Assets and liabilities of Lithuanian credit unions grow in 2012

The amount of deposits accepted by credit unions hiked by almost 30% – to 1.8 billion litas, and their loan portfolio increased by more than 20% – to 1.1 billion litas. With the ongoing strong development of the sector, there should be particular focus on risk management. While credit unions almost tripled their specific provisions against bad loans last year, in the assessment of individual institutions there still are signs that the possibilities for loan repayment are estimated with insufficient conservativeness, the Bank of Lithuania said in a statement, writes LETA.... Read more...