UKIO Bankas Losses

[Clerry Jambo]

.....apparently lost 20 Million last year, I am hoping The Treasurer can give us some good news

 

UKB: AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results of year 2009

Ukio Bankas AB Notification on material event 26.02.2010

 

AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results

of year 2009

 

AB Ukio bankas group preliminary unaudited net loss of year 2009 is LTL 70.5

million (EUR 20.4 million). AB Ukio bankas preliminary unaudited net loss of

year 2009 is LTL 75.0 million (EUR 21.7 million). During 2008 AB Ukio bankas

group earned a net profit of LTL 45.7 million (EUR 13.2 million) and AB Ukio

bankas earned a net profit LTL 57.4 million (EUR 16.6 million). Main reasons

behind not reaching planned results are:

1) significantly increasing provisions against the impairment of loans and

receivables, caused by negative economic situation in Lithuania and growing

number of problem debtors;

2) decreasing net interest margin resulted low net interest income;

3) number of banking operations performed by customers was lower than planned

during economic recession.

 

 

Arnas Zalys,

Head of Finance Division

+370 37 301 440

[The Treasurer]

The banking world is not my field of expertise.

So unlike many on this board I won't comment on something I know nothing about.

 

As for some good news...

 

It's Friday !!!

[Clerry Jambo]

The banking world is not my field of expertise.

So unlike many on this board I won't comment on something I know nothing about.

 

As for some good news...

 

It's Friday !!!

 

Fair Comment

[Francis Albert]

There is a hobonomics thread over on the other side which has been running for about an hour and a half.

 

In short, we're doomed. Tick tock.

[Walter Bishop]

Give it half an hour, sirgay will get wind of this, he will explain it to the followers on weeteamfactendoff.net then peadoantic hibee will log on and confirm sirgay is correct and that we will be going into administration within days tic toc..... then they will take pictures of their knobs and send them to the underage members of their pathetic WEE board.

[Clerry Jambo]

There is a hobonomics thread over on the other side which has been running for about an hour and a half.

 

In short, we're doomed. Tick tock.

 

.......this is why I was hoping "The Treasurer" could enlighten us.

 

Where is our resident "Banker expert" on JKB anyway when you need um!

[The Treasurer]

Where is our resident "Banker

 

 

There's a few of them on here

[Clerry Jambo]

There's a few of them on here

 

[Tiberius Stinkfinger]

I know all the answers but because its "that time" on a Friday then I'm going to the boozer to get hammered.

 

After reading the those figures then suicide seems like a good option, thats all I'm saying.

[Captain Canada]

I would rather have those results than the latest RBS ones.

[Sraman]

Compared to RBS and LBG that sounds like small change.

 

If that is enough of a deficit to send them breasts skywards then I think that the losses our major players have announced in the last couple of days would be enough to sink the whole country never mind one football team.

[WeeToonJambo]

Compared to the losses made by RBS and Lloyds Banking Group, 20,000,000 is chicken feed. I know they are bigger banks but, given the state of the world economy I don't think it's too bad. Oh, I better mention, my qualifications for commenting on this are "O" Levels in Maths and Arithmetic from 1964!

[Clerry Jambo]

Compared to the losses made by RBS and Lloyds Banking Group, 20,000,000 is chicken feed. I know they are bigger banks but, given the state of the world economy I don't think it's too bad. Oh, I better mention, my qualifications for commenting on this are "O" Levels in Maths and Arithmetic from 1964!

 

That's guid enough for me

[frankblack]

.....apparently lost 20 Million last year, I am hoping The Treasurer can give us some good news

 

UKB: AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results of year 2009

Ukio Bankas AB Notification on material event 26.02.2010

 

AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results

of year 2009

 

AB Ukio bankas group preliminary unaudited net loss of year 2009 is LTL 70.5

million (EUR 20.4 million). AB Ukio bankas preliminary unaudited net loss of

year 2009 is LTL 75.0 million (EUR 21.7 million). During 2008 AB Ukio bankas

group earned a net profit of LTL 45.7 million (EUR 13.2 million) and AB Ukio

bankas earned a net profit LTL 57.4 million (EUR 16.6 million). Main reasons

behind not reaching planned results are:

1) significantly increasing provisions against the impairment of loans and

receivables, caused by negative economic situation in Lithuania and growing

number of problem debtors;

2) decreasing net interest margin resulted low net interest income;

3) number of banking operations performed by customers was lower than planned

during economic recession.

