The Lithuanian banking industry’s profit fell 43.2 percent in the first quarter from last year because of increased provisions.
Banks in the Baltic nation had a combined profit of 144.6 million litai ($42 million), the central bank in Vilnius said in an e-mailed statement today. Credit portfolios shrank 0.6 percent in the first quarter, it said.
Lenders returned to profit last year following two years of losses. The economy expanded a preliminary 3.9 percent in the first quarter.
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