Ūkio bankas changes interest on time deposits

Ūkio bankas changes interest on time deposits

From 11 May 2009, Ūkio bankas set new annual interest rates on time deposits in litas, euros, US dollars and pounds sterling.
Interest on deposits in litas is decreased least. From 11 May, Ūkio bankas interest on time deposits in litas is decreased by 0.35 to 0.65 percent. Private and corporate clients placing time deposits for a 12-month and longer period will be paid the interest of 9.5 percent. For deposits placed for a 6-month term the Bank will pay 9 percent in annual interest. Private and corporate clients placing time deposits in litas for 1 to 3 months will be paid the interest of 8.75 percent.
Ūkio bankas reduced interest on time deposits in euros by 1 to 1.15 percent. Private and corporate clients placing time deposits in euros for a 12-month and longer period will be paid the interest of 7 percent. For deposits placed for a 6-month term the Bank will pay 6.5 percent in annual interest. 3-month time deposits in euros will yield 6.25 percent in annual interest.
From now on, interest on deposits in US dollars will vary in the range of 4.25 (1 to 5 months) to 5 percent (12-month and longer maturity). For deposits with 6-month maturity the Bank pays 4.5 percent in annual interest.
Like in the case of time deposits in US dollars and euros, interest on deposits in pounds sterling fell by 1 to 1.15 percent. From 11 May, interest on deposits in pounds sterling reaches from 6.25 (1-5 months) to 7 percent (12-month and longer maturity). The interest of 6.5 percent will be paid to private and corporate clients placing time deposits in pounds sterling for a 6 month period.
Time deposits placed via the internet banking system Eta bankas will yield from 0.1 to 0.2 percent higher interest: interest on 1-12 month time deposits is increased by 0.1 percent and that on 12-month and longer term deposits – 0.2 higher annual interest.
According to unaudited data, during Q1 2009 Ūkio bankas earned LTL 4.0 million in net profit, showing a 75 percent decrease compared to the same period of 2008 when its net profit amounted to LTL 16.1 million.

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