Banks operating in Lithuania earned 515 million euros in combined profits in the first half of this year, 2.5 times more than in the same period last year (203 million), the central Bank of Lithuania reported on Thursday.The banking sector continued to enjoy unusually high profitability amid high interest rates set by the European Central Bank.Lithuania has introduced a “solidarity levy” to tax away some of the commercial banks’ windfall profits. They have already paid in the first instalment of the tax, 56 million euros.Commercial banks’ combined assets rose 13.3 percent to 56.75 billion euros over a year.Current deposits shrank in line with rising interest rates, while fixed-term deposits increased, and the loan portfolio was boosted by loans to Lithuanian households.Net interest income tripled to 1.1 billion euros and has been growing for the past three consecutive quarters.In late June, banks had 46.698 billion euros in deposits, up 17.4 percent from the year before. Household deposits amounted to 29.387 billion euros, up 17.7 percent.The combined loan portfolio was valued at 26.573 billion euros in late June, 9.8 percent more than at the same period last year. (ICE VARSAVIA)

Fonte notizia: Central Bank of Lithuania / BNS