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"ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-470": { "value": "-824130000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-471": { "value": "63287000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-472": { "value": "6840000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-473": { "value": "8375000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-474": { "value": "39719000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-475": { "value": "32159000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-476": { "value": "30122000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-477": { "value": "13387000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-478": { "value": "597307000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-479": { "value": "375000000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-480": { "value": "20000000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-481": { "value": "210000000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-482": { "value": "1899000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-483": { "value": "1039000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-484": { "value": "498727000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-485": { "value": "110040000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-486": { "value": "-5079000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-487": { "value": "-356363000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-488": { "value": "395136000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-489": { "value": "751499000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-490": { "value": "390057000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-491": { "value": "395136000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-1": { "value": "GENERAL INFORMATION AB Artea Bankas was registered as a public company in the Enterprise Register of the Republic of Lithuania on 4 February 1992. The Bank is licensed by the Bank of Lithuania to perform all banking operations provided for in the Law on Banks of the Republic of Lithuania and the Charter of the Bank. In this document Artea AB is referred to as the Bank, Artea AB and its subsidiaries - the Group. On May 5, 2025, the bank changed its name from AB \u0160iauli\u0173 bankas to AB Artea bank. The brand update reflects the strategic direction and goal of becoming the leading bank in Lithuania by 2029. The Bank accepts deposits, issues loans, makes money transfers and documentary settlements, exchanges currencies for its clients, issues and processes debit and credit cards, is engaged in trade finance and is investing and trading in securities, as well as performs other activities set forth in the Law on Banks of the Republic of Lithuania and the Charter of the Bank. Subsidiary companies of the Group perform consumer financing, life insurance and real estate management activities. The Head Office of the Bank is located in \u0160iauliai, Til\u017e\u0117s str. 149, LT-76348. The Bank\u2019s shares are listed on the Baltic Main List of the NASDAQ Vilnius Stock Exchange. As of 31 December 2025, as well as of 31 December 2024, the Bank owned the following directly controlled subsidiaries:
1. Artea Life Insurance, UAB (life insurance activities),
2. Artea Lizingas, UAB (consumer financing activities),
3. Artea Turto Fondas, UAB (real estate management activities),
4. Artea Asset Management, UAB (fund management activities),
5. Pakeitimo vertybiniais popieriais Artea Retrofit Fund 1, UAB (multi-apartment renovation financing)*,
6. Pakeitimo vertybiniais popieriais Artea Retrofit Fund 2, UAB (multi-apartment renovation financing)*.
*not consolidated under IFRS 10 requirements", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-492": { "value": "AB Artea Bankas", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-536": { "value": " Republic of Lithuania ", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-496": { "value": "Lithuania", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-497": { "value": "Lithuania", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-495": { "value": " AB", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-498": { "value": "Artea AB", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-500": { "value": "On May 5, 2025, the bank changed its name from AB \u0160iauli\u0173 bankas to AB Artea bank.", "dimensions": { "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-493": { "value": "\u0160iauliai, Til\u017e\u0117s str. 149, LT-76348", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-499": { "value": "The Bank accepts deposits, issues loans, makes money transfers and documentary settlements, exchanges currencies for its clients, issues and processes debit and credit cards, is engaged in trade finance and is investing and trading in securities, as well as performs other activities set forth in the Law on Banks of the Republic of Lithuania and the Charter of the Bank", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-494": { "value": "
1. Artea Life Insurance, UAB (life insurance activities),
2. Artea Lizingas, UAB (consumer financing activities),
3. Artea Turto Fondas, UAB (real estate management activities),
4. Artea Asset Management, UAB (fund management activities),
5. Pakeitimo vertybiniais popieriais Artea Retrofit Fund 1, UAB (multi-apartment renovation financing)*,
6. Pakeitimo vertybiniais popieriais Artea Retrofit Fund 2, UAB (multi-apartment renovation financing)*.
NOTE 14
INVESTMENTS IN SUBSIDIARIES
Carrying amount
Share in
31 December 2025
Net carrying
31 December 2024
Net carrying
Bank
equity
Gross amount
Impairment
amount
Gross amount
Impairment
amount
Investments in consolidated directly controlled
subsidiaries:
Artea Life Insurance UAB
100.00
%
44,102
-
44,102
37,910
-
37,910
Artea lizingas UAB
100.00
%
12,358
-
12,358
3,106
-
3,106
Artea Asset Management UAB
100.00
%
39,492
-
39,492
37,458
-
37,458
Artea turto fondas UAB
100.00
%
707
-
707
5,325
-
5,325
Total investments in subsidiaries using equity
96,659
96,659
83,799
-
83,799
method
Investment in non-consolidated subsidiaries
Pakeitimo vertybiniais popieriais Artea
100.00
%
170
-
170
170
-
170
Retrofit Fund 1 UAB
Pakeitimo vertybiniais popieriais Artea
100.00
%
100
-
100
100
100
Retrofit Fund 2 UAB
Total investments in subsidiaries at fair value
270
-
270
270
-
270
Total investments in subsidiaries
96,929
-
96,929
84,069
-
84,069
Reconciliation of Bank\u2019s investment in subsidiary amounts is presented in the table below:
2025
2024
Net book value at 1 January
84,069
76,672
Share of the profit or loss of investments in subsidiaries accounted for using the equity method
17,748
7,227
Establishment of subsidiary
-
100
Dividends paid by the subsidiaries
(722)
-
Increase (decrease) of share capital in subsidiaries in cash
(4,166)
70
Net book value at 31 December
96,929
84,069
The Group consists of the Bank and its subsidiaries listed above in this note. All of the
entities comprising the Group operate in Lithuania, except for Artea Life Insurance,
UAB which operates in Latvia and Estonia through branches.
Special purpose entity - securitisation
On April 5, 2022, the Bank established a special purpose entity \u2013 \u201ePakeitimo
vertybiniais popieriais Artea Retrofit Fund 1 UAB\u201d and on February 21, 2024, a second
special purpose entity \u2013 \u201ePakeitimo vertybiniais popieriais Artea Retrofit Fund 2 UAB\u201d
(hereinafter collectively referred to as the Retrofit Funds). The purpose of establishing
both special purpose entities, the Retrofit Funds, is to manage financing funds for
multi-apartment building renovation projects, which lend the attracted funds from
commercial and institutional investors to energy efficiency improvement projects for
multi-apartment buildings in Lithuania. As the leading financier of multi-apartment
building renovations in the country, the Bank is the founder of the Retrofit Funds and
the administrator of renovation loans, while the Retrofit Funds act as legal managers.
The Bank earns revenue from its participation in this activity through administration
fees for loans (claims) transferred to the Retrofit Funds, as well as interest income
from loans granted to the Retrofit Funds. According to agreements with investors and
the provisions of IFRS 10, the Bank does not have control over the Retrofit Funds;
therefore, these entities are not consolidated in the Group's consolidated financial
statements.
Changes in Group structure
Following strategy to optimize Group's structure in 2024 subsidiary of the Bank \u0160iauli\u0173
banko lizingas UAB was liquidated.
Impairment assessment of investments in subsidiaries
As of 31 December 2025 and 2024, the Bank assessed its subsidiary Artea Life
Insurance UAB for impairment using the embedded value approach. No impairment
was identified. The embedded value comprises the value of in-force business and free
capital, with cash flows discounted at 7.07% (2025) and 9.40% (2024). A 2% inflation
rate was assumed throughout the forecast. Sensitivity analysis using a 2 percentage
points higher discount rate also showed no impairment.
As at 31 December 2025, the Bank assessed whether there were any indicators of
impairment in respect of its investment in Artea Asset Management UAB accounted
for using the equity method.
During 2025, amendments to the Lithuanian Pillar II pension legislation were enacted
allowing participants, during the period 2026\u20132027, to withdraw up to 25% of their
accumulated pension assets if they remain in the system, or the full amount if they
choose to exit. Management assessed that these legislative changes constitute an
indicator of potential impairment under IAS 36, as the reform may result in a reduction
of assets under management (AUM) and related management fee income.
Accordingly, the Bank performed an impairment test of the entire carrying amount of
the investment. The recoverable amount was determined based on value in use,
calculated by discounting the Company\u2019s share of the future cash flows expected to
be derived from the continuing operations of Artea Asset Management UAB.
The cash flow projections were based on management-approved forecasts reflecting
expected fee income, cost development and long-term business growth. The
projections incorporate the assumption that approximately 32% of Pillar II pension
assets will be withdrawn during 2026\u20132027 as a result of the legislative reform. This
assumption was developed with reference to experience in comparable jurisdictions,
particularly Estonia, where following the 2021 pension reform approximately 30% of
participants exited the Pillar II system.
Cash flows beyond the explicit forecast period were extrapolated using a long-term
growth rate of 2%. The projected cash flows were discounted using a pre-tax discount
rate of 10.1% (2024: 13%), reflecting current market assessments of the time value of
money and the risks specific to the investment.
Based on the impairment test performed, the recoverable amount exceeded the
carrying amount of the investment as at 31 December 2025 and therefore no
impairment loss was recognised.
No impairment triggers were identified for other subsidiaries.
Sensitivity analyses of investment in subsidiary
Given that the carrying amount of the investment in Artea Asset Management UAB is
sensitive to reductions in assets under management, management performed
sensitivity analyses to reflect uncertainty arising from the Lithuanian II pillar pension
reform effective from 2026. The reform introduces a two-year window during which
participants may, under certain conditions, withdraw accumulated pension savings.
Such withdrawals may result in a reduction of assets under management and related
management fee income, thereby affecting the recoverable amount of the investment.
To assess the potential impact on the recoverable amount, management modelled
alternative Pillar II asset outflow scenarios of 25%, 32% (base case) and 44% during
2026\u20132027. The outflow assumptions were developed with reference to historical
experience in other jurisdictions where similar pension system reforms were
implemented and comparable withdrawal behaviour was observed.
In addition, discount rates of 9.6%, 10.1% (base case) and 10.6% were applied to
reflect potential variability in market conditions and risk assessments.
The sensitivity analyses demonstrated that no impairment of the investment would
arise under the 25%, 32% or 44% outflow scenarios across all discount rates tested..
Based on the impairment test performed and the related sensitivity analyses,
management concluded that no impairment of the investment in Artea Asset
Management UAB existed as at 31 December 2025.
The table below presents the net present value (NPV) of Artea Asset Management
UAB under the scenarios described above.
Discount rate \\ AUM
25%
32%
44%
leaving Pillar II
9.60%
67,182
63,111
56,314
10.10%
65,320
61.472
55,046
10.60%
63.652
60,001
53.908
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-2": { "value": "ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of these financial statements are set out below. Basis of accounting The financial statements of the Group and the Bank have been prepared in accordance with IFRS Accounting standarts as adopted by the EU. The financial statements have been prepared under the historical cost convention as modified for the fair value of financial assets and liabilities at fair value through profit or loss and investment securities at fair value through other comprehensive income. The preparation of financial statements in conformity with IFRS Accounting Standarts require the use of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management\u2019s best knowledge of current event and actions, actual results ultimately may differ from those estimates. These financial statements combine the consolidated financial statements for the Group and separate financial statements of the Bank. Such format of reporting was adopted to ensure consistency of presentation with the format prescribed by the Bank of Lithuania and applied for statutory reporting. Neither the Bank\u2019s shareholders, nor any other party have power to amend the financial statements after issue. According to local legislation, the financial statements are subject to approval in the general meeting of shareholders, but the approval/disapproval cannot result in amendment of the financial statements. Amounts shown in these financial statements are presented in the national currency the euro (EUR), which is the Bank\u2019s and Group\u2018s functional and presentation currency. Amendments to existing standards and interpretations effective in 2025 A number of new standards are effective from 1 January 2025 but they do not have a material effect on the Group\u2019s financial statements: \u2022 Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) \u2022 Lack of Exchangeability (Amendments to IAS 21). Standards and amendments to existing standards that are not yet effective and have not been early adopted by the Group and the Bank A number of new standards and amendments are effective for annual periods beginning on 1 January 2026 and after. Earlier application is permitted for certain standards; however, the Group and the Bank has not early adopted any of the new or amended standards in preparing these financial statements. The following new and amended standards are not expected to have a significant impact on the Group\u2019s and the Bank\u2019s financial statements: \u2022 Presentation and Disclosure in Financial Statements (Amendments to IFRS 18); \u2022 Subsidiaries without Public Accountability: Disclosures (IFRS 19); Although the Group\u2019s and the Bank\u2019s statement of profit or loss is already largely aligned with the presentation requirements introduced by IFRS 18, the standard is expected to result in additional disclosure requirements in the notes to the financial statements, including disclosures related to management-defined performance measures. Consolidation of subsidiaries Subsidiaries Subsidiaries are entities controlled by the Group, where control exists through exposure or rights to variable returns and the ability to influence those returns. They are fully consolidated from the date control is obtained and deconsolidated when control is lost. Transactions with non-controlling interests that do not result in a loss of control are treated as equity transactions, with any differences recorded in equity. Gains or losses on disposals to non-controlling interests are also recognised in equity. The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquiree on an acquisition- by acquisition basis, either at fair value or at the non-controlling interest\u2019s proportionate share of the recognized amounts of acquiree\u2019s identifiable net assets. Intercompany Transactions All intercompany transactions, balances, and unrealised gains or losses are eliminated unless indicative of impairment. Subsidiaries\u2019 accounting policies are aligned with those of the Group. Equity Method in Stand-Alone Financial Statements In the Bank\u2019s stand-alone financial statements, subsidiaries are accounted for using the equity method. Investments are initially recognised at cost and adjusted for post- acquisition changes in net assets. The Bank\u2019s share of profits or losses is included in the income statement; dividends reduce the carrying amount of the investment but are not recognised in income. Business combinations Business combinations are accounted for using the acquisition method in accordance with IFRS 3. Identifiable assets acquired and liabilities assumed are recognised at fair value at the acquisition date and goodwill is recognised for the excess of consideration over the net identifiable assets acquired. Fair value measurement involves significant judgement and estimation, and changes in assumptions could affect the amounts recognized. Further information regarding goodwill and funds rights is provided in Note 15. Associates The Group\u2019s share of post-acquisition profits or losses of associates is recognised in the income statement, and its share of other comprehensive income is reflected accordingly. Losses exceeding the Group\u2019s interest are not recognised unless obligations have been assumed. Foreign currency translation a) Functional and presentation currency Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in the euro, which is the Bank\u2019s functional and presentation currency. Euro also is functional and presentation currency of all the subsidiaries of the Bank included in the consolidated financial statements. b) Transactions and balances All monetary assets and liabilities denominated in foreign currencies are translated into the euro (EUR) at the official daily euro foreign exchange reference rates (published by the European Central Bank) prevailing at the end of the reporting period. Gains and losses arising from this translation are included in the income statement for the reporting period. All non-monetary liabilities and assets are translated using the exchange rate prevailing on the date of acquisition. Foreign currency transactions are recorded in the euro using the exchange rate ruling on the date of the transaction. Exchange differences arising from the settlement of transactions denominated in foreign currency are charged to the income statement at the time of transaction using the exchange rate ruling at that date. Off-setting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously. Recognition of income and expenses Interest income and expense are recognised in the income statement on debt instruments at amortized cost or at fair value through other comprehensive income on an accrual basis using the effective interest method based on the actual purchase price. The effective interest method is a method of calculating the amortised cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset or financial liability. