS??? Link to comment Share on other sites More sharing options...
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