"Urbo" Bank Profit Grows 17% in First Half

"Urbo" bank has announced a 17% rise in its net profit for the first half of 2026, reaching 13.5 million euros. This growth was driven by a significant expansion in its loan portfolio and deposit volumes.

The bank's loan portfolio expanded by 23.8% to 593 million euros as of June 30, 2026, compared to the same period in the previous year. Concurrently, deposit volumes saw a substantial increase of 17.8%, reaching 719 million euros. Net interest income also grew by 15.9% to 13.5 million euros during the same period.

Marius Arlauskas, head of "Urbo" bank's administration, noted that accelerating inflation, fueled by higher energy prices, poses the most significant negative risk to both businesses and individuals in the near future. He referenced the Lithuanian central bank's forecast of annual inflation potentially exceeding 5% in 2026, which could impact business opportunities and consumer spending.

However, Arlauskas pointed to the projected increase in average wages, expected to outpace price hikes over the next two and a half years, as a mitigating factor. The Lithuanian central bank anticipates average wages to grow by 8.7% in 2026 and by 6.9% and 7.2% in 2027 and 2028, respectively. The bank's total assets grew 17.5% year-over-year to 808 million euros by the end of the first half of 2026. "Urbo" bank employed 283 staff and operated 25 customer service branches.