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument (for example, prepayment options). The calculation includes all fees and points paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts. Loan origination fees are accounted for as an adjustment to the effective interest rate calculation for each issued loan separately. Other commission fees and other similar income and expenses are recognised as gained or incurred. For financial assets interest income is calculated by applying the effective interest rate to the gross carrying amount, except for financial assets that are credit-impaired (Stage 3), for which interest income is calculated by applying the effective interest rate to the net carrying amount (i.e. gross carrying amount reduced by the allowance for impairment), and purchased or originated credit-impaired (POCI) assets, for which the credit-adjusted effective interest rate is applied to the amortized cost of the financial asset. Revenues from contracts with customers consist primarily of service-related fees and are reported as Commission income, including fees for settlement services, service plans, cash operations, cards, account servicing fees, services related to securities, funds management fees, collection of utility and similar payments and others. The revenues reflect the consideration which is expected to be received in exchange for those services or transactions. The recognition in Income statement depends on whether the Group's obligations are provided. Revenue from such services is recognised over time on a straight-line basis when the services are provided to the customer. Revenue related to transactions is recognised at a point in time when the transaction takes place. Fee income for settlement services, cash operations, documentary collection, collection of utility and similar payments, services related to securities, funds distribution and other is recognised at a point in time when the Group satisfies its performance obligation upon execution of the specified transaction. Insurance income and expense recognition is disclosed under Accounting principles section Insurance and investment contracts classification and accounting. For distribution of second and third-tier pension funds Group uses services of external intermediaries, for whom a commission fee is paid for conclusion of the contract. The Group considers commissions paid to intermediaries for the conclusion of contracts for new pension fund participants as the costs of concluding contracts with clients and capitalizes and amortizes them over the average expected period of the new client's retention as a client of the Group - 10 years. Capitalized amounts of commission fees to intermediaries are recognized in the statement of financial position in the part of fixed assets. Revenue from other activities of the Group comprise sale of apartments or other developed real estate projects. This revenue is recognized at a point of time upon transfer of completed property to client. Share-based payment Employees whose professional activities and/or decisions may have a significant impact on the level of risk assumed by the Group are awarded deferred variable remuneration. The grant-date fair value of share-based payment awards granted to employees is recognised in the statement of profit or loss as salaries and related expenses, with a corresponding amount recognised within other equity in the statement of financial position. Obligations to settle contracts with equity instruments are recognised as equity-settled share-based payments. For the purpose of accounting for employee benefits, the Group recognises share-based payment arrangements as salaries and related expenses in the statement of profit or loss, with a corresponding increase in other equity in the statement of financial position. The expense recognised is adjusted to reflect the number of equity instruments expected to vest based on service and non- market performance conditions (i.e., conditions not directly linked to changes in the market price of the shares). Any deviations from the initially granted number of equity instruments arising from modifications to the original terms and conditions are recognised in the statement of profit or loss, with a corresponding adjustment recognised in other equity in the statement of financial position.. Taxation Income tax Income tax consists of current and deferred income tax. Both are calculated and recognized in accordance with the Income Tax Law of the Republic of Lithuania in force on the date of preparation of the financial statements. Income tax assets for the reporting period and income tax liabilities for the reporting period and previous periods are measured at the amount expected to be recovered from or paid to the tax administrator. Current income tax The Bank's taxable profit exceeding EUR 2 million is subject to a 21% income tax rate for 2025. The Bank additionally pays a 5% supplementary bank tax calculated on taxable profit in accordance with applicable laws. Subsidiaries apply a 16% income tax rate as set out in the Income Tax Law of the Republic of Lithuania. From January 1, 2026, the Bank will be subject to a 17% income tax rate. At the same time, the 5% additional bank tax remains in place, resulting in a total tax burden of 22% on the Bank's taxable profit. From 2026, the Group's subsidiaries will be subject to a 17% income tax rate. Deferred income tax Deferred income tax is calculated using the liability method for all temporary differences arising between the carrying amounts of assets and liabilities and their tax bases. Deferred income tax is measured using tax rates that are enacted at the balance sheet date and will apply when the temporary differences are reversed. Given that from 2026 the Bank's taxable profit will be subject to a 17% income tax and a 5% additional bank tax, the Bank's deferred income tax assets and liabilities as at 31 December 2025 are calculated using a rate of 22%, provided that it is probable that the related temporary differences will be reversed from 1 January 2026. The deferred income tax of subsidiaries as at 31 December 2025 is calculated using a 17% income tax rate. The main temporary differences arise from the revaluation of securities, differences between the carrying amount of tangible fixed assets and their tax base, and accumulated costs. Deferred income tax is calculated using rates that have been enacted or substantively enacted by the balance sheet date. However, deferred income tax is not recognized if it arises from the initial recognition of an asset or liability in a transaction (other than a business combination) that, at the time of the transaction, affects neither accounting profit nor taxable profit (loss). Contribution tax The Lithuanian bank solidarity tax is a 60% tax rate applied to the excess net interest income of Lithuanian credit institutions. It is effective from May 16, 2023, until the second quarter of 2026. It is calculated on the portion of income that exceeds the average net interest income of the previous four years by more than 50%. Artea did not pay this tax in 2024\u20132025. Cash and cash equivalents For the purposes of the cash flow statement, cash and cash equivalents comprise balances with less than three months\u2019 maturity from the date of acquisition, including cash and non-restricted balances with the Bank of Lithuania, treasury bills and other eligible bills, amounts due from banks and financial institutions and short-term government securities. Financial assets Financial assets are classified into 3 categories: \u2022 financial assets at fair value through profit and loss (the Group and the Bank have debt and equity securities which are included to trading book, and equity securities which are included to investment securities portfolio), \u2022 financial assets at fair value through other comprehensive income (the Group and the Bank have only debt securities of this category, these are included to Investment securities portfolio) and \u2022 financial assets at amortized cost. Financial assets are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. The classification is based on the cash flow characteristics of the asset and the Group\u2019s business model for managing the asset. Financial assets at fair value through profit or loss Trading book (trading sub-portfolio) includes debt securities which were acquired either for generating a profit from short-term fluctuations in price or dealer\u2019s margin. Trading book (other assets sub-portfolio) includes debt and equity assets of the subsidiary involved in life insurance activities. These assets are managed on behalf of customers and were designated at fair value through profit or loss in order to significantly reduce the accounting mismatch between these securities and unit-linked provisions. Investment portfolio includes non-trading (investment) equities that were acquired for generating a profit in longer term fluctuations or in line with other purposes with the Group (e.g. to have participation in entities that provide services to the group, or other). Securities at fair value through profit or loss are initially recognised at fair value, which is based on transaction price and are subsequently measured at fair value based on quoted bid prices or derived from a discounted cash flow model if market price is unreliable measure. All related realised and unrealised gains and losses are included in net trading income. Interest earned is reported as interest income. Dividends received are included in dividend income. The instruments are derecognised when the rights to receive cash flows have expired or the Group has transferred substantially all the risks and rewards of ownership and the transfer qualifies for derecognising. All purchases and sales of securities at fair value through profit or loss that require delivery within the time frame established by regulation or market convention (\u2018regular way\u2019 purchases and sales) are recognised at settlement date, which is the date when payment is made for assets purchased or sold. All other purchases and sales are recognised as derivative forward transactions until settlement. Changes in the asset's fair value between the trade date and the settlement date are recognized as trading gains/losses in the income statement. Financial assets at fair value through other comprehensive income Debt securities that are held for collection of contractual cash flows and for selling them, where the assets\u2019 cash flows represent solely payments of principal and interest, and that are not designated at fair value through profit or loss, are measured at fair value through other comprehensive income. Movements in the carrying amount are taken through other comprehensive income, except for recognition of impairment gains or losses, interest income and foreign exchange gains or losses on the financial instrument\u2019s amortised cost which are recognized in profit or loss. When the debt asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss and recognized in Net gain (loss) in operations from securities. Interest income from these financial assets is included in Interest income using the effective interest rate method. The Group did not designate any equities at fair value through other comprehensive income. Financial assets at amortized cost Loans to customers and finance lease receivables that are the main strategic direction of Group's business and debt securities that are held for collecting cash flows in line with prescribed business model to generate long-term yield and to serve as secondary liquidity reserves constitute the major part of Group's assets and are attributable to financial assets at amortized cost (as well as other qualifying assets such as cash equivalents, due from banks, other financial assets). These assets may be sold, but sales (other than sales low in volume or sales as part of problem debt recovery activities) are rare and infrequent. Financial assets at amortized cost are non- derivative financial assets that pass the \u201cSolely payments of principal and interest\u201d (SPPI) test other than: (a) those that the bank classifies as fair value through profit or loss due to intention for short-term sale or reduction of accounting mismatch; (b) those that the bank upon initial recognition designates at fair value through other comprehensive income; or (c) those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration. In the case of impairment, the impairment loss is reported as a deduction from the carrying value of the asset and recognised in the income statement as \u2018Allowance for impairment losses\u2019. Financial assets at amortized cost are derecognized when the contractual rights to receive the cash flow from the assets expire, or the assets are written-off, or the Group has transferred substantially all the risks and rewards of ownership and the transfer qualifies for derecognising. Purchased or originated credit-impaired (POCI) financial assets Purchased or originated credit-impaired (POCI) financial assets are initially recognised at fair value, reflecting the impact of expected credit losses at the date of acquisition. The accounting treatment for these loans under IFRS 9 differs from that of performing loans, with impairment recognised based on the expected credit losses from the point of acquisition. Interest income is calculated using a credit-adjusted effective interest rate that takes into account expected credit losses. Impairment of financial assets The Group assesses on a forward-looking basis the expected credit losses (ECL) associated with its debt instrument assets carried at amortized cost and fair value through other comprehensive income and with exposure arising from loan commitments and financial guarantee contracts. The Group recognizes a loss allowance for such losses at each reporting date. The measurement of ECL reflects an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes, the time value of money and reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic condition. Section 1.3 of the Financial risk management disclosure provides more details on the ECL measurement. Derecognition of financial assets The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of risks and rewards of ownership and it does not retain control of the financial asset. On derecognition of a financial asset the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability assumed) and any cumulative gain or loss that had been recognised in other comprehensive income is recognised in profit or loss. Write-offs of financial assets Loans and receivables are regularly reviewed and written-off from the balance sheet when the total loan balance or a part of it is considered as uncollectible under the most optimistic scenario using expert judgement on each exposure. Typically, the judgement that there is no reasonable expectation for recovery is applied for the exposures where there are no clear indications of possible cash flows from the borrower and to the extent that the collateral is deemed insufficient. 100% impairment provision against the carrying amount of the exposure must be recognized before an uncollectible exposure (or part of it that is considered to be uncollectible) can be written-off. Written-off exposures are accounted for as off-balance sheet claims (\u201caccumulated write-offs\u201d) until the legal right to claim the amounts from the borrower expires. Modifications of financial assets The Group sometimes modifies the payment terms of loans to customers due to commercial renegotiations, or for distressed loans, with a view to maximising recovery. Modification practices are based on criteria which, in the judgement of management, indicate that payment will most likely continue. Legal treatment for loan contract amendments is followed, i.e. amended loan contracts are accounted for as modifications - i.e. date of signing the original contract remains the point for loan parameters at origination used to assess significant increase of credit risk. On modification, the gross carrying amount of the loan is recalculated as the present value of the modified contractual cash flows that are discounted at the loan\u2019s original effective interest rate. The resulting modification gain or loss is included in other income line in the income statement. The modification of loan contract does not automatically impact its credit stage assignment if it done on a commercial negotiations basis or according to public or sectoral moratoria, but the loans subject to modification are checked if it is done because of borrower's inability to serve the loan by its original schedule. If this is the case, significant increase credit risk (Stage 2) is recognized. Additional scenarios for moving the loans the loans that were modified due to customers problems to Stage 3 are in place, and additional observation periods are in place for recognizing improvement in staging for such loans. Impairment of non-financial assets Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Goodwill is tested for impairment at least annually. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows (cash-generating units). The impairment test also can be performed on a single asset when the fair value less cost to sell or the value in use can be determined reliably. Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Reverse repurchase transactions Securities purchased under agreements to resell (\u201creverse repos\u201d) are recorded as loans and advances to other banks or customers, as appropriate. The difference between purchase and repurchase price is treated as interest and accrued over the life of agreement using the effective interest method. Securities borrowed are not recognised in the financial statements, unless these are sold to third parties, in which case the purchase and sale are recorded with the gain or loss included in trading income. Reverse repurchase agreements are classified as loans and receivables and are accounted for using the amortised cost method. Intangible assets Intangible assets are stated at cost less accumulated amortisation. Intangible assets are amortised using the straight-line method over their estimated useful life (see note 16). Property, plant and equipment Property, plant and equipment assets are stated at historical cost less accumulated depreciation. Depreciation is provided on a straight-line basis to write off proportionally the cost of each asset over its estimated useful life. Assets that are subject to depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An asset\u2019s carrying amount is written down immediately to its recoverable amount if the asset\u2019s carrying amount is greater than its estimated recoverable amount. The recoverable amount is the higher of the asset\u2019s fair value less costs to sell and value in use. Gains and losses on disposals of fixed assets are determined by reference to their carrying amount and are charged to the Income statement. The assets residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. Asset maintenance costs are charged to the income statement when they are incurred. Significant improvements of assets are capitalised and depreciated over the remaining useful life period of the improved asset. Useful lives of property, plant and equipment are disclosed in Note 18. The accounting policy was revised to enhance transparency by measuring assets at fair value where possible, in line with prevailing market practice and regulatory expectations. The change has been applied prospectively. After the accounting policy change, for the buildings asset group, after initial recognition, subsequent measurement is carried out using the revaluation model, as specified in IAS 16. Under this model, buildings are presented at their revalued amount, which reflects the fair value at the date of revaluation, less accumulated depreciation and any accumulated impairment losses. Revaluation increases are recognized in other comprehensive income (OCI) and accumulated in equity under the revaluation reserve. Revaluations are performed at least once every three years, or more frequently if there are indications that the carrying amount of the buildings differs materially from their fair value due to changes in market conditions. Leases 1. Group company is the lessee Right-of-use assets and liabilities arising from lease are initially measured on present value basis, discounted using the interest rate implicit in the lease. Lease liabilities include fixed and variable payments (based on consumer index or inflation rate). Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The discount influence is recognised in finance cost as interest expense in income statement. Right-of-use assets are measured at cost comprising the amount of the initial measurement of lease liability, any initial direct costs, adjusted by advance payments. Right-of-use assets are depreciated using the straight-line method over rent period. The depreciation charge is recognised as depreciation expenses in income statement. The duration of rent agreements are adjusted by the Group\u2018s management assumptions on contract extensions. The expenses related to short- term leases or to leases of low-value assets are included in other operating expenses in income statement. Right-of-use assets are included in Property, plant and equipment, lease liabilities are included in Other financial liabilities. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). If any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend (or not terminate). Otherwise, the Group considers other factors including the plans to continue an activity. Contracts may contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. However, for leases of real estate for which the Group is a lessee, it has elected not to separate lease and non-lease components and instead accounts for these as a single lease component. 2. Group company is the lessor Operating leases Assets leased out under operating leases are included in tangible fixed assets in the statement of financial position. They are depreciated over their expected useful lives on a basis consistent with similar owned fixed assets. Rental income is recognised on a straight-line basis over the lease term. Finance leases A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. Title may or may not eventually be transferred. When assets are held subject to a finance lease, the present value of the lease payments is recognised as a receivable. The difference between the gross receivable and the present value of the receivable is recognised as unearned finance income. Lease income is recognised over the term of the lease using the net investment method (before tax), which reflects a constant periodic rate of return. Financial liabilities The Group\u2019s financial liabilities consist of those designated at fair value and those carried at amortised cost. Financial liabilities are derecognised when extinguished. Financial liabilities at fair value through profit or loss The group can designate certain liabilities upon initial recognition as at fair value through profit or loss (fair value option); this designation cannot be changed subsequently. Other liabilities measured at amortised cost Financial liabilities that are not classified as at fair value through profit or loss fall into this category and are measured at amortised cost. Financial liabilities measured at amortised cost are deposits from banks or customers, debt securities in issue, liabilities to special and lending funds as well as other various financial liabilities. Initially they are recognised at fair value, and subsequently stated at amortised cost, with any difference between net proceeds and the redemption value recognised in the Income statement over their period using the effective interest method. Accounting policies for subordinated perpetual bonds Under IAS 32, a financial instrument is classified as a financial liability if the issuer has a contractual obligation to deliver cash or another financial asset. The subordinated bond involves fixed interest payments, and the issuer's call option does not alter this obligation. Bondholders do not have voting rights or ownership rights in the issuer. The subordinated bond is recognized as a financial liability based on the following criteria: (i) the issuer has a contractual obligation to pay annual interest, (ii) the bond redemption, though at the issuer's discretion, inevitably results in the return of the principal amount, (iii) write-down and write- up features do not eliminate the obligation to pay interest, and (iv) bondholders have no rights to the residual value of the Group or voting rights. Upon initial recognition, the financial liability is measured at fair value, deducting directly attributable transaction costs. These costs are amortized using the effective interest rate method over an expected period. Provisions Provisions are recognised when: the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be reliably estimated. Dividends Dividends on the Bank\u2019s shares are recognized as liability in the period in which they are declared. Insurance and investment contracts classification and accounting The contracts concluded by the Group are divided into insurance contracts (accounted for in accordance with IFRS 17) and investment contracts (accounted for in accordance with IFRS 9, except for investment contracts with discretionary participation feature that are accounted for in accordance with IFRS 17) based on accepted insurance and (or) financial risk. A contract is not recognized as an insurance contract if the insurer accepts only financial risks such as interest rate risk, equity