 

 

Arnas Zalys,

Head of Finance Division

+370 37 301 440

 

Yet another trolling thread started by you. Why don't you post on Hibs.Net as I'm sure your pals over there will love it.

 

Since you won't pay your money into Hearts, I really don't think your opinion on any Hearts related topics is relevant.

[Nucky Thompson]

The OP seems rather pleased with himself

[vodka-shark]

shock horror a bank made a loss last year!!

[PTBCAL]

To what extent is VR still involved in UKIO BANKAS? Did he dilute his shareholding a year or two ago?

 

I am sure it is UBIG (of which UKIO Bankas are part of) that bankroll Hearts.

[Cut The Crap]

Presumably it's not a real loss because they owe it all to themselves. Or something.

[colinmaroon]

To what extent is VR still involved in UKIO BANKAS? Did he dilute his shareholding a year or two ago?

 

I am sure it is UBIG (of which UKIO Bankas are part of) that bankroll Hearts.

 

 

 

 

Correct!!!

 

 

 

 

 

 

............

[Worthing Jambo]

I know all the answers but because its "that time" on a Friday then I'm going to the boozer to get hammered.

 

After reading the those figures then suicide seems like a good option, thats all I'm saying.

 

 

Suicide?

Follow the Northern Star to redemption my friend!

[Clerry Jambo]

To what extent is VR still involved in UKIO BANKAS? Did he dilute his shareholding a year or two ago?

 

I am sure it is UBIG (of which UKIO Bankas are part of) that bankroll Hearts.

 

I think you are spot on mate

 

So are you saying it doesn't really matter how Ukio Bankas perform in relation to Hearts?

[PresidentRomanov]

I think Clerry jambo is a Hibby

[Disco Dave]

From the UBIG website "UAB ?kio banko investicin? grup? (?BIG) is a management company of diversified holdings which operates in the property development, banking, aluminium, mining, logistics, textiles, sports, financial intermediary and other sectors."

 

How many times does this come up....... UKIO BANKAS DO NOT OWN HEARTS - UKIO Bankas is a part of UBIG. Heart of Midlothian FC are a part UBIG. Do you think the people who hold bank accounts with UKIO Bankas were creaming their pants when we report huge losses? Whilst it isn't great for UBIG if UKIO Bankas post a loss, its not the be all and end all (for us) that some folk seem to think.

 

 

 

 

 

 

............

[PresidentRomanov]

From the UBIG website "UAB ?kio banko investicin? grup? (?BIG) is a management company of diversified holdings which operates in the property development, banking, aluminium, mining, logistics, textiles, sports, financial intermediary and other sectors."

 

How many times does this come up....... UKIO BANKAS DO NOT OWN HEARTS - UKIO Bankas is a part of UBIG. Heart of Midlothian FC are a part UBIG. Do you think the people who hold bank accounts with UKIO Bankas were creaming their pants when we report huge losses? Whilst it isn't great for UBIG if UKIO Bankas post a loss, its not the be all and end all (for us) that some folk seem to think.

 

 

 

 

 

 

............

 

Don't spoil Clerry Hibbies fun, he thinks Hearts are going to the wall because of this

[Walter Bishop]

.....apparently lost 20 Million last year, I am hoping The Treasurer can give us some good news

 

UKB: AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results of year 2009

Ukio Bankas AB Notification on material event 26.02.2010

 

AB Ukio bankas group and AB Ukio bankas preliminary unaudited activity results

of year 2009

 

AB Ukio bankas group preliminary unaudited net loss of year 2009 is LTL 70.5

million (EUR 20.4 million). AB Ukio bankas preliminary unaudited net loss of

year 2009 is LTL 75.0 million (EUR 21.7 million). During 2008 AB Ukio bankas

group earned a net profit of LTL 45.7 million (EUR 13.2 million) and AB Ukio

bankas earned a net profit LTL 57.4 million (EUR 16.6 million). Main reasons

behind not reaching planned results are:

1) significantly increasing provisions against the impairment of loans and

receivables, caused by negative economic situation in Lithuania and growing

number of problem debtors;

2) decreasing net interest margin resulted low net interest income;

3) number of banking operations performed by customers was lower than planned

during economic recession.

