The aggregate portfolio of the members of the Lithuanian Leasing Association stood at LTL 3.028 billion in April. Since the start of the year, the portfolio has expanded by LTL 331 million or 12.3 per cent, the association said.
Sampo Bank in Lithuania will provide free consultation to private and public companies seeking assistance from EU structural funds. The bank will help businessmen in preparing projects and documents required by the structural funds.
Latvian-controlled Parex Bankas projects a LTL 4.9 million (Ђ1.4m) profit this year, a 19 per cent drop from LTL 6 million (Ђ1.4m) last year.
In the past four years, Lithuania's leasing market has expanded at a rate of about 50 - 60 per cent annually, the national Leasing Association said.
Lithuania's Hansabankas earned a net profit of LTL 61 million last year, up 21.6 per cent from LTL 50.1 million in 2002.
Foreign direct investment (FDI) in Lithuania rose 3% in 2003 to 13.6 billion litai (LTL), according to the Lithuanian Statistics Department. FDI was LTL 13.18 billion in 2002. Foreign investment per capita rose 3.1 per cent to LTL 3,927.
Andrius Urbonas, formerly the factoring director of Hanza Lizingas, a subsidiary of Hansabankas, is appointed as CEO of Hanza Lizingas. Urbonas replaces Giedrius Dusevicius, who becomes chairman of the Hansabankas board.
The aggregate factoring portfolio of the members of the Lithuanian Leasing Association (LLA) grew by 39.1 per cent during the first nine months of this year and reached 483.8 million litas (Ђ140.232m) as at late September.
Germany's Euler Hermes Versicherungsbeteiligungen, one of the leading credit insurance companies in Europe, is set raise its shareholding in Lietuvos Draudimo Kredito Draudimas (Lithuanian Insurance's Credit Insurance) to 51 per cent.
The state-run credit insurance company Lietuvos Eksporto ir Importo Draudimas (LEID), the Lithuanian Export-Import Insurance Company, is to be sold into private hands soon, according to a report in the daily Lietuvos Rytas on Tuesday (14 October).