prices risk, credit risk or other financial risk but not significant insurance risk. A contract without significant insurance risk is recognized as an investment contract. A contract is recognized as an insurance contract only if it meets a definition for contract with significant insurance risk. The significance of insurance risk is evaluated at initial recognition for each contract, except for products for which the significance of insurance risk is obvious (for example, Term life insurance, Endowment etc.). For such products, the Group has decided not to evaluate the significance of insurance risk separately for each contract and these contracts are recognized as insurance contracts accounted for with IFRS 17 at the date of initial recognition. A contract which at the date of initial recognition is recognized as insurance contracts, remains an insurance contract until all rights and obligations expire. The Group chooses to use 10 % limit for significant testing. The significance of insurance risk is evaluated considering the (evaluated by probability) expected future cashflows discounted using risk-free interest rate curve at initial recognition, including additional amounts which would be payable in economic scenarios. The evaluation of significance of insurance risk is based on the following two scenarios: 1. insurance event does not occur; 2. insurance event does occur with probability of 100%. If additional amount payable due to the second scenario are higher than 10% of amounts under the first scenario, then insurance risk is considered significant. IFRS 17 requires separating the investment component from insurance contract only if the investment component is distinct. Some of the Group\u2019s insurance contracts have investment components however investment component and the insurance component are not highly interrelated and investment component is not distinct therefore the Group is not separating the investment component from the insurance contracts. Receipts and payments from these investment components are excluded from insurance contract revenue and insurance service expenses presented in profit or loss. Insurance contract liabilities Application of IFRS17 introduces significant accounting and disclosure changes for insurance contracts. All rights and obligations arising from the insurance contracts are shown at fair value. Amounts related to reinsurance contracts held are presented separately. This presentation of insurance and financial results provides a more transparently the sources of profit and the quality of income generated. In accordance to IFRS 17, the amounts shown in profit (loss) are divided into: \u2022 Insurance service result, which consist of insurance revenue and insurance service expenses; and \u2022 insurance finance income and expenses. Insurance revenue is a sum of expected benefits and expenses incurred, change in the risk adjustment, contractual service margin recognized over period and recovery of acquisition cashflows. Insurance service expenses is a sum of incurred claims expenses, losses on onerous contracts and reversal of those losses, changes of liability of incurred claims related to past service and insurance acquisition costs. Insurance service result does not include investment components and cash-flow changes related to future services (these changes ad adjusting the contractual service margin). Insurance finance income and expenses include the time value of money (discounting) and changes in financial risks related to insurance contracts groups. The Group have decided not to distribute the insurance finance income and expenses between profit and loss and other comprehensive income statements. In accordance with IFRS 17, the Group groups the insurance contracts into so-called units of accounts. The purpose of such grouping is to ensure that profit would be recognised over time proportionally to the insurance service provided while losses are recognised immediately when the Group assesses that the contract is generating loss. Setting off profit and loss between different insurance contracts groups is not allowed. Insurance contracts are aggregated into insurance contracts groups based on such three levels: 1. Portfolio \u2013 similar risk contracts managed together. 2. Profitability \u2013 contracts of same profitability. It was determined that the portfolio of issued insurance contracts should be divided into onerous and remaining groups, where the onerous group comprises insurance contracts that, at initial recognition, are assessed as having a loss component (LC). An insurance contract is assessed as having a loss component when the risk-adjusted present value of the future cash flows is negative. After initial recognition, no regrouping is performed in respect of profitability 3. Cohort \u2013 contracts which date of entry into force differ by more than one year. Portfolio cohort period beginning is January 1st of each calendar year and contracts of each portfolio are accounted using a one-year interval principle (annual cohort). The insurance contracts within a portfolio acquired at 1 December 2023 were recognized at acquisition date and were group into 2023- year cohort. The Group has chosen to apply two of the models defined in IFRS 17 for evaluating the insurance contracts: \u2022 General Measurement Model, GMM, is applied to insurance contracts that insures certain risk over the longer period of time. \u2022 Variable Fee Approach, VFA, is applied to insurance contracts with investment components and fulfilling the definition of contracts with direct participation feature. According to IFRS 17, the carrying value of a group of insurance contracts at end of each reporting period is calculated by adding the liability for remaining coverage and the liability for incurred claims, LIC. When evaluating these liabilities, the risk-adjusted present value of future cash-flows (hereinafter - fulfilment cashflows) is estimate for each unit of account, separately evaluating the present value of the future cash-flows and risk adjustment for non-financial risks. For unit of accounts without loss component, the liability for remaining coverage consists of fulfilment cashflows and contractual service margin. At initial recognition, the contractual service margin is equal to such amount which results in total liability for remaining coverage equal to 0. In case, the contractual service margin at initial recognition is negative, the contractual service margin is zeroized and the corresponding negative value is recognized as loss component which directly impacts profit or loss. For evaluation of the liability for remaining coverage, the future cashflows of insurance contracts are modelled within the contract boundary. Due to long term insurance and the limited ability to reassess portfolio risk, the contract boundary is the same as contracts\u2019 maturity date. When evaluating the unit of account liabilities, the Group takes into account all future cashflows within the boundary of insurance contracts. Insurance acquisition cashflows is a separate cost category which is considered when evaluating the insurance liability of remaining coverage. Such cashflows include cashflows arising from insurance contracts group acquisition, distribution and commencement costs directly attributable to portfolio of insurance contracts to which that group belongs. When applying GMM and VFA methods, future expected attributable costs are affecting the amount of CSM and are recognized in profit (loss) during the remaining insurance coverage according to the respective coverage units. For the estimation of the present value of the expected future cashflows, the Group has decided to use discount rates derived by applying the bottom-up approach (described as a combination of risk-free curve and the liquidity premium). For the discounting of cashflows, the Group has decided to use the risk-free interest rate curves published by European Insurance and Occupational Pensions Authority (EIOPA). For the purpose to reflect the liquidity characteristics of the cashflows, for unit-linked products, the EIOPA risk-free interest rate without volatility adjustment is used, and for other products, as they are considered less liquid, the EIOPA risk-free rate with volatility adjustment is used. When applying GMM, the discount curves locked-in at initial recognition are used. As new contracts start uniformly over the year, the weighted average discount curve is locked-in which is derived by using end of each quarter/month risk-free rates and the contracts issued/written premiums during the respective period. When evaluating the insurance contract liabilities, the Group includes the risk adjustment for non-financial risk which is estimated separately from the expected future cashflows and defined as the compensation an entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non- financial risk as the Group fulfils insurance contracts. The Group chose to calculate risk adjustment based on Solvency II capital requirement before diversification. Assumption is made that all Solvency II non-financial risk (mortality, longevity, disability, validity, outflows and catastrophe risk) is distributed by normal distribution. The calculation of the risk adjustment is based on determining the risks at the reference date (t=0) and forecasting them based on a run-off pattern appropriate for each non-financial risk based on Coverage units. Based on the decision of the Group, the risk adjustment corresponds to a 75% confidence level of the derived non-financial risk distribution. The entire change in risk adjustment for non-financial risk is included as part of the insurance service result. The contractual service margin at the end of the accounting period shows profit from the units of account which has not yet been recognized as it relates to service that will be provided for insurance contracts in the future. In accordance with IFRS 17, the part of contractual service margin which is recognized as profit or loss in the period shows the service provided for the respective unit of account in that period. The amount allocated to a certain period is determined by identifying coverage units within the portfolio. The number of coverage units within a group of insurance contracts is the quantity of insurance contracts services provided by the contracts in the group, determined considering for each contract the quantity of the benefits provided under a contract and its expected coverage period (including expected surrenders). Based on Group\u2019s decision, coverage units are not discounted. The future cashflows for liability for incurred claims is estimated on the unit of account level, separately evaluating the present value of expected future cashflows and the risk adjustment for non-financial risk. The present value of the expected future cashflows for liability of incurred claims is estimated by evaluating the best estimate of incurred claim outpayments, forecasting the future cashflows using Group\u2019s historical claims settlement data and discounting the future cashflows by the respective risk-free interest rate curve. The risk adjustment for non-financial risk, as part of the liability for incurred claims, reflects the risk compensation related to the amounts of the incurred claims as well as the timing when the incurred claims will be settled, and corresponds to the confidence level of 75%. Investment contracts liabilities A contract without significant insurance risk is recognized as an investment contract. Under an investment contract the Group accepts only financial risks such as interest rate, equity prices, credit or other financial risk but not significant insurance risk. Investment contracts liabilities are measured by those contracts' portfolio market value, and the value of liabilities changes depending on the change in market value of related investments. Administrative and risk fees of investment contracts decrease investment contracts liabilities and are recognized as the Group\u2019s income. Segment information Operating segments are reported in accordance with the information analysed by the Executive Board (the chief operating decision-maker) of the Group, which is responsible for allocating resources to the reportable segments and assesses its performance. In relation to adjusted strategy of the Bank, business model and strategic decisions are divided into three business lines \u2013 corporate, private and investment: \u2022 Private segment \u2013 includes retail banking operations such as issuing loans and providing banking services to the customers and finance, lease and consumer financing services provided to private customers of the Group (includes financial information of the subsidiaries); \u2022 Corporate segment \u2013 includes corporate banking operations such as issuing loans and providing banking services provided to corporate customers of the Group (includes financial information of the subsidiaries); \u2022 Investment segment \u2013 includes banking treasury operations such as managing securities and liquidity portfolio, currency exchange etc. (includes financial information of the Bank and subsidiaries allocated to this segment). As the Group\u2019s segment operations, except for real estate development are all financial with a majority of revenues deriving from interest and the Group Executive Board relies primarily on net interest revenue to assess the performance of the segment, the total interest income and expense for all reportable segments is presented on a net basis. Also all other main items of the income statement are analysed by the management of the Group on segment basis therefore they are presented in the segment reporting. Transactions between the business segments are carried out at arm\u2019s length. The revenue from external parties reported to the Group Executive Board is measured in a manner consistent with that in the consolidated income statement. As the Group focuses on domestic activities, no geographical concentration is observed in Group\u2018s decision making. Due to the nature of Group\u2018s activities (financial services), capital expenditures are not important in the decision making process therefore not used in the segment reporting and total assets is more relevant indicator than the fixed asset amount. Fair value of assets and liabilities Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For more information, see part 4. Fair value of financial assets and liabilities in Financial Risk Management. Financial guarantee contracts, letters of credit and undrawn loan commitments Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due, in accordance with the terms of a debt instrument. Such financial guarantees are given to banks, financial institutions and other bodies on behalf of customers to secure loans, overdrafts and other banking facilities. Financial guarantees are initially recognised in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Bank\u2019s liabilities under such guarantees are measured at the higher of the amount of loss allowance and the premium received on initial recognition less income recognized in accordance with principles of IFRS 15. Undrawn loan commitments and letters of credits are commitments under which, over the duration of the commitment, the Bank is required to provide a loan with pre- specified terms to the customer. These contracts are in the scope of the ECL impairment recognition requirements. Derivative financial instruments Derivatives are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at their fair value. Fair values are obtained from quoted market prices in active markets (for example, for exchange-traded options), including recent market transactions, and valuation techniques (for example for non-traded options), including discounted cash flow models and options pricing models, as appropriate. All derivatives are carried as assets when fair value is positive and as liabilities when fair value is negative. All derivative financial instruments are classified as held for trading. Hedge accounting The Group applies fair value hedge accounting for micro hedging relationships. For macro hedging relationships, hedge accounting continues to be applied under the principles of IAS 39, consistent with the Group\u2019s existing portfolio hedge framework. All fair value changes of both hedged items and hedging instruments are recognized directly in profit or loss under Financial income/expense from valuation of fair value hedging derivatives. The fair value adjustment of hedged items is presented in the statement of financial position as Fair value changes of hedged items in fair value portfolio hedge of interest rate risk. Hedging instruments are presented as Financial assets or financial liabilities held for trading and hedging derivatives. For more information, see note 21. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-501": { "value": "Basis of accounting The financial statements of the Group and the Bank have been prepared in accordance with IFRS Accounting standarts as adopted by the EU. The financial statements have been prepared under the historical cost convention as modified for the fair value of financial assets and liabilities at fair value through profit or loss and investment securities at fair value through other comprehensive income. The preparation of financial statements in conformity with IFRS Accounting Standarts require the use of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management\u2019s best knowledge of current event and actions, actual results ultimately may differ from those estimates. These financial statements combine the consolidated financial statements for the Group and separate financial statements of the Bank. Such format of reporting was adopted to ensure consistency of presentation with the format prescribed by the Bank of Lithuania and applied for statutory reporting. Neither the Bank\u2019s shareholders, nor any other party have power to amend the financial statements after issue. According to local legislation, the financial statements are subject to approval in the general meeting of shareholders, but the approval/disapproval cannot result in amendment of the financial statements. Amounts shown in these financial statements are presented in the national currency the euro (EUR), which is the Bank\u2019s and Group\u2018s functional and presentation currency.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-537": { "value": "The financial statements of the Group and the Bank have been prepared in accordance with IFRS Accounting standarts as adopted by the EU.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-502": { "value": "
Amendments to existing standards and interpretations effective in 2025
A number of new standards are effective from 1 January 2025 but they do not have a
material effect on the Group\u2019s financial statements:
\u2022 Classification and Measurement of Financial Instruments (Amendments
to IFRS 9 and IFRS 7)
\u2022 Lack of Exchangeability (Amendments to IAS 21).
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-503": { "value": "
Standards and amendments to existing standards that are not yet effective and
have not been early adopted by the Group and the Bank
A number of new standards and amendments are effective for annual periods
beginning on 1 January 2026 and after. Earlier application is permitted for certain
standards; however, the Group and the Bank has not early adopted any of the new or
amended standards in preparing these financial statements.
The following new and amended standards are not expected to have a significant
impact on the Group\u2019s and the Bank\u2019s financial statements:
\u2022 Presentation and Disclosure in Financial Statements (Amendments to
IFRS 18);
\u2022 Subsidiaries without Public Accountability: Disclosures (IFRS 19);
Although the Group\u2019s and the Bank\u2019s statement of profit or loss is already largely
aligned with the presentation requirements introduced by IFRS 18, the standard is
expected to result in additional disclosure requirements in the notes to the financial
statements, including disclosures related to management-defined performance
measures.
", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-504": { "value": "
Consolidation of subsidiaries
Subsidiaries
Subsidiaries are entities controlled by the Group, where control exists through
exposure or rights to variable returns and the ability to influence those returns. They
are fully consolidated from the date control is obtained and deconsolidated when
control is lost.
Transactions with non-controlling interests that do not result in a loss of control are
treated as equity transactions, with any differences recorded in equity. Gains or losses
on disposals to non-controlling interests are also recognised in equity.
The Group applies the acquisition method to account for business combinations. The
consideration transferred for the acquisition of a subsidiary is the fair values of the
assets transferred, the liabilities incurred to the former owners of the acquiree and the
equity interests issued by the Group. The consideration transferred includes the fair
value of any asset or liability resulting from a contingent consideration arrangement.
Identifiable assets acquired and liabilities and contingent liabilities assumed in a
business combination are measured initially at their fair values at the acquisition date.
The Group recognizes any non-controlling interest in the acquiree on an acquisition-
by acquisition basis, either at fair value or at the non-controlling interest\u2019s proportionate
share of the recognized amounts of acquiree\u2019s identifiable net assets.
Intercompany Transactions
All intercompany transactions, balances, and unrealised gains or losses are eliminated
unless indicative of impairment. Subsidiaries\u2019 accounting policies are aligned with
those of the Group.
Equity Method in Stand-Alone Financial Statements
In the Bank\u2019s stand-alone financial statements, subsidiaries are accounted for using
the equity method. Investments are initially recognised at cost and adjusted for post-
acquisition changes in net assets. The Bank\u2019s share of profits or losses is included in
the income statement; dividends reduce the carrying amount of the investment but are
not recognised in income.
Business combinations
Business combinations are accounted for using the acquisition method in accordance
with IFRS 3. Identifiable assets acquired and liabilities assumed are recognised at fair
value at the acquisition date and goodwill is recognised for the excess of consideration
over the net identifiable assets acquired. Fair value measurement involves significant
judgement and estimation, and changes in assumptions could affect the amounts
recognized. Further information regarding goodwill and funds rights is provided in Note
15.
