Dabar populiaru
Published: 9 february 2012 13:09

Swedish banks positive about Lithuania's economic results

Bankai Vilniuje klientų antplūdžio ketvirtadienį nesulaukė
Juliaus Kalinsko / 15min nuotr. / Swedish banks enthusiastic about Lithuania's recovery

Swedish finance groups SEB and Swedbank welcome Lithuania's economic recovery, Prime Minister Andrius Kubilius, on a visit to Stockholm, said on Thursday.

"First of all, the banks are really glad to see Lithuania's economic recovery and view Lithuania's results as very positive. And this proves that the tough austerity policies we implemented several years ago were correct," he told the Žinių Radijas radio station.

Kubilius said that SEB and Swedbank are positive about Lithuanian business financing.

"The banks see prospects, with the economy recovering, for increasing financing to our businesses," he said.

The prime minister said that the Scandinavian banks assessed positively the government's handling of of Bank Snoras nationalization, which is now undergoing bankruptcy procedure.

"Everyone says that, so far, the Bank of Lithuania, the government, and the Seimas have dealt with the problem, that poses quite a challenge, efficiently and with sufficient transparency. What is important is that the banking system is returning to its normal state after the shock. Interest rates, interbank lending and many other things indicate this to be the case," he said.

Kubilius said the fact that, last year, Lithuanian banking system achieved profits of the pre-crisis level was not due to Snoras.

"Banks are returning to profit too. This is no longer related to Snoras in any way. Last year's data show that banking profits are returning to pre-crisis levels. This is one more sign that Lithuania has overcome the crisis and that the economy and business financing are returning to their normal conditions. I wish the eurozone problems were not giving us a headache," he said.

The prime minister said being told by Swedish investors that there were two few listed Lithuanian companies to invest in. "Financial investors would like to see more stocks listed on stock exchange," he said.

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