 

 

Arnas Zalys,

Head of Finance Division

+370 37 301 440

 

 

What has this got to do with us? Our shirt sponsors have mad a 20 million loss! woopty doo!!!!

[Walter Bishop]

I think Clerry jambo is a Hibby

 

Clerry Jambo posted this about 5 mins after Sirgay had posted on alwaysinourshadow.net....... mmmmmm i wonder!!!

[The Old Tolbooth]

To what extent is VR still involved in UKIO BANKAS? Did he dilute his shareholding a year or two ago?

 

I am sure it is UBIG (of which UKIO Bankas are part of) that bankroll Hearts.

Ah, but because Ukio are a bank everyone automatically assumes that it is them who are bankrolling Hearts, when in fact your right when you say its UBIG.

 

Its convenient for UBIG to say the debt is owed to Ukio Bankas so the interest payments can be paid to them, but at the end of the day its how UBIG as a group are doing that we should be concerned about, and not one of their arms.

[Francis Albert]

No banking expert but a quick bit of Googling suggests Ukios Bankas's loss represents about 10% of it's market capitalization. Not good. But each of RBS and Lloyds TSB (incorporating of course our old banker HBOS) losses in 2009 represented about 20% of their respective market caps (and unlike Ukios on top of even bigger losses the previous year). Ukios Bankas has also been able to get by without injections of funds from the Lithuanian or any other taxpayers.

 

Just in case Clerry Jambo is really worried. And in anticipation of large Scotsman headlines about Vlad's dodgy bank in massive losses.

[Miller Jambo 60]

There is a hobonomics thread over on the other side which has been running for about an hour and a half.

 

In short, we're doomed. Tick tock.

 

 

Weve been doomed for years according to they muppets, boring boring, 108 years FACT FACT FACT.

 

Soon be 109.

[ring-of-fire]

The only repercussion that this may have for us is, worse case scenario, that they may not be able to afford to sponsor our strips next year. Old Vlad hasnt done that badly from this recession, especially seeing that UBIG owns a bank and a football club!

[Jam Tarts 1874]

To what extent is VR still involved in UKIO BANKAS? Did he dilute his shareholding a year or two ago?

 

I am sure it is UBIG (of which UKIO Bankas are part of) that bankroll Hearts.

 

 

As at 31.7.08. the date of the last year end published, Romanov held just under 33% of UKIO Bankas. However as I remember his family - his mother in particular held enough shares to take the Romanov family stake to over 50% and therefore have the controlling interest.

[Miller Jambo 60]

I know all the answers but because its "that time" on a Friday then I'm going to the boozer to get hammered.

 

After reading the those figures then suicide seems like a good option, thats all I'm saying.

 

 

Was in a good mood till i opened this thread, mr doom and gloom from clerry, drive ye tae drink that man.

[Effervesance]

I don't know much about banking and couldn't really give a flying one. If Sir Gay thinks this will catapult us quicker towards our impending doom then it must be true.

 

What a bollocks story.

 

IMO.

[Geoff Kilpatrick]

No banking expert but a quick bit of Googling suggests Ukios Bankas's loss represents about 10% of it's market capitalization. Not good. But each of RBS and Lloyds TSB (incorporating of course our old banker HBOS) losses in 2009 represented about 20% of their respective market caps (and unlike Ukios on top of even bigger losses the previous year). Ukios Bankas has also been able to get by without injections of funds from the Lithuanian or any other taxpayers.

 

Just in case Clerry Jambo is really worried. And in anticipation of large Scotsman headlines about Vlad's dodgy bank in massive losses.

 

 

Good summary. To be honest, it has amazed me until now that Ukio hasn't made a loss - Lithuania has experienced a recession where over a fifth of economic output disappeared. They have actually weathered things particularly well.

[Munch]

hmm not a lot in the grand scheme of things considering there is a global recession on.

 

http://news.bbc.co.uk/1/hi/business/8538080.stm

 

this lot are doing slightly worse.

[ToadKiller Dog]

I wonder what sort of return Romanov is getting for his gold mine interests ? .

[Munch]

What has this got to do with us? Our shirt sponsors have mad a 20 million loss! woopty doo!!!!

 

 

 

 

 

 

 

Our shirt sponsors wait till you see what happens to there shirt sponsors if they finish higher than 4th and get to the cup final, pop goes the weasel, you will hear the bang in Gorgie.

[tinydancer]

HOBO

 

FTH

[inspector]

I got to the last thread and thought I'd managed to keep up with the admin bits. Cigaro will give a hearty hndshake if anyone can try to explain our predicament.

I have no idea what is going on with regard to Hearts finances

 

All I want to do is turn up on a Saturday and support my team..................is it too much to ask

[wavydavy]

There's a few of them on here

 

 

You did say Banker?

[JAYEL]

HOBO

 

FTH

 

 

 

 

This/b]

 

 

 

Sirgay

 

 

 

.

[Martin_T]

As Geoff mentioned earlier, Ukio Bankas performance, in the face of a severe economic recession that has been particularly severe in the Baltic states, continues to be extraodinary. This loss could have been a hell of a lot worse.

[Coco]

As Geoff mentioned earlier, Ukio Bankas performance, in the face of a severe economic recession that has been particularly severe in the Baltic states, continues to be extraodinary. This loss could have been a hell of a lot worse.

 

It could be quite early in the process. It usually takes time for bad debts to hit the balance sheets of banks (ie after recession ends). Particularly when there has been such rapid growth in lending in developing economies as in cases like Ukio Bankas.

 

The reduction in net interest margin suggests that their wholesale funding costs might been rising to compensate for the risk involved in lending to Ukio/emerging market.

 

If these sorts of losses continue or expand then a rescue equity issue or a large reduction in lending could be necessary at Ukio. Part of that will likely be UBIG assuming that ?17m chunk of Hearts debt previously talked about. It might be that some of the new loss is a writedown on some of that debt (if UBIG are paying a % for it).

[Dot Cotton]

I wonder what date for our impending doom will Sirgay and Pedantic Hibee come up with next on hobotramps.net to begin the all new countdown to our demise?

 

11 Feb 2010 was supposed to be our date of death according to Sirgay.

 

 

We must be ghosts then.

[Miller Jambo 60]

I wonder what date for our impending doom will Sirgay and Pedantic Hibee come up with next on hobotramps.net to begin the all new countdown to our demise?

 

11 Feb 2010 was supposed to be our date of death according to Sirgay.

 

 

We must be ghosts then.

 

 

They should be worrying more about their bubble bursting down fester road, going back to their old rubbish.

[Dot Cotton]

They should be worrying more about their bubble bursting down fester road, going back to their old rubbish.

 

 

Quite right Doug, but you know their mentality - more interested in the goings on at Tynie then Fester Rd.

 

Makes you wonder why they dont just support us if they are that interested in Hearts than their own team?

[Geoff Kilpatrick]

It could be quite early in the process. It usually takes time for bad debts to hit the balance sheets of banks (ie after recession ends). Particularly when there has been such rapid growth in lending in developing economies as in cases like Ukio Bankas.

 

The reduction in net interest margin suggests that their wholesale funding costs might been rising to compensate for the risk involved in lending to Ukio/emerging market.

 

If these sorts of losses continue or expand then a rescue equity issue or a large reduction in lending could be necessary at Ukio. Part of that will likely be UBIG assuming that ?17m chunk of Hearts debt previously talked about. It might be that some of the new loss is a writedown on some of that debt (if UBIG are paying a % for it).

 

 

It will really depend on what Ukio's main lending markets are in the Baltic. Property is a disaster, for example (and things would be a lot worse in the UK banks had the property correction that needs to take place had taken place by now).

[Nucky Thompson]

I wonder what date for our impending doom will Sirgay and Pedantic Hibee come up with next on hobotramps.net to begin the all new countdown to our demise?

 

11 Feb 2010 was supposed to be our date of death according to Sirgay.

 

 

We must be ghosts then.

According to that plum 'the yams will be in adminustrayshun in 2 days' that was in February 2008.

[Miller Jambo 60]

According to that plum 'the yams will be in adminustrayshun in 2 days' that was in February 2008.

 

 

The hibee chip on the shoulder, will never die, jealousy eats at the soul.

[Cardiac Rucksack]

Honestly, the tramps over there cant be so thick. He has been prophesising(sp) our impending doom for 2 years. Even they must see he has serious issues.