Associates
The Group\u2019s share of post-acquisition profits or losses of associates is recognised in
the income statement, and its share of other comprehensive income is reflected
accordingly. Losses exceeding the Group\u2019s interest are not recognised unless
obligations have been assumed.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-541": { "value": "Intercompany Transactions All intercompany transactions, balances, and unrealised gains or losses are eliminated unless indicative of impairment. Subsidiaries\u2019 accounting policies are aligned with those of the Group. Equity Method in Stand-Alone Financial Statements In the Bank\u2019s stand-alone financial statements, subsidiaries are accounted for using the equity method. Investments are initially recognised at cost and adjusted for post- acquisition changes in net assets. The Bank\u2019s share of profits or losses is included in the income statement; dividends reduce the carrying amount of the investment but are not recognised in income. Business combinations Business combinations are accounted for using the acquisition method in accordance with IFRS 3. Identifiable assets acquired and liabilities assumed are recognised at fair value at the acquisition date and goodwill is recognised for the excess of consideration over the net identifiable assets acquired. Fair value measurement involves significant judgement and estimation, and changes in assumptions could affect the amounts recognized. Further information regarding goodwill and funds rights is provided in Note 15. Associates The Group\u2019s share of post-acquisition profits or losses of associates is recognised in the income statement, and its share of other comprehensive income is reflected accordingly. Losses exceeding the Group\u2019s interest are not recognised unless obligations have been assumed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-555": { "value": "Business combinations Business combinations are accounted for using the acquisition method in accordance with IFRS 3. Identifiable assets acquired and liabilities assumed are recognised at fair value at the acquisition date and goodwill is recognised for the excess of consideration over the net identifiable assets acquired. Fair value measurement involves significant judgement and estimation, and changes in assumptions could affect the amounts recognized. Further information regarding goodwill and funds rights is provided in Note 15. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-505": { "value": "
Foreign currency translation
a) Functional and presentation currency
Items included in the financial statements of each of the Group\u2019s entities are
measured using the currency of the primary economic environment in which the
entity operates (\u2018the functional currency\u2019). The consolidated financial statements
are presented in the euro, which is the Bank\u2019s functional and presentation
currency. Euro also is functional and presentation currency of all the subsidiaries
of the Bank included in the consolidated financial statements.
b) Transactions and balances
All monetary assets and liabilities denominated in foreign currencies are
translated into the euro (EUR) at the official daily euro foreign exchange
reference rates (published by the European Central Bank) prevailing at the end
of the reporting period. Gains and losses arising from this translation are
included in the income statement for the reporting period. All non-monetary
liabilities and assets are translated using the exchange rate prevailing on the
date of acquisition.
Foreign currency transactions are recorded in the euro using the exchange rate ruling
on the date of the transaction. Exchange differences arising from the settlement of
transactions denominated in foreign currency are charged to the income statement at
the time of transaction using the exchange rate ruling at that date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-538": { "value": "Foreign currency translation a) Functional and presentation currency Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in the euro, which is the Bank\u2019s functional and presentation currency. Euro also is functional and presentation currency of all the subsidiaries of the Bank included in the consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-539": { "value": "Off-setting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-506": { "value": "
Recognition of income and expenses
Interest income and expense are recognised in the income statement on debt
instruments at amortized cost or at fair value through other comprehensive income on
an accrual basis using the effective interest method based on the actual purchase
price. The effective interest method is a method of calculating the amortised cost of a
financial asset or a financial liability and of allocating the interest income or interest
expense over the relevant period. The effective interest rate is the rate that exactly
discounts estimated future cash payments or receipts through the expected life of the
financial instrument or, when appropriate, a shorter period to the net carrying amount
of the financial asset or financial liability. When calculating the effective interest rate,
the Group estimates cash flows considering all contractual terms of the financial
instrument (for example, prepayment options). The calculation includes all fees and
points paid or received between parties to the contract that are an integral part of the
effective interest rate, transaction costs and all other premiums or discounts.
Loan origination fees are accounted for as an adjustment to the effective interest rate
calculation for each issued loan separately. Other commission fees and other similar
income and expenses are recognised as gained or incurred.
For financial assets interest income is calculated by applying the effective interest rate
to the gross carrying amount, except for financial assets that are credit-impaired
(Stage 3), for which interest income is calculated by applying the effective interest rate
to the net carrying amount (i.e. gross carrying amount reduced by the allowance for
impairment), and purchased or originated credit-impaired (POCI) assets, for which the
credit-adjusted effective interest rate is applied to the amortized cost of the financial
asset.
Revenues from contracts with customers consist primarily of service-related fees and
are reported as Commission income, including fees for settlement services, service
plans, cash operations, cards, account servicing fees, services related to securities,
funds management fees, collection of utility and similar payments and others. The
revenues reflect the consideration which is expected to be received in exchange for
those services or transactions. The recognition in Income statement depends on
whether the Group's obligations are provided. Revenue from such services is
recognised over time on a straight-line basis when the services are provided to the
customer. Revenue related to transactions is recognised at a point in time when the
transaction takes place. Fee income for settlement services, cash operations,
documentary collection, collection of utility and similar payments, services related to
securities, funds distribution and other is recognised at a point in time when the Group
satisfies its performance obligation upon execution of the specified transaction.
Insurance income and expense recognition is disclosed under Accounting principles
section Insurance and investment contracts classification and accounting.
For distribution of second and third-tier pension funds Group uses services of external
intermediaries, for whom a commission fee is paid for conclusion of the contract. The
Group considers commissions paid to intermediaries for the conclusion of contracts
for new pension fund participants as the costs of concluding contracts with clients and
capitalizes and amortizes them over the average expected period of the new client's
retention as a client of the Group - 10 years. Capitalized amounts of commission fees
to intermediaries are recognized in the statement of financial position in the part of
fixed assets.
Revenue from other activities of the Group comprise sale of apartments or other
developed real estate projects. This revenue is recognized at a point of time upon
transfer of completed property to client.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-554": { "value": "Recognition of income and expenses Interest income and expense are recognised in the income statement on debt instruments at amortized cost or at fair value through other comprehensive income on an accrual basis using the effective interest method based on the actual purchase price. The effective interest method is a method of calculating the amortised cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset or financial liability. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument (for example, prepayment options). The calculation includes all fees and points paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts. Loan origination fees are accounted for as an adjustment to the effective interest rate calculation for each issued loan separately. Other commission fees and other similar income and expenses are recognised as gained or incurred. For financial assets interest income is calculated by applying the effective interest rate to the gross carrying amount, except for financial assets that are credit-impaired (Stage 3), for which interest income is calculated by applying the effective interest rate to the net carrying amount (i.e. gross carrying amount reduced by the allowance for impairment), and purchased or originated credit-impaired (POCI) assets, for which the credit-adjusted effective interest rate is applied to the amortized cost of the financial asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-540": { "value": "Recognition of income and expenses Interest income and expense are recognised in the income statement on debt instruments at amortized cost or at fair value through other comprehensive income on an accrual basis using the effective interest method based on the actual purchase price. The effective interest method is a method of calculating the amortised cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset or financial liability. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument (for example, prepayment options). The calculation includes all fees and points paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts. Loan origination fees are accounted for as an adjustment to the effective interest rate calculation for each issued loan separately. Other commission fees and other similar income and expenses are recognised as gained or incurred. For financial assets interest income is calculated by applying the effective interest rate to the gross carrying amount, except for financial assets that are credit-impaired (Stage 3), for which interest income is calculated by applying the effective interest rate to the net carrying amount (i.e. gross carrying amount reduced by the allowance for impairment), and purchased or originated credit-impaired (POCI) assets, for which the credit-adjusted effective interest rate is applied to the amortized cost of the financial asset. Revenues from contracts with customers consist primarily of service-related fees and are reported as Commission income, including fees for settlement services, service plans, cash operations, cards, account servicing fees, services related to securities, funds management fees, collection of utility and similar payments and others. The revenues reflect the consideration which is expected to be received in exchange for those services or transactions. The recognition in Income statement depends on whether the Group's obligations are provided. Revenue from such services is recognised over time on a straight-line basis when the services are provided to the customer. Revenue related to transactions is recognised at a point in time when the transaction takes place. Fee income for settlement services, cash operations, documentary collection, collection of utility and similar payments, services related to securities, funds distribution and other is recognised at a point in time when the Group satisfies its performance obligation upon execution of the specified transaction. Insurance income and expense recognition is disclosed under Accounting principles section Insurance and investment contracts classification and accounting. For distribution of second and third-tier pension funds Group uses services of external intermediaries, for whom a commission fee is paid for conclusion of the contract. The Group considers commissions paid to intermediaries for the conclusion of contracts for new pension fund participants as the costs of concluding contracts with clients and capitalizes and amortizes them over the average expected period of the new client's retention as a client of the Group - 10 years. Capitalized amounts of commission fees to intermediaries are recognized in the statement of financial position in the part of fixed assets. Revenue from other activities of the Group comprise sale of apartments or other developed real estate projects. This revenue is recognized at a point of time upon transfer of completed property to client.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-507": { "value": "
Share-based payment
Employees whose professional activities and/or decisions may have a significant
impact on the level of risk assumed by the Group are awarded deferred variable
remuneration. The grant-date fair value of share-based payment awards granted to
employees is recognised in the statement of profit or loss as salaries and related
expenses, with a corresponding amount recognised within other equity in the
statement of financial position.
Obligations to settle contracts with equity instruments are recognised as equity-settled
share-based payments. For the purpose of accounting for employee benefits, the
Group recognises share-based payment arrangements as salaries and related
expenses in the statement of profit or loss, with a corresponding increase in other
equity in the statement of financial position. The expense recognised is adjusted to
reflect the number of equity instruments expected to vest based on service and non-
market performance conditions (i.e., conditions not directly linked to changes in the
market price of the shares). Any deviations from the initially granted number of equity
instruments arising from modifications to the original terms and conditions are
recognised in the statement of profit or loss, with a corresponding adjustment
recognised in other equity in the statement of financial position..
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-510": { "value": "
Taxation
Income tax
Income tax consists of current and deferred income tax. Both are calculated and
recognized in accordance with the Income Tax Law of the Republic of Lithuania in
force on the date of preparation of the financial statements.
Income tax assets for the reporting period and income tax liabilities for the reporting
period and previous periods are measured at the amount expected to be recovered
from or paid to the tax administrator.
Current income tax
The Bank's taxable profit exceeding EUR 2 million is subject to a 21% income tax rate
for 2025. The Bank additionally pays a 5% supplementary bank tax calculated on
taxable profit in accordance with applicable laws.
Subsidiaries apply a 16% income tax rate as set out in the Income Tax Law of the
Republic of Lithuania.
From January 1, 2026, the Bank will be subject to a 17% income tax rate. At the same
time, the 5% additional bank tax remains in place, resulting in a total tax burden of
22% on the Bank's taxable profit. From 2026, the Group's subsidiaries will be subject
to a 17% income tax rate.
Deferred income tax
Deferred income tax is calculated using the liability method for all temporary
differences arising between the carrying amounts of assets and liabilities and their tax
bases.
Deferred income tax is measured using tax rates that are enacted at the balance sheet
date and will apply when the temporary differences are reversed.
Given that from 2026 the Bank's taxable profit will be subject to a 17% income tax and
a 5% additional bank tax, the Bank's deferred income tax assets and liabilities as at
31 December 2025 are calculated using a rate of 22%, provided that it is probable that
the related temporary differences will be reversed from 1 January 2026.
The deferred income tax of subsidiaries as at 31 December 2025 is calculated using
a 17% income tax rate.
The main temporary differences arise from the revaluation of securities, differences
between the carrying amount of tangible fixed assets and their tax base, and
accumulated costs. Deferred income tax is calculated using rates that have been
enacted or substantively enacted by the balance sheet date. However, deferred
income tax is not recognized if it arises from the initial recognition of an asset or liability
in a transaction (other than a business combination) that, at the time of the transaction,
affects neither accounting profit nor taxable profit (loss).
Contribution tax
The Lithuanian bank solidarity tax is a 60% tax rate applied to the excess net interest
income of Lithuanian credit institutions. It is effective from May 16, 2023, until the
second quarter of 2026. It is calculated on the portion of income that exceeds the
average net interest income of the previous four years by more than 50%. Artea did
not pay this tax in 2024\u20132025.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-543": { "value": "Deferred income tax Deferred income tax is calculated using the liability method for all temporary differences arising between the carrying amounts of assets and liabilities and their tax bases. Deferred income tax is measured using tax rates that are enacted at the balance sheet date and will apply when the temporary differences are reversed. Given that from 2026 the Bank's taxable profit will be subject to a 17% income tax and a 5% additional bank tax, the Bank's deferred income tax assets and liabilities as at 31 December 2025 are calculated using a rate of 22%, provided that it is probable that the related temporary differences will be reversed from 1 January 2026. The deferred income tax of subsidiaries as at 31 December 2025 is calculated using a 17% income tax rate. The main temporary differences arise from the revaluation of securities, differences between the carrying amount of tangible fixed assets and their tax base, and accumulated costs. Deferred income tax is calculated using rates that have been enacted or substantively enacted by the balance sheet date. However, deferred income tax is not recognized if it arises from the initial recognition of an asset or liability in a transaction (other than a business combination) that, at the time of the transaction, affects neither accounting profit nor taxable profit (loss). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-508": { "value": "
Cash and cash equivalents
For the purposes of the cash flow statement, cash and cash equivalents comprise
balances with less than three months\u2019 maturity from the date of acquisition, including
cash and non-restricted balances with the Bank of Lithuania, treasury bills and other
eligible bills, amounts due from banks and financial institutions and short-term
government securities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-509": { "value": "
Financial assets
Financial assets are classified into 3 categories:
\u2022 financial assets at fair value through profit and loss (the Group and the
Bank have debt and equity securities which are included to trading book,
and equity securities which are included to investment securities portfolio),
\u2022 financial assets at fair value through other comprehensive income (the
Group and the Bank have only debt securities of this category, these are
included to Investment securities portfolio) and
\u2022 financial assets at amortized cost.
Financial assets are initially recognised at fair value plus transaction costs for all
financial assets not carried at fair value through profit or loss. The classification is
based on the cash flow characteristics of the asset and the Group\u2019s business model
for managing the asset.
Financial assets at fair value through profit or loss
Trading book (trading sub-portfolio) includes debt securities which were acquired
either for generating a profit from short-term fluctuations in price or dealer\u2019s margin.
Trading book (other assets sub-portfolio) includes debt and equity assets of the
subsidiary involved in life insurance activities. These assets are managed on behalf of
customers and were designated at fair value through profit or loss in order to
significantly reduce the accounting mismatch between these securities and unit-linked
provisions.
Investment portfolio includes non-trading (investment) equities that were acquired for
generating a profit in longer term fluctuations or in line with other purposes with the
Group (e.g. to have participation in entities that provide services to the group, or other).
Securities at fair value through profit or loss are initially recognised at fair value, which
is based on transaction price and are subsequently measured at fair value based on
quoted bid prices or derived from a discounted cash flow model if market price is
unreliable measure. All related realised and unrealised gains and losses are included
in net trading income. Interest earned is reported as interest income. Dividends
received are included in dividend income. The instruments are derecognised when the
rights to receive cash flows have expired or the Group has transferred substantially all
the risks and rewards of ownership and the transfer qualifies for derecognising.
All purchases and sales of securities at fair value through profit or loss that require
delivery within the time frame established by regulation or market convention (\u2018regular
way\u2019 purchases and sales) are recognised at settlement date, which is the date when
payment is made for assets purchased or sold. All other purchases and sales are
recognised as derivative forward transactions until settlement. Changes in the asset's
fair value between the trade date and the settlement date are recognized as trading
gains/losses in the income statement.
Financial assets at fair value through other comprehensive income
Debt securities that are held for collection of contractual cash flows and for selling
them, where the assets\u2019 cash flows represent solely payments of principal and interest,
and that are not designated at fair value through profit or loss, are measured at fair
value through other comprehensive income. Movements in the carrying amount are
taken through other comprehensive income, except for recognition of impairment
gains or losses, interest income and foreign exchange gains or losses on the financial
instrument\u2019s amortised cost which are recognized in profit or loss. When the debt asset
is derecognized, the cumulative gain or loss previously recognized in other
comprehensive income is reclassified from equity to profit or loss and recognized in
Net gain (loss) in operations from securities. Interest income from these financial
assets is included in Interest income using the effective interest rate method.
The Group did not designate any equities at fair value through other comprehensive
income.
Financial assets at amortized cost
Loans to customers and finance lease receivables that are the main strategic direction
of Group's business and debt securities that are held for collecting cash flows in line
with prescribed business model to generate long-term yield and to serve as secondary
liquidity reserves constitute the major part of Group's assets and are attributable to
financial assets at amortized cost (as well as other qualifying assets such as cash
equivalents, due from banks, other financial assets). These assets may be sold, but
sales (other than sales low in volume or sales as part of problem debt recovery
activities) are rare and infrequent. Financial assets at amortized cost are non-
derivative financial assets that pass the \u201cSolely payments of principal and interest\u201d
(SPPI) test other than: (a) those that the bank classifies as fair value through profit or
loss due to intention for short-term sale or reduction of accounting mismatch; (b) those
that the bank upon initial recognition designates at fair value through other
comprehensive income; or (c) those for which the holder may not recover substantially
all of its initial investment, other than because of credit deterioration. In the case of
impairment, the impairment loss is reported as a deduction from the carrying value of
the asset and recognised in the income statement as \u2018Allowance for impairment
losses\u2019. Financial assets at amortized cost are derecognized when the contractual
rights to receive the cash flow from the assets expire, or the assets are written-off, or
the Group has transferred substantially all the risks and rewards of ownership and the
transfer qualifies for derecognising.
Purchased or originated credit-impaired (POCI) financial assets
Purchased or originated credit-impaired (POCI) financial assets are initially recognised
at fair value, reflecting the impact of expected credit losses at the date of acquisition.
The accounting treatment for these loans under IFRS 9 differs from that of performing
loans, with impairment recognised based on the expected credit losses from the point
of acquisition. Interest income is calculated using a credit-adjusted effective interest
rate that takes into account expected credit losses.
Impairment of financial assets
The Group assesses on a forward-looking basis the expected credit losses (ECL)
associated with its debt instrument assets carried at amortized cost and fair value
through other comprehensive income and with exposure arising from loan
commitments and financial guarantee contracts. The Group recognizes a loss
allowance for such losses at each reporting date. The measurement of ECL reflects
an unbiased and probability-weighted amount that is determined by evaluating a range
of possible outcomes, the time value of money and reasonable and supportable
information that is available without undue cost or effort at the reporting date about
past events, current conditions and forecasts of future economic condition. Section 1.3
of the Financial risk management disclosure provides more details on the ECL measurement. Derecognition of financial assets The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of risks and rewards of ownership and it does not retain control of the financial asset. On derecognition of a financial asset the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability assumed) and any cumulative gain or loss that had been recognised in other comprehensive income is recognised in profit or loss. Write-offs of financial assets Loans and receivables are regularly reviewed and written-off from the balance sheet when the total loan balance or a part of it is considered as uncollectible under the most optimistic scenario using expert judgement on each exposure. Typically, the judgement that there is no reasonable expectation for recovery is applied for the exposures where there are no clear indications of possible cash flows from the
borrower and to the extent that the collateral is deemed insufficient. 100% impairment
provision against the carrying amount of the exposure must be recognized before an
uncollectible exposure (or part of it that is considered to be uncollectible) can be
written-off. Written-off exposures are accounted for as off-balance sheet claims
(\u201caccumulated write-offs\u201d) until the legal right to claim the amounts from the borrower
expires.
Modifications of financial assets
The Group sometimes modifies the payment terms of loans to customers due to
commercial renegotiations, or for distressed loans, with a view to maximising recovery.
Modification practices are based on criteria which, in the judgement of management,
indicate that payment will most likely continue. Legal treatment for loan contract
amendments is followed, i.e. amended loan contracts are accounted for as
modifications - i.e. date of signing the original contract remains the point for loan
parameters at origination used to assess significant increase of credit risk. On
modification, the gross carrying amount of the loan is recalculated as the present value
of the modified contractual cash flows that are discounted at the loan\u2019s original
effective interest rate. The resulting modification gain or loss is included in other
income line in the income statement. The modification of loan contract does not
automatically impact its credit stage assignment if it done on a commercial
negotiations basis or according to public or sectoral moratoria, but the loans subject
to modification are checked if it is done because of borrower's inability to serve the
loan by its original schedule. If this is the case, significant increase credit risk (Stage
2) is recognized. Additional scenarios for moving the loans the loans that were
modified due to customers problems to Stage 3 are in place, and additional
observation periods are in place for recognizing improvement in staging for such loans.
Impairment of non-financial assets
Assets are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount may not be recoverable. Goodwill is tested for
impairment at least annually. An impairment loss is recognised for the amount by
which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable
amount is the higher of an asset\u2019s fair value less costs to sell and value in use. For the
purposes of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash inflows (cash-generating units). The impairment
test also can be performed on a single asset when the fair value less cost to sell or the
value in use can be determined reliably. Non-financial assets other than goodwill that
suffered impairment are reviewed for possible reversal of the impairment at each
reporting date.
Financial liabilities
The Group\u2019s financial liabilities consist of those designated at fair value and those
carried at amortised cost. Financial liabilities are derecognised when extinguished.
Financial liabilities at fair value through profit or loss
The group can designate certain liabilities upon initial recognition as at fair value
through profit or loss (fair value option); this designation cannot be changed
subsequently.
Other liabilities measured at amortised cost
Financial liabilities that are not classified as at fair value through profit or loss fall
into this category and are measured at amortised cost. Financial liabilities
measured at amortised cost are deposits from banks or customers, debt
securities in issue, liabilities to special and lending funds as well as other various
financial liabilities. Initially they are recognised at fair value, and subsequently stated at amortised cost, with any difference between net proceeds and the redemption value recognised in the Income statement over their period using the effective interest method. Accounting policies for subordinated perpetual bonds Under IAS 32, a financial instrument is classified as a financial liability if the issuer has a contractual obligation to deliver cash or another financial asset. The subordinated bond involves fixed interest payments, and the issuer's call option does not alter this obligation. Bondholders do not have voting rights or ownership rights in the issuer. The subordinated bond is recognized as a financial liability based on the following criteria: (i) the issuer has a contractual obligation to pay annual interest, (ii) the bond redemption, though at the issuer's discretion, inevitably results in the return of the principal amount, (iii) write-down and write- up features do not eliminate the obligation to pay interest, and (iv) bondholders have no rights to the residual value of the Group or voting rights. Upon initial recognition, the financial liability is measured at fair value, deducting directly attributable transaction costs. These costs are amortized using the effective interest rate method over an expected period.
Derivative financial instruments
Derivatives are initially recognised at fair value on the date on which a derivative
contract is entered into and are subsequently remeasured at their fair value. Fair
values are obtained from quoted market prices in active markets (for example, for
exchange-traded options), including recent market transactions, and valuation
techniques (for example for non-traded options), including discounted cash flow
models and options pricing models, as appropriate. All derivatives are carried as
assets when fair value is positive and as liabilities when fair value is negative. All
derivative financial instruments are classified as held for trading.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-542": { "value": "Financial assets Financial assets are classified into 3 categories: \u2022 financial assets at fair value through profit and loss (the Group and the Bank have debt and equity securities which are included to trading book, and equity securities which are included to investment securities portfolio), \u2022 financial assets at fair value through other comprehensive income (the Group and the Bank have only debt securities of this category, these are included to Investment securities portfolio) and \u2022 financial assets at amortized cost. Financial assets are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. The classification is based on the cash flow characteristics of the asset and the Group\u2019s business model for managing the asset. Financial assets at fair value through profit or loss Trading book (trading sub-portfolio) includes debt securities which were acquired either for generating a profit from short-term fluctuations in price or dealer\u2019s margin. Trading book (other assets sub-portfolio) includes debt and equity assets of the subsidiary involved in life insurance activities. These assets are managed on behalf of customers and were designated at fair value through profit or loss in order to significantly reduce the accounting mismatch between these securities and unit-linked provisions. Investment portfolio includes non-trading (investment) equities that were acquired for generating a profit in longer term fluctuations or in line with other purposes with the Group (e.g. to have participation in entities that provide services to the group, or other). Securities at fair value through profit or loss are initially recognised at fair value, which is based on transaction price and are subsequently measured at fair value based on quoted bid prices or derived from a discounted cash flow model if market price is unreliable measure. All related realised and unrealised gains and losses are included in net trading income. Interest earned is reported as interest income. Dividends received are included in dividend income. The instruments are derecognised when the rights to receive cash flows have expired or the Group has transferred substantially all the risks and rewards of ownership and the transfer qualifies for derecognising. All purchases and sales of securities at fair value through profit or loss that require delivery within the time frame established by regulation or market convention (\u2018regular way\u2019 purchases and sales) are recognised at settlement date, which is the date when payment is made for assets purchased or sold. All other purchases and sales are recognised as derivative forward transactions until settlement. Changes in the asset's fair value between the trade date and the settlement date are recognized as trading gains/losses in the income statement. Financial assets at fair value through other comprehensive income Debt securities that are held for collection of contractual cash flows and for selling them, where the assets\u2019 cash flows represent solely payments of principal and interest, and that are not designated at fair value through profit or loss, are measured at fair value through other comprehensive income. Movements in the carrying amount are taken through other comprehensive income, except for recognition of impairment gains or losses, interest income and foreign exchange gains or losses on the financial instrument\u2019s amortised cost which are recognized in profit or loss. When the debt asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss and recognized in Net gain (loss) in operations from securities. Interest income from these financial assets is included in Interest income using the effective interest rate method. The Group did not designate any equities at fair value through other comprehensive income. Financial assets at amortized cost Loans to customers and finance lease receivables that are the main strategic direction of Group's business and debt securities that are held for collecting cash flows in line with prescribed business model to generate long-term yield and to serve as secondary liquidity reserves constitute the major part of Group's assets and are attributable to financial assets at amortized cost (as well as other qualifying assets such as cash equivalents, due from banks, other financial assets). These assets may be sold, but sales (other than sales low in volume or sales as part of problem debt recovery activities) are rare and infrequent. Financial assets at amortized cost are non- derivative financial assets that pass the \u201cSolely payments of principal and interest\u201d (SPPI) test other than: (a) those that the bank classifies as fair value through profit or loss due to intention for short-term sale or reduction of accounting mismatch; (b) those that the bank upon initial recognition designates at fair value through other comprehensive income; or (c) those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration. In the case of impairment, the impairment loss is reported as a deduction from the carrying value of the asset and recognised in the income statement as \u2018Allowance for impairment losses\u2019. Financial assets at amortized cost are derecognized when the contractual rights to receive the cash flow from the assets expire, or the assets are written-off, or the Group has transferred substantially all the risks and rewards of ownership and the transfer qualifies for derecognising. Purchased or originated credit-impaired (POCI) financial assets Purchased or originated credit-impaired (POCI) financial assets are initially recognised at fair value, reflecting the impact of expected credit losses at the date of acquisition. The accounting treatment for these loans under IFRS 9 differs from that of performing loans, with impairment recognised based on the expected credit losses from the point of acquisition. Interest income is calculated using a credit-adjusted effective interest rate that takes into account expected credit losses. Impairment of financial assets The Group assesses on a forward-looking basis the expected credit losses (ECL) associated with its debt instrument assets carried at amortized cost and fair value through other comprehensive income and with exposure arising from loan commitments and financial guarantee contracts. The Group recognizes a loss allowance for such losses at each reporting date. The measurement of ECL reflects an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes, the time value of money and reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic condition. Section 1.3 of the Financial risk management disclosure provides more details on the ECL measurement. Derecognition of financial assets The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of risks and rewards of ownership and it does not retain control of the financial asset. On derecognition of a financial asset the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability assumed) and any cumulative gain or loss that had been recognised in other comprehensive income is recognised in profit or loss", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-544": { "value": "Impairment of non-financial assets Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Goodwill is tested for impairment at least annually. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows (cash-generating units). The impairment test also can be performed on a single asset when the fair value less cost to sell or the value in use can be determined reliably. Non-financial assets other than goodwill that suffered impairment are reviewed for possible reversal of the impairment at each reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-511": { "value": "
Intangible assets
Intangible assets are stated at cost less accumulated amortisation. Intangible assets
are amortised using the straight-line method over their estimated useful life (see note
16).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-512": { "value": "Property, plant and equipment Property, plant and equipment assets are stated at historical cost less accumulated depreciation. Depreciation is provided on a straight-line basis to write off proportionally the cost of each asset over its estimated useful life. Assets that are subject to depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An asset\u2019s carrying amount is written down immediately to its recoverable amount if the asset\u2019s carrying amount is greater than its estimated recoverable amount. The recoverable amount is the higher of the asset\u2019s fair value less costs to sell and value in use. Gains and losses on disposals of fixed assets are determined by reference to their carrying amount and are charged to the Income statement. The assets residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. Asset maintenance costs are charged to the income statement when they are incurred. Significant improvements of assets are capitalised and depreciated over the remaining useful life period of the improved asset. Useful lives of property, plant and equipment are disclosed in Note 18. The accounting policy was revised to enhance transparency by measuring assets at fair value where possible, in line with prevailing market practice and regulatory expectations. The change has been applied prospectively. After the accounting policy change, for the buildings asset group, after initial recognition, subsequent measurement is carried out using the revaluation model, as specified in IAS 16. Under this model, buildings are presented at their revalued amount, which reflects the fair value at the date of revaluation, less accumulated depreciation and any accumulated impairment losses. Revaluation increases are recognized in other comprehensive income (OCI) and accumulated in equity under the revaluation reserve. Revaluations are performed at least once every three years, or more frequently if there are indications that the carrying amount of the buildings differs materially from their fair value due to changes in market conditions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-513": { "value": "
Leases
1. Group company is the lessee
Right-of-use assets and liabilities arising from lease are initially measured on
present value basis, discounted using the interest rate implicit in the lease. Lease
liabilities include fixed and variable payments (based on consumer index or
inflation rate). Lease payments to be made under reasonably certain extension
options are also included in the measurement of the liability. The discount
influence is recognised in finance cost as interest expense in income statement.
Right-of-use assets are measured at cost comprising the amount of the initial
measurement of lease liability, any initial direct costs, adjusted by advance
payments. Right-of-use assets are depreciated using the straight-line method
over rent period. The depreciation charge is recognised as depreciation expenses
in income statement. The duration of rent agreements are adjusted by the Group\u2018s
management assumptions on contract extensions. The expenses related to short-
term leases or to leases of low-value assets are included in other operating
expenses in income statement. Right-of-use assets are included in Property, plant
and equipment, lease liabilities are included in Other financial liabilities.
In determining the lease term, management considers all facts and circumstances
that create an economic incentive to exercise an extension option, or not exercise
a termination option. Extension options are only included in the lease term if the
lease is reasonably certain to be extended (or not terminated). If any leasehold
improvements are expected to have a significant remaining value, the Group is
typically reasonably certain to extend (or not terminate). Otherwise, the Group
considers other factors including the plans to continue an activity. Contracts may
contain both lease and non-lease components. The Group allocates the
consideration in the contract to the lease and non-lease components based on
their relative stand-alone prices. However, for leases of real estate for which the
Group is a lessee, it has elected not to separate lease and non-lease components
and instead accounts for these as a single lease component.
2. Group company is the lessor Operating leases Assets leased out under operating leases are included in tangible fixed assets in the statement of financial position. They are depreciated over their expected useful lives on a basis consistent with similar owned fixed assets. Rental income is recognised on a straight-line basis over the lease term. Finance leases A finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. Title may or may not eventually be transferred. When assets are held subject to a finance lease, the present value of the lease payments is recognised as a receivable. The difference between the gross receivable and the present value of the receivable is recognised as unearned finance income. Lease income is recognised over the term of the lease using the net investment method (before tax), which reflects a constant periodic rate of return", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-545": { "value": "Financial liabilities The Group\u2019s financial liabilities consist of those designated at fair value and those carried at amortised cost. Financial liabilities are derecognised when extinguished. Financial liabilities at fair value through profit or loss The group can designate certain liabilities upon initial recognition as at fair value through profit or loss (fair value option); this designation cannot be changed subsequently. Other liabilities measured at amortised cost Financial liabilities that are not classified as at fair value through profit or loss fall into this category and are measured at amortised cost. Financial liabilities measured at amortised cost are deposits from banks or customers, debt securities in issue, liabilities to special and lending funds as well as other various
financial liabilities. Initially they are recognised at fair value, and subsequently
stated at amortised cost, with any difference between net proceeds and the
redemption value recognised in the Income statement over their period using the
effective interest method.
Accounting policies for subordinated perpetual bonds
Under IAS 32, a financial instrument is classified as a financial liability if the
issuer has a contractual obligation to deliver cash or another financial asset. The
subordinated bond involves fixed interest payments, and the issuer's call option
does not alter this obligation. Bondholders do not have voting rights or ownership
rights in the issuer. The subordinated bond is recognized as a financial liability
based on the following criteria: (i) the issuer has a contractual obligation to pay
annual interest, (ii) the bond redemption, though at the issuer's discretion,
inevitably results in the return of the principal amount, (iii) write-down and write-
up features do not eliminate the obligation to pay interest, and (iv) bondholders
have no rights to the residual value of the Group or voting rights. Upon initial
recognition, the financial liability is measured at fair value, deducting directly
attributable transaction costs. These costs are amortized using the effective
interest rate method over an expected period.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-546": { "value": "
Provisions
Provisions are recognised when: the Group has a present legal or constructive
obligation as a result of past events; it is probable that an outflow of resources will be
required to settle the obligation; and the amount of the obligation can be reliably
estimated.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-514": { "value": "Dividends Dividends on the Bank\u2019s shares are recognized as liability in the period in which they are declared.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-515": { "value": "
Insurance and investment contracts classification and accounting
The contracts concluded by the Group are divided into insurance contracts (accounted
for in accordance with IFRS 17) and investment contracts (accounted for in
accordance with IFRS 9, except for investment contracts with discretionary
participation feature that are accounted for in accordance with IFRS 17) based on
accepted insurance and (or) financial risk.
A contract is not recognized as an insurance contract if the insurer accepts only
financial risks such as interest rate risk, equity prices risk, credit risk or other financial
risk but not significant insurance risk. A contract without significant insurance risk is
recognized as an investment contract.
A contract is recognized as an insurance contract only if it meets a definition for
contract with significant insurance risk. The significance of insurance risk is evaluated
at initial recognition for each contract, except for products for which the significance of
insurance risk is obvious (for example, Term life insurance, Endowment etc.). For such
products, the Group has decided not to evaluate the significance of insurance risk
separately for each contract and these contracts are recognized as insurance
contracts accounted for with IFRS 17 at the date of initial recognition. A contract which
at the date of initial recognition is recognized as insurance contracts, remains an
insurance contract until all rights and obligations expire.
The Group chooses to use 10 % limit for significant testing. The significance of
insurance risk is evaluated considering the (evaluated by probability) expected future
cashflows discounted using risk-free interest rate curve at initial recognition, including
additional amounts which would be payable in economic scenarios. The evaluation of
significance of insurance risk is based on the following two scenarios:
1. insurance event does not occur;
2. insurance event does occur with probability of 100%.
If additional amount payable due to the second scenario are higher than 10% of
amounts under the first scenario, then insurance risk is considered significant.
IFRS 17 requires separating the investment component from insurance contract only
if the investment component is distinct. Some of the Group\u2019s insurance contracts have
investment components however investment component and the insurance
component are not highly interrelated and investment component is not distinct
therefore the Group is not separating the investment component from the insurance
contracts. Receipts and payments from these investment components are excluded
from insurance contract revenue and insurance service expenses presented in profit
or loss.
Insurance contract liabilities
Application of IFRS17 introduces significant accounting and disclosure changes for
insurance contracts. All rights and obligations arising from the insurance contracts are
shown at fair value. Amounts related to reinsurance contracts held are presented
separately. This presentation of insurance and financial results provides a more
transparently the sources of profit and the quality of income generated.
In accordance to IFRS 17, the amounts shown in profit (loss) are divided into:
\u2022 Insurance service result, which consist of insurance revenue and insurance
service expenses; and
\u2022 insurance finance income and expenses.
Insurance revenue is a sum of expected benefits and expenses incurred, change in
the risk adjustment, contractual service margin recognized over period and recovery
of acquisition cashflows. Insurance service expenses is a sum of incurred claims
expenses, losses on onerous contracts and reversal of those losses, changes of
liability of incurred claims related to past service and insurance acquisition costs.
Insurance service result does not include investment components and cash-flow
changes related to future services (these changes ad adjusting the contractual service
margin).
Insurance finance income and expenses include the time value of money (discounting)
and changes in financial risks related to insurance contracts groups. The Group have
decided not to distribute the insurance finance income and expenses between profit
and loss and other comprehensive income statements.
In accordance with IFRS 17, the Group groups the insurance contracts into so-called
units of accounts. The purpose of such grouping is to ensure that profit would be
recognised over time proportionally to the insurance service provided while losses are
recognised immediately when the Group assesses that the contract is generating loss.
Setting off profit and loss between different insurance contracts groups is not allowed.
Insurance contracts are aggregated into insurance contracts groups based on such
three levels:
1. Portfolio \u2013 similar risk contracts managed together.
2. Profitability \u2013 contracts of same profitability.
It was determined that the portfolio of issued insurance contracts should be
divided into onerous and remaining groups, where the onerous group comprises
insurance contracts that, at initial recognition, are assessed as having a loss
component (LC). An insurance contract is assessed as having a loss component
when the risk-adjusted present value of the future cash flows is negative. After
initial recognition, no regrouping is performed in respect of profitability
3. Cohort \u2013 contracts which date of entry into force differ by more than one year.
Portfolio cohort period beginning is January 1st of each calendar year and
contracts of each portfolio are accounted using a one-year interval principle
(annual cohort). The insurance contracts within a portfolio acquired at 1
December 2023 were recognized at acquisition date and were group into 2023-
year cohort.
The Group has chosen to apply two of the models defined in IFRS 17 for evaluating
the insurance contracts:
\u2022 General Measurement Model, GMM, is applied to insurance contracts that
insures certain risk over the longer period of time.
\u2022 Variable Fee Approach, VFA, is applied to insurance contracts with investment
components and fulfilling the definition of contracts with direct participation
feature.
According to IFRS 17, the carrying value of a group of insurance contracts at end of
each reporting period is calculated by adding the liability for remaining coverage and
the liability for incurred claims, LIC. When evaluating these liabilities, the risk-adjusted
present value of future cash-flows (hereinafter - fulfilment cashflows) is estimate for
each unit of account, separately evaluating the present value of the future cash-flows
and risk adjustment for non-financial risks.
For unit of accounts without loss component, the liability for remaining coverage
consists of fulfilment cashflows and contractual service margin. At initial recognition,
the contractual service margin is equal to such amount which results in total liability
for remaining coverage equal to 0. In case, the contractual service margin at initial
recognition is negative, the contractual service margin is zeroized and the
corresponding negative value is recognized as loss component which directly impacts profit or loss. For evaluation of the liability for remaining coverage, the future cashflows of insurance contracts are modelled within the contract boundary. Due to long term insurance and the limited ability to reassess portfolio risk, the contract boundary is the same as contracts\u2019 maturity date. When evaluating the unit of account liabilities, the Group takes into account all future cashflows within the boundary of insurance contracts. Insurance acquisition cashflows is a separate cost category which is considered when evaluating the insurance liability of remaining coverage. Such cashflows include cashflows arising from insurance contracts group acquisition, distribution and commencement costs directly attributable to portfolio of insurance contracts to which that group belongs. When applying GMM and VFA methods, future expected attributable costs are affecting the amount of CSM and are recognized in profit (loss) during the remaining insurance coverage according to the respective coverage units. For the estimation of the present value of the expected future cashflows, the Group has decided to use discount rates derived by applying the bottom-up approach (described as a combination of risk-free curve and the liquidity premium). For the discounting of cashflows, the Group has decided to use the risk-free interest rate curves published by European Insurance and Occupational Pensions Authority (EIOPA). For the purpose to reflect the liquidity characteristics of the cashflows, for unit-linked products, the EIOPA risk-free interest rate without volatility adjustment is used, and for other products, as they are considered less liquid, the EIOPA risk-free rate with volatility adjustment is used. When applying GMM, the discount curves locked-in at initial recognition are used. As new contracts start uniformly over the year, the weighted average discount curve is locked-in which is derived by using end of each quarter/month risk-free rates and the contracts issued/written premiums during the respective period. When evaluating the insurance contract liabilities, the Group includes the risk adjustment for non-financial risk which is estimated separately from the expected future cashflows and defined as the compensation an entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non- financial risk as the Group fulfils insurance contracts. The Group chose to calculate risk adjustment based on Solvency II capital requirement before diversification. Assumption is made that all Solvency II non-financial risk (mortality, longevity, disability, validity, outflows and catastrophe risk) is distributed by normal distribution. The calculation of the risk adjustment is based on determining the risks at the reference date (t=0) and forecasting them based on a run-off pattern appropriate for each non-financial risk based on Coverage units. Based on the decision of the Group, the risk adjustment corresponds to a 75% confidence level of the derived non-financial risk distribution. The entire change in risk adjustment for non-financial risk is included as part of the insurance service result. The contractual service margin at the end of the accounting period shows profit from the units of account which has not yet been recognized as it relates to service that will be provided for insurance contracts in the future. In accordance with IFRS 17, the part of contractual service margin which is recognized as profit or loss in the period shows the service provided for the respective unit of account in that period. The amount allocated to a certain period is determined by identifying coverage units within the portfolio. The number of coverage units within a group of insurance contracts is the quantity of insurance contracts services provided by the contracts in the group, determined considering for each contract the quantity of the benefits provided under a contract and its expected coverage period (including expected surrenders). Based on Group\u2019s decision, coverage units are not discounted. The future cashflows for liability for incurred claims is estimated on the unit of account level, separately evaluating the present value of expected future cashflows and the risk adjustment for non-financial risk. The present value of the expected future cashflows for liability of incurred claims is estimated by evaluating the best estimate of incurred claim outpayments, forecasting the future cashflows using Group\u2019s historical claims settlement data and discounting the future cashflows by the respective risk-free interest rate curve. The risk adjustment for non-financial risk, as part of the liability for incurred claims, reflects the risk compensation related to the amounts of the incurred claims as well as the timing when the incurred claims will be settled, and corresponds to the confidence level of 75%. Investment contracts liabilities A contract without significant insurance risk is recognized as an investment contract. Under an investment contract the Group accepts only financial risks such as interest rate, equity prices, credit or other financial risk but not significant insurance risk. Investment contracts liabilities are measured by those contracts' portfolio market value, and the value of liabilities changes depending on the change in market value of related investments. Administrative and risk fees of investment contracts decrease investment contracts liabilities and are recognized as the Group\u2019s income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-516": { "value": "Segment information Operating segments are reported in accordance with the information analysed by the Executive Board (the chief operating decision-maker) of the Group, which is responsible for allocating resources to the reportable segments and assesses its performance. In relation to adjusted strategy of the Bank, business model and strategic decisions are divided into three business lines \u2013 corporate, private and investment: \u2022 Private segment \u2013 includes retail banking operations such as issuing loans and providing banking services to the customers and finance, lease and consumer financing services provided to private customers of the Group (includes financial information of the subsidiaries); \u2022 Corporate segment \u2013 includes corporate banking operations such as issuing loans and providing banking services provided to corporate customers of the Group (includes financial information of the subsidiaries); \u2022 Investment segment \u2013 includes banking treasury operations such as managing securities and liquidity portfolio, currency exchange etc. (includes financial information of the Bank and subsidiaries allocated to this segment). As the Group\u2019s segment operations, except for real estate development are all financial with a majority of revenues deriving from interest and the Group Executive Board relies primarily on net interest revenue to assess the performance of the segment, the total interest income and expense for all reportable segments is presented on a net basis. Also all other main items of the income statement are analysed by the management of the Group on segment basis therefore they are presented in the segment reporting. Transactions between the business segments are carried out at arm\u2019s length. The revenue from external parties reported to the Group Executive Board is measured in a manner consistent with that in the consolidated income statement. As the Group focuses on domestic activities, no geographical concentration is observed in Group\u2018s decision making. Due to the nature of Group\u2018s activities (financial services), capital expenditures are not important in the decision making process therefore not used in the segment reporting and total assets is more relevant indicator than the fixed asset amount.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-517": { "value": "
Fair value of assets and liabilities
Fair value represents the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the
measurement date. For more information, see part 4. Fair value of financial assets and
liabilities in Financial Risk Management.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-518": { "value": "Financial guarantee contracts, letters of credit and undrawn loan commitments Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due, in accordance with the terms of a debt instrument. Such financial guarantees are given to banks, financial institutions and other bodies on behalf of customers to secure loans, overdrafts and other banking facilities. Financial guarantees are initially recognised in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Bank\u2019s liabilities under such guarantees are measured at the higher of the amount of loss allowance and the premium received on initial recognition less income recognized in accordance with principles of IFRS 15. Undrawn loan commitments and letters of credits are commitments under which, over the duration of the commitment, the Bank is required to provide a loan with pre- specified terms to the customer. These contracts are in the scope of the ECL impairment recognition requirements", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-547": { "value": "Derivative financial instruments Derivatives are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at their fair value. Fair values are obtained from quoted market prices in active markets (for example, for exchange-traded options), including recent market transactions, and valuation techniques (for example for non-traded options), including discounted cash flow models and options pricing models, as appropriate. All derivatives are carried as assets when fair value is positive and as liabilities when fair value is negative. All derivative financial instruments are classified as held for trading.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-519": { "value": "
Hedge accounting
The Group applies fair value hedge accounting for micro hedging relationships. For
macro hedging relationships, hedge accounting continues to be applied under the
principles of IAS 39, consistent with the Group\u2019s existing portfolio hedge framework.
All fair value changes of both hedged items and hedging instruments are recognized
directly in profit or loss under Financial income/expense from valuation of fair value
hedging derivatives. The fair value adjustment of hedged items is presented in the
statement of financial position as Fair value changes of hedged items in fair value
portfolio hedge of interest rate risk. Hedging instruments are presented as Financial
assets or financial liabilities held for trading and hedging derivatives. For more
information, see note 21.
NOTE 21
HEDGE ACCOUNTING
Derivatives are financial instruments whose value depends on the price of other assets
(e.g. currencies, stocks, indices etc.). They can be used for different purposes
including risk management and hedging.
Bank\u2018s Hedge Accounting Policy was firstly introduced and approved in September
2025. The Bank applies the principles contained in IFRS 9 Financial Instruments with
respect to hedge accounting. However, in the case of fair value hedge of the interest
rate exposure of NMD portfolio (non-maturing deposits), the requirements of IAS 39
will be applied based on the provision 6.1.3 of IFRS 9.
The Bank's use of hedge accounting aims to symmetrically recognize in the profit and
loss account the offsetting changes in the fair value of the hedging instrument and the
hedged item.
The Bank primarily uses derivative financial instruments to hedge against interest rate
risk arising from its business activities, including hedging fair value of the hedged item
(i.e. hedged instrument) with an appropriate hedging derivative instrument.
Fair Value Hedge
The Group uses interest rate swaps to hedge exposure to changes in the fair value of
fixed-rate EUR notes issued and fixed-rate loans and advances arising from
movements in the \u20acSTR benchmark interest rate. Pay-fixed/receive-floating swaps are
designated against specific fixed-rate note issuances, while pay-floating/receive-fixed
swaps are designated against fixed-rate loans and advances. The terms of the
hedging instruments are closely aligned with those of the respective hedged items.
Hedge accounting is applied to fixed-rate EUR notes issued and fixed-rate loans and
advances whose fair values fluctuate due to changes in benchmark interest rates. The
Group designates hedging relationships only for benchmark interest rate risk, as
changes in fair value are significantly influenced by movements in \u20acSTR. Hedge
accounting is applied where an economic relationship exists and all relevant
accounting criteria are met.
The Group establishes hedge relationships by aligning the par amount of the fixed-
rate loan or note with the notional amount of the designated interest rate swap. Prior
to designation, and on an ongoing basis, the Group assesses whether an economic
relationship exists between the hedged item and the hedging instrument. This
assessment includes qualitative analysis supported by quantitative evaluation. The
Group ensures that the critical terms of the hedged item and the hedging instrument
are closely aligned and that both respond similarly to changes in the hedged risk.
In accordance with Group policy, a hedging relationship is considered effective where
all of the following quantitative criteria are met:
\u2022 The regression coefficient (R\u00b2), measuring the correlation between
variables in the regression analysis, is at least 0.8.
\u2022 The slope of the regression line falls within the range of 0.8 to 1.25.
\u2022 The confidence level of the slope is at least 95%.
The primary sources of hedge ineffectiveness arise from the impact of counterparty
credit risk and the Group\u2019s own credit risk on the fair value of the interest rate swaps,
which is not reflected in the fair value of the hedged items attributable to benchmark
interest rate risk, as well as from differences in maturities between the swaps and the
underlying loans or notes. No other material sources of ineffectiveness were identified.
The use of derivative financial instruments exposes the Group to counterparty credit
risk, which is not offset by the hedged item. To mitigate this risk, the Group transacts
with high-quality counterparties with credit ratings higher than A and requires collateral
posting and central clearing through central counterparties.
The effective portion of changes in the fair value of derivatives designated in qualifying
fair value hedges, together with the corresponding changes in the fair value of the
hedged items attributable to the hedged risk, is recognised in net interest income.
Effectiveness of hedge accounting:
Bank continually assesses effectiveness of hedge accounting. The hedging
relationships should meet all of the following effectiveness requirements (based on
IFRS 9 methodology):
\u2022 there is an economic relationship between the hedged item and the hedging
instrument,
\u2022 the effect of credit risk does not dominate the changes in value resulting from that
economic relationship,
\u2022 the hedging ratio of the hedging relationship is the same as the ratio resulting from
the quantity of the hedged item that the entity is actually hedging and the quantity
of the hedging instrument that the entity is actually using to hedge that amount of
the hedged item.
As at Year ending 2025, Bank did not recognise any hedge as ineffective.
Termination of the Hedging Relationship
In the event that the fair value hedge no longer meets the criteria for hedge accounting,
the adjustment to the carrying amount of the hedged item based on the value from the
last date on which the hedge met the effectiveness criteria is amortized on a straight
line basis to the profit and loss account for the remaining period until maturity (original
maturity date of given hedging relationship).
The Bank ceases to apply hedge accounting in the event that:
a) the purpose of risk management for the given relationship changes;
b) the hedging instrument expires, is sold, terminated or otherwise derecognised;
c) the expectation of executing the planned transaction is discontinued, the hedge
no longer meets the criteria for applying the hedge accounting principles
described above.
2025
Carrying amount
Accumulated hedge adjustment
included in the carrying amount
Bank
Nominal amount
Assets
Liabilities
Assets
Liabilities
Deposits outstanding (Portfolio Hedge)
600,000
-
599,534
-
281
Bonds outstanding (One-to-one hedges)
600,000
-
597,307
-
1,502
Total:
1,200,000
-
1,196,841
-
1,783
2025
Remaining contractual maturity
Bank
Less 1 Year
1-5 Years
Above 5 years
Portfolio Hedges
Nominal amount, Hedges assets
-
-
-
Average fixed interest rate (%), Hedges assets
-
-
-
Nominal amount, Hedges liabilities
400,000
200,000
-
Average fixed interest rate (%), Hedges liabilities
1.87
1.85
-
One-to-one hedges
Nominal amount
-
600,000
-
Average fixed interest rate (%)
-
2.11
-
Derivatives used for hedge accounting
Carrying
Carrying amount
Change in fair value used for
Ineffectiveness
Cost of hedging
2025
Bank
Nominal amount
amount
Liabilities
recognising hedge
recognised in
recognised in PL
Swaps hedging deposits
Assets
ineffectiveness
profit or loss
outstanding
600,000
525
-
-
(243)
Swaps hedging bonds outstanding
600,000
2,470
-
-
(967)
Total:
1,200,000
2,995
-
-
(1,210)
", "dimensions": { "concept": "ifrs-full:DisclosureOfHedgeAccountingExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-3": { "value": "FINANCIAL RISK MANAGEMENT Strategy in using financial instruments The Bank and the Group primarily operate through financial instruments, funding operations via customer deposits and interbank borrowings, which are invested in high-quality assets to generate strong interest margins. Liquidity is actively managed by consolidating short-term funds and lending long-term at higher rates. Strategic financing and investment decisions are made by the Bank\u2019s Board, while operational decisions are made at the divisional level and reflected in segment reporting. Risk management decisions are overseen by the Bank\u2019s Risk Management Committee. The Group aims to optimise interest margins by lending to a range of commercial and retail clients, including through off-balance sheet instruments like guarantees and letters of credit. Risk management focuses on balancing profitability with a conservative approach, ensuring adequate return on equity and efficient capital allocation. The Group\u2019s risk policy, approved by the Council, defines risk types and management principles. Given the interdependence of risks, risk management is centralised and coordinated by the Risk Management Committee. Policies and systems are reviewed at least annually to reflect market developments and best practices. A yearly self-assessment identifies key risks, including credit, market (currency, interest rate, and securities price), liquidity, concentration, operational, IT, model, compliance, and ESG risks. Other risks are considered immaterial. Risk management units operate independently from business functions to avoid conflicts of interest 1. CREDIT RISK Credit risk represents the potential loss the Group may incur if a customer fails to meet financial obligations. It arises primarily from lending activities, and also from debt securities, off-balance sheet exposures such as loan commitments, guarantees, and letters of credit\u2014making it the Group\u2019s most material risk. The Group\u2019s credit risk management framework, approved by the Board, sets out principles for identifying, measuring, and mitigating credit risk in line with regulatory requirements and best industry practices. These include lending policies, risk limits, internal controls, and audit procedures. Risk is only taken in areas where the Group has proven expertise, and the principle of prudence governs all credit decisions. Lending is primarily directed toward small and medium-sized enterprises (SMEs), defined as entities with fewer than 250 employees and assets or turnover below EU thresholds. The Group offers tailored solutions to SMEs, supporting their growth while maintaining sound credit quality. Large exposures are approached with enhanced scrutiny. New products or business lines are introduced only following a thorough risk assessment. All lending activities are governed by documented procedures aligned with internal control and risk management policies. The Group prioritises sustainable profitability over excessive risk-taking and ensures all credit-related decisions avoid conflicts of interest. The Group\u2019s credit risk management is continuously improved through staff training and benchmarking against domestic and international banking practices. 1.1. Credit risk measurement (a) Loans and receivables The Group applies credit risk management measures, which could be divided into two types: 1) Measures that help to avoid decisions to grant loans with higher risk potential; 2) Measures ensuring the effective monitoring system of the Group\u2019s asset quality. Measures that help to avoid decisions to grant loans with higher risk potential: 1) Multi-stage decision-making and its approval system; 2) Defined credit risk appetite, credit risk indicators and risk allocation among structural levels \u2013 limit establishment; 3) Customer risk assessment requirements set by internal procedures; 4) Credit standards and acceptable credit risk criteria for separate products; 5) Security measures for credit repayment (collateral). Multi-stage decision-making and its approval system has an aim not to make one-man decisions regarding credit granting by authorized persons but to make them be discussed by the collegial bodies of the Bank and, as the case may be, by the Bank\u2019s Loan Committee, the Bank\u2019s Board or Council. There are certain limits to authorized persons established regarding credit granting implementation as well as approval limits to collegial bodies. Limit establishment depends on the authorized persons\u2019 qualification, experience and the effectiveness of their managed branches; while in the Branch Committees and the Bank Loan Committee the attention is paid to the Committee members\u2019 qualification, experience and economic activity of the region, where the branch is located, the quality of loan portfolio and other factors. The level of involvement of second line of defence in decision making process, providing secondary opinion or/ and performing decision-making control is determined depending on the size of the loan and compliance with the credit standards. It is very important to precisely analyse all the information about the customer before granting the credit. The goal of credit analysis is to do the best in evaluating the customer\u2019s creditworthiness, status and prospects in the field where he/she provides his/her goods or services. Every credit decision is based on the adequate assessment of credit repayment possibilities proportionate to the size of exposure and level of possible risk. Providing credit first of all the Group analyses the borrower\u2019s financial capacity from the borrower\u2019s cash flows. The repayment of credits granted by the Group must be enough secure in order to minimize possible credit repayment risks. A security measure has to be chosen in accordance with the credit type. Providing credit first of all the Group analyses the borrower\u2019s financial capacity and credit repayment possibilities from the borrower\u2019s cash flows. Credit administration and constant credit monitoring is the main principle in the Group\u2019s security and reliability maintenance. The proper credit administration includes the timely updating of the borrower\u2019s credit file, providing with the latest financial information, the timely introduction of latest financial information to the database and preparation of the various documents and their amendments. The Bank\u2019s Credit Risk Management and Control Department collects and, if necessary, provides to responsible managerial personnel information on external conditions, the growth of the credit portfolio and fulfilment of targeted profit, expenses associated with risks, the largest amounts due from clients, distribution of credits by the type of economic activity, repayment terms past due, the largest clients with default possibilities, analysis of the credit portfolio by risk groups, changes in risk groups over a certain time period and other credit risk metrics. The Group establishes and implements the procedures, improves information systems for monitoring separate credits as well as loan portfolio. These procedures include the criteria for early indication of potentially impaired loans and other transactions. (b) Debt securities Credit risk exposures with respect to debt securities are managed by carrying out counterparty analysis when decision for acquisition of securities is made. The concentration risk together with lending exposure arising from debt securities portfolio is analysed and monitored on a regular basis by the Risk Management Committee of the Bank. (c) Credit-related commitments Other credit-related commitments assumed by the Group include guarantees, letters of documentary credit, commitments to grant a credit which expose the Group to the same credit risk as the loans do. The key aim of these instruments is to ensure that funds are available to a customer as required. The above guarantees and letters of documentary credit are usually collateralised by clients\u2019 funds in the Bank accounts. With regards to commitments to grant credit the Bank is exposed to loss equal to the unused commitment amount. 1.2. Control of risk limits and risk mitigation policy (a) Concentrations The Group manages, limits and controls concentration of credit risk \u2013 in particular, to individual counterparties and groups of the associated counterparties as well as to economic sectors. In addition to the supervisory requirements to limit the exposures to a single borrower and large exposures, the Group also sets exposure requirement, which to a single borrower may not exceed 15 percent of the Bank\u2019s capital. The Bank\u2019s Council must approve the higher limits. Prudential maximum exposure requirement to a single borrower is 25 percent. Concentration of credit risk of the Bank is disclosed in Section 1.7. of Financial Risk Management disclosure. The Group also sets limits to industry segments, i.e. a possible concentration in certain industries at the Group\u2019s level is restricted by the internal lending limits. The percentage and volume of lending limits are set for individual industries to ensure that the Group is not overly exposed to any particular economic sector in the country. The geographical concentration risk is not recognised in the Group\u2019s business since the principle of focusing on domestic customers is followed. Some other specific control and mitigation measures are outlined below. b) Collateral The Group mitigates credit risk by taking security for loans granted. The types of collateral considered by the Group as the most acceptable for loans and advances are the following: \u2022 Real estate (mainly residential properties, commercial and industrial real estate); \u2022 Business assets (equipment, inventory, transport vehicles); \u2022 Property rights over financial instruments (debt securities, equities); \u2022 Third party guarantees. Long-term financing and lending to corporate entities are generally secured; revolving facilities and consumer loans to private individuals are generally unsecured. In order to minimize the credit loss as the impairment indicators for the relevant individual loans and advances are noticed the Group seeks for additional collateral from the counterparty. While calculating a decrease in value for the loan the repayment of which is secured by the collateral, a cash flow from the security measure is also taken into consideration when determining the LGD factor. If several loans are insured with the same security measure (collateral), such security measure (collateral) is allocated according to rank of the pledge.Debt securities, treasury and other eligible bills are generally unsecured. For finance lease receivables the lender remains the owner of the leased object. Therefore, in case of customer\u2019s default the lender is able to gain control on the risk mitigation measures and realize them in rather short period. 1.3. Impairment and provisioning policies a) ECL model used by the Group Upon assessing impairment losses on loans, due to banks, debt securities at amortized cost and at fair value through other comprehensive income and other assets the Group follows the requirements expected credit loss (ECL) model prescribed in IFRS 9 Financial Instruments. The Group and the Bank carries out valuation of assets on a monthly basis, based on valuation policies approved by the Board of the Bank. The ECL is measured by the formula: PD x LGD x EAD = ECL Probability of default (PD): It represents the likelihood of a borrower on defaulting on its financial obligation; Loss given default (LGD): It represents the extent of loss the Group is likely to incur in case the borrower defaults; Exposure at default (EAD): It represents expected exposure at the time of the default. The financial assets are grouped into 3 stages: 1) Stage 1 financial assets \u2013 no significant increase in credit risk is observed since initial recognition. The Group uses low credit risk exemption and assigns all of the exposures with external investment grade credit rating or exposures with Standard internal credit rating to Stage 1. 12 months PDs apply to Stage 1 exposures; 2) Stage 2 financial assets \u2013 significant increase in credit risk is observed since initial recognition. The Group uses multiple criteria to assess whether the credit risk has increased. Main criteria include: credit rating decrease (external credit rating decrease by >=3 notches; A trigger is deemed to have occurred where an internal credit rating of 7, 8, or 9 is assigned. A trigger is also deemed to have occurred where an internal credit rating of 3\u20136 is assigned and has worsened by more than one rating grade compared to the initial risk classification. Furthermore, a trigger is deemed to have occurred where a financial condition rating of 6\u20137 is assigned, or where a financial condition rating of 3\u20135 has deteriorated by more than one notch relative to the initial financial condition rating (in the case of private individuals). In addition, for multi- apartment building renovation projects, a trigger is deemed to have occurred where a financial condition rating of 3\u20134 has deteriorated by at least one rating grade compared to the initial financial condition assessment, payment delays (>30 days past due financial assets are classified to Stage 2 unless there is observable evidence indicating otherwise), other observable criteria (restructuring, forbearance, inclusion in Watch List, other qualitative factors showing increased credit risk, Lifetime PD increase of more than 200% from inception). Lifetime PDs apply to Stage 2 exposures; 3) Stage 3 financial assets \u2013 credit-impaired financial assets. Main criteria for inclusion the asset in Stage 3 include: bankruptcy of the customer; termination of the contract; payment delay >90 days; non-performing exposure status by regulatory rules (i.e. the exposure is unlikely to be repaid in full without collateral realisation (irrespective of any past-due amount or of the number of days past- due)); other observable criteria. For Stage 3 exposures, the PD ratio is always equal to 1. Minimal provisions are also calculated in accordance to regulatory requirements for older non-performing loans. In case observable evidence is available, Group\u2019s employees responsible for impairment calculations can rank certain exposures to better or worse stage. The exposure ceases to be Stage 3 when it no longer meets the criteria for the consecutive period of at least 3 months. It should be noted that some of the regulatory non-performing exposure criteria have their own exit periods, therefore the period for an exposure to be classified out of Stage 3 may actually be longer. The Group calculates its own PDs for loans to customers, finance lease receivables and other assets and uses PDs published by the rating agencies for debt securities and due to banks. PDs for loans to customers and finance lease receivables are calculated using the historical data of Group\u2019s own lending portfolio. Full approach is applied for finance lease receivables as financial leases are part of Group\u2019s main activities. For this purpose, the Group uses migration matrices for the exposures grouped by the economic sector. The Group uses PDs published by rating agencies for debt securities and due from banks. For other financial assets, a simplified model derived from Group\u2019s lending data is used. For loans to customers and finance lease receivables, LGDs are estimated by the Group using the value of collateral available for each exposure individually and discounting by certain ratios over certain period of time. Ratios and recovery periods depend on the type of collateral and are derived from Group\u2019s own recovery experience. For consumer financing exposures, the LGDs are estimated on a exposure group level using the ultimate recovery rate historical data. For debt securities and due from banks, LGDs from rating agencies are used. For lending portfolio, Stage 1 EAD represents the expected exposure value over 12 month period and assumptions on the expected use of the off-balance sheet credit commitments; Stage 2 EAD represents the expected exposure value over the term of the loan and assumptions on the expected use of the off-balance sheet credit commitments. Stage 3 EAD is estimated as the total balance and off-balance sheet exposure. For debt securities, due from banks and other assets, gross exposure value is used as EAD estimate. Group\u2019s PD estimates incorporate forward-looking information. The Group transfers its historical (\u201cthrough the cycle\u201d) data to economic-situation specific (\u201cpoint-in-time\u201d) data by using models based on the expected economic development scenarios. The economic variables and their associated impact on the PD vary by financial instrument. The impact of economic variables on PD has been determined by performing statistical regression analysis. Expert judgement is also applied in the process. To include the impact of economic variables, the Group uses 3 economic scenarios (base case, optimistic, pessimistic) that are based on the forecasts published by the chief economist of Artea Bank and derives a single scenario based on the probabilities assigned to these scenarios. These probabilities are approved in ECL calculation procedure, any deviation from procedure is approved by the Board of the Bank. The assumptions underlying ECL calculations are subject to frequent review, the models used in ECL calculation are back tested against the actual performance data. In case of need, changes are made to the models. In 2024 EAD conversion factor was removed from calculating Stage 3 EAD exposure and Unsecured Recoveries was included in LGD calculation for stage 1,2 and 3 loans, resulting in an increase in expected credit loss (ECL) of EUR 2,995 thousand. The most significant assumptions used for the ECL estimates as at 31 December 2025 and 2024 are presented in the tables below:
Optimistic scenario
Base scenario
Pessimistic scenario
2025
2024
2025
2024
2025
2024
GDP Growth
4.00 %
4.00%
3.30 %
2.90%
3.70 %
1.90%
Change in manufacturing output
7.50 %
8.50%
5.00 %
6.50%
-2.50 %
3.00%
Unemployment
6.00%
5.70%
6.90%
6.80%
7.90%
8.50%
Change in housing prices
11.00 %
20.08%
10.00 %
6.28%
12.00 %
-15.18%
Change in salaries
11.00 %
11.50%
8.00 %
8.70%
8.00 %
4.00%
The macroeconomic scenarios for 2026\u20132028 reflect the assumption that the beginning of the forecast period is characterised by strong and largely temporary fiscal
temporary GDP growth, higher inflation, faster wage and housing price growth, and
signs of economic overheating.
stimuli, including an expansionary 2026 state budget, elevated defence spending, Given that such growth would be driven primarily by one-off domestic demand factors,
increasing EU and RRF inflows, and the impact of the II pillar pension reform. while externally oriented sectors show signs of weakness, the pessimistic scenario
The base scenario assumes a more moderate economic impact of these factors. The also incorporates a potential slowdown or recession in 2027\u20132028 once temporary
pessimistic scenario, however, assumes significant withdrawals from II pillar pension stimuli fade.
funds and their reallocation to consumption. In 2026, this could result in stronger but
Accordingly,
the
pessimistic
scenario
is
considered
to
better
reflect
the
risk
of
macroeconomic imbalances emerging and correcting over the medium term.
Scenario probabilities and weighted average GDP growth:
2026
2027
2028
2029
2030
Change in
Change in
Change in
Change in
Change in
At 31 December 2025:
Probability
Probability
Probability
Probability
Probability
salaries
salaries
salaries
salaries
salaries
Base scenario
8.00 %
60 %
7.00 %
60 %
5.80 %
60 %
5.20 %
60 %
5.20 %
60 %
Pessimistic scenario
8.00 %
25 %
4.00 %
25 %
3.00 %
25 %
3.00 %
25 %
3.00 %
25 %
Optimistic scenario
11.00 %
15 %
9.50 %
15 %
7.50 %
15 %
7.50 %
15 %
7.50 %
15 %
Weighted average GDP
8.45%
6.63%
5.36%
5.00%
5.00%
growth
The assumptions underlying ECL calculations are subject to frequent review, the models used in ECL calculation are back tested against the actual performance data. In case of need, changes are made to the models. In 2025 Redefault Rate was added into LGD calculation, FLI included into LGD and EAD, in Stage 2 classification Lifetime PD increase more than 200% from inception is observed. In 2024 EAD conversion factor was removed from calculating Stage 3 EAD exposure and Unsecured Recoveries was included in LGD calculation for stage 1,2 and 3 loans. The aggregate effect of the above-mentioned model and methodological changes led to a net increase in impairment provisions of EUR 1.7 million. b) Impairment loss sensitivity The most significant assumptions affected the estimated ECL, given the significant impact on the borrowers performance, real estate price level, given the significant impact on the collateral values and consumer financing portfolio recovery rates, given the significant impact on the ultimate recoveries of the unsecured borrowings. The table below provides sensitivity analysis of the above factors.
2025
2024
Group
Bank
Group
Bank
ECL
Equity
ECL
Equity
ECL
Equity
ECL
Equity
Scenario 1: Change in Salaries growth
-3,790
+3,032
-3,790
+3,032
-2,444
+1,955
-2,394
+1,115
increases by 2 p.p.
Scenario 2: Change in Salaries growth
+3,641
-2,913
+3,641
-2,913
+2,386
-1,909
+1,371
-1,097
decreases by 2 p.p.
Scenario 3: real estate prices increase
-1,496
+1,197
-1,496
+1,197
-1,356
+1,085
-1,356
+1,085
by 5%
Scenario 4: real estate prices decrease
+1,783
-1,426
+1,783
-1,426
+1,509
-1,207
+1,509
-1,207
by 5%
Scenario 5: consumer financing
-1,383
+1,106
-18
+14
-1,510
+1,208
-17
+14
portfolio recoveries increase by 5 p.p.
Scenario 6: consumer financing
+1,383
-1,106
+18
-14
+2,102
-1,682
+17
-14
portfolio recoveries decrease by 5 p.p.
c) write-offs The accumulated write-offs, including any amount constituting legal claims to the borrowers even if those amounts were never recognized on the balance sheet (the most common example of such cases is the difference between gross value and acquisition value of credit-impaired loans acquired by the Group) is presented in the table below:
2025
2024
Group
Bank
Group
Bank
Total accumulated write-offs subject to enforcement
31,038
29,387
37,855
36,367
of which: amounts written off during the year subject to enforcement
578
314
1,827
981
1.4. Maximum exposure to credit risk before collateral held or other credit enhancements The table below represents a maximum exposure of credit risk exposure at 31 December 2025 and 2024, without taking into account any collateral held or other credit enhancements attached. For on-balance sheet assets, the exposures presented above are net carrying amount as reported in the balance sheet.
2025
2024
Group
Bank
Group
Bank
Cash equivalents:
314,763
309,011
315,599
307,181
Balances in bank correspondent accounts
254,296
248,544
267,305
258,887
Placements with Central Bank
60,467
60,467
48,294
48,294
Loans to banks
9,035
9,035
3,121
3,121
Loans to customers:
3,713,724
3,691,955
3,434,597
3,421,904
Loans to financial institutions
23,476
324,249
20,287
311,104
Loans to individuals (Retail):
1,624,035
1,301,493
1,474,607
1 ,171,096
Mortgages
1,041,283
1,041,283
915,760
915,760
Consumer loans
324,409
1,867
305,329
1,818
Other (reverse repurchase agreements, other loans backed by securities, other)
203,216
203,216
210,393
210,393
Finance lease receivables
55,127
55,127
43,125
43,125
Loans to business customers:
2,066,213
2,066,213
1,939,703
1,939,703
Loans
1,773,931
1,773,931
1,665,932
1,665,932
Finance lease
292,282
292,282
273,771
273,771
Securities in the trading book
11,004
10,011
56,617
13,521
Derivative financial instruments
164
151
1,093
1,093
Investment securities at fair value
304,995
252,461
40,994
40,994
Investment securities at amortized cost
1,356,852
1,348,506
726,937
716,864
Other financial assets
8,210
7,345
7,258
6,559
Credit risk exposures relating to off \u2013balance sheet items are as follows:
526,763
567,334
481,608
491,831
Financial guarantees
61,975
62,025
87,985
87,985
Letters of credit
33,356
33,356
135
135
Loan commitments and other credit related liabilities
431,432
471,953
393,488
403,711
At 31 December
6,245,510
6,195,809
5,067,824
5,003,068
1.5. Loans to customers During the year ended 31 December 2025, the Group\u2019s gross loans and advances increased by 8%. The Group\u2019s total impairment provision for loans and advances amounts to EUR 55,259 thousand (2024: EUR 56,412 thousand) and it accounts for 1.47% of the respective portfolio (2024: 1.57%). a) Credit grades The Group and the Bank examines the potential borrower\u2019s financial performance before issuing a loan and monitors any development in financial performance during the whole loan service period. The Group and the Bank evaluates the borrower\u2019s financial performance at least annually. Consumer loans to individuals are assessed based on application scorings when decision is made. After they are granted they are monitored based on their past due status. The Group\u2019s finance lease receivables are recognized and measured in accordance with IFRS 16 \u2013 Leases. These receivables represent amounts due from customers under finance leases, which are accounted for at the present value of future lease payments. The Group assesses the credit risk associated with these receivables and applies impairment provisions in line with IFRS 9, recognizing expected credit losses (ECL). Finance lease receivables are subject to interest rate risk, and the Group ensures that any potential exposure is managed through effective hedging strategies and careful monitoring of the lease agreements. The Group also performs regular assessments to ensure the adequacy of impairment allowances based on the creditworthiness of lessees and the age of the receivables. During the year ended 31 December 2025, finance lease receivables portfolio of the Group increased by 9.63% (2024: increased by 10.6%). Total impairment provisions for finance lease receivables of the Group amount to EUR 5,901 thousand (2024: EUR 6,687 thousand) and account for 1.67% of the respective portfolio (2024: 2.07%).
2025
2024
Group
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Low risk
3,168,547
198,604
-
3,367,151
2,515,273
51,337
59
2,566,668
Medium risk
86,356
38,120
-
124,476
450,103
39,483
287
489,874
High risk
-
172,262
-
172,262
221,458
134,966
4,395
360,820
In defaut
-
-
105,094
105,094
-
-
73,647
73,648
Gross
3,254,903
408,986
105,094
3,768,983
3,186,834
225,786
78,389
3,491,010
Less: allowance for impairment
(21,008)
(13,002)
(21,249)
(55,259)
(30,309)
(6,046)
(20,058)
(56,413)
Net
3,233,895
395,984
83,845
3,713,724
3,156,525
219,740
58,331
3,434,597
2025
2024
Bank
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Low risk
2,863,602
196,605
-
3,060,207
2,497,327
341,561
-
2,838,888
Medium risk
86,356
324,343
-
410,699
399,824
37,672
-
437,496
High risk
-
167,773
-
167,773
369
117,114
-
117,483
In defaut
-
-
95,954
95,954
-
-
68,292
68,292
Gross
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
Less: allowance for impairment
(16,740)
(8,922)
(17,016)
(42,678)
(23,350)
(1,515)
(15,390)
(40,255)
Net
2,933,218
679,799
78,938
3,691,955
2,874,170
494,832
52,902
3,421,904
Loans by types and stages
2025
Group
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,481,902
125,080
42,519
(25,466)
1,624,035
Consumer loans
306,663
21,174
9,390
(12,818)
324,409
Mortgages
938,012
89,528
21,674
(7,931)
1,041,283
Finance lease receivables
46,626
9,286
1,068
(1,853)
55,127
Other
190,601
5,092
10,387
(2,864)
203,216
Total business customers
1,773,001
283,906
62,575
(29,793)
2,089,689
Finance lease receivables
272,544
19,099
4,688
(4,049)
292,282
Other loans
1,500,457
264,807
57,887
(25,744)
1,797,407
Total loans:
3,254,903
408,986
105,094
(55,259)
3,713,724
2024
Group
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,405,665
60,830
32,381
(24,270)
1,474,606
Consumer loans
290,985
20,403
10,290
(16,349)
305,329
Mortgages
871,504
33,673
12,756
(2,174)
915,759
Finance lease receivables
41,596
2,244
215
(931)
43,124
Other
201,580
4,510
9,120
(4,816)
210,394
Total business customers
1,781,171
164,956
46,007
(32,143)
1,959,991
Finance lease receivables
261,053
15,983
2,491
(5,756)
273,771
Other loans
1,520,118
148,973
43,516
(26,387)
1,686,220
Total loans:
3,186,836
225,786
78,388
(56,413)
3,434,597
2025
Bank
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,176,957
104,042
33,379
(12,885)
1,301,493
Consumer loans
1,718
136
250
(237)
1,867
Mortgages
938,012
89,528
21,674
(7,931)
1,041,283
Finance lease receivables
46,626
9,286
1,068
(1,853)
55,127
Other
190,601
5,092
10,387
(2,864)
203,216
Total business customers
1,773,001
584,679
62,575
(29,793)
2,390,462
Finance lease receivables
272,544
19,099
4,688
(4,049)
292,282
Other loans
1,500,457
565,580
57,887
(25,744)
2,098,180
Total loans:
2,949,958
688,721
95,954
(42,678)
3,691,955
2024
Bank
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,116,348
40,575
22,284
(8,112)
1,171,095
Consumer loans
1,670
147
192
(192)
1,817
Mortgages
871,504
33,674
12,757
(2,174)
915,761
Finance lease receivables
41,596
2,244
215
(931)
43,124
Other
201,578
4,510
9,120
(4,815)
210,393
Total business customers
1,781,172
455,772
46,008
(32,143)
2,250,809
Finance lease receivables
261,054
15,983
2,491
(5,756)
273,772
Other loans
1,520,118
439,789
43,517
(26,387)
1,977,037
Total loans:
2,897,520
496,347
68,292
(40,255)
3,421,904
For analysis of debt securities according to the credit quality see Notes 11 and 13. b) Payment delays The tables below provide an analysis of loans and advances to customers by payment delays. The Group considers a loan to be past due when the following criteria are met: for loans to individuals \u2013 overdue amount is higher than the lower of EUR 100 or 1% of total exposure; for loans to business customers \u2013 overdue amount is higher than the lower of EUR 500 or 1% of total exposure.
Group
2025
2024
Individuals
Business
Financial
Total
Individuals
Business
Financial
Total
(retail)
customers
institutions
(retail)
customers
institutions
Not past due
1,575,965
2,045,056
23,547
3,644,568
1,425,994
1,443,096
20,313
2,889,403
Past due up to 30 days
38,678
31,301
-
69,979
43,317
378,452
-
421,769
Past due 31-90 days
16,497
4,991
-
21,488
14,954
105,305
-
120,259
Past due more than 90 days
18,361
14,586
1
32,948
14,610
44,969
-
59,579
Gross
1,649,501
2,095,934
23,548
3,768,983
1,498,875
1,971,822
20,313
3,491,010
Less: allowance for impairment
(25,466)
(29,721)
(72)
(55,259)
(24,266)
(32,121)
(26)
(56,413)
Net
1,624,035
2,066,213
23,476
3,713,724
1,474,609
1,939,701
20,287
3,434,597
Bank
2025
2024
Individuals
Business
Financial
Total
Individuals
Business
Financial
Total
(retail)
customers
institutions
(retail)
customers
institutions
Not past due
1,266,678
2,045,056
324,320
3,636,054
1,132,824
1,443,096
311,131
2,887,051
Past due up to 30 days
22,907
31,301
-
54,208
27,279
378,452
-
405,731
Past due 31-90 days
11,191
4,991
-
16,182
9,851
105,305
-
115,156
Past due more than 90 days
13,602
14,586
1
28,189
9,254
44,969
-
54,223
Gross
1,314,378
2,095,934
324,321
3,734,633
1,179,208
1,971,822
311,131
3,462,161
Less: allowance for impairment
(12,885)
(29,721)
(72)
(42,678)
(8,110)
(32,121)
(26)
(40,257)
Net
1,301,493
2,066,213
324,249
3,691,955
1,171,098
1,939,701
311,105
3,421,904
c) Stage 3 loans and advances to customers The breakdown of the gross amount of Stage 3 loans and advances by class, along with the fair value of related collateral held by the Group and the Bank as security is as follows:
Group
2025
2024
Gross value
Allowance for
Net value
Fair value of
Gross value
Allowance for
Net value
Fair value of
Loans and advances to financial
impairment
collateral
impairment
collateral
institutions
1
1
-
-
-
-
-
-
Loans to individuals (Retail):
42,519
9,633
32,886
30,405
32,381
8,581
23,800
22,285
Consumer loans
9,390
4,378
5,012
-
10,290
4,766
5,524
192
Mortgages
21,674
3,077
18,597
21,487
12,756
1,950
10,806
12,757
Finance lease receivables
1,068
1,761
8,626
7,852
215
85
130
216
Other
10,387
417
651
1,066
9,120
1,780
7,340
9,120
Loans to business customers:
62,574
11,615
50,959
61,305
46,007
11,477
34,530
46,007
Finance lease receivables
4,688
1,285
3,403
4,671
2,491
921
1,570
2,491
Other loans
57,886
10,330
47,556
56,634
43,516
10,556
32,960
43,516
Total loans to customers
105,094
21,249
83,845
91,710
78,388
20,058
58,330
68,292
Bank
2025
2024
Gross value
Allowance for
Net value
Fair value of
Gross value
Allowance for
Net value
Fair value of
Loans and advances to financial
impairment
collateral
impairment
collateral
institutions
1
1
-
-
-
-
-
-
Loans to individuals (Retail):
33,379
5,400
27,979
30,405
22,284
3,913
18,372
22,285
Consumer loans
250
145
105
-
192
98
95
192
Mortgages
21,674
3,077
18,597
21,487
12,757
1,950
10,806
12,757
Finance lease receivables
10,387
1,761
8,626
7,852
215
85
131
216
Other
1,068
417
651
1,066
9,120
1,780
7,340
9,120
Loans to business customers:
62,575
11,615
50,959
61,305
46,008
11,477
34,530
46,007
Finance lease receivables
4,688
1,285
3,403
4,671
2,491
921
1,570
2,491
Other loans
57,887
10,330
47,556
56,634
43,517
10,556
32,960
43,516
Total loans to customers
95,954
17,016
78,938
91,710
68,292
15,390
52,902
68,292
Impairment loss by stages of financial assets for loans is disclosed in Note 12. d) Information about loan collateral The method for collateral valuation is selected by the Group and the Bank based on specifics of collateral and existing market conditions on the day of valuation. Based on collateral characteristics and the purpose of its valuation the following valuation methods are used: comparable sales price method or income capitalisation method. Fair values of the collateral are updated regularly in line with the Bank\u2019s procedures. If loan is secured by several different types of collateral, priority in their recognition is based on their liquidity. Cash deposits are treated as having the highest liquidity followed by guarantees, residential real estate and then other real estate. Securities that have no active market and other assets are treated as having the lowest liquidity. Unsecured loans also include loans secured by other types of collateral (e.g. future inflow of funds into the borrowers\u2019 Bank accounts (controlled by the Bank), third party warrantees, bills of exchange, etc.). The total amount of loans to individuals and business customers secured by the above security measure but disclosed as unsecured as at 31 December 2025 amounted to EUR 68 million (2024: EUR 54 million). Totally unsecured loans comprise only consumer loans and loans issued by the Bank to its subsidiaries. Risk Mitigation Measures for Finance Lease Receivables At initial recognition, the fair value of risk mitigation measures associated with finance lease receivables is determined using valuation methods appropriate to the asset type. For real estate and movable property, market values are applied. In subsequent periods, the fair value of these collateral assets is adjusted based on relevant depreciation rates and market conditions. When an exposure is secured by multiple collateral types, recognition priority is assigned based on asset liquidity. Transport vehicles are considered the most liquid, followed by residential real estate and other types of real estate. Equipment and miscellaneous assets are deemed the least liquid. As the lender retains legal ownership of the leased asset, it maintains the right to reclaim and realize the asset in the event of customer default, typically within a relatively short timeframe.
2025
2024
Group
Bank
Group
Bank
Loans to individuals (retail)
1,649,501
1,314,378
1,504,633
1,184,963
Consumer loans:
337,227
2,104
321,679
2,009
Unsecured loans
337,204
2,081
321,632
1,962
Other assets
23
23
47
47
Mortgages:
1,049,214
1,049,214
917,935
917,935
Residential real estate
1,049,214
1,049,214
917,935
917,935
Finance lease receivables:
56,980
56,980
49,812
49,812
Unsecured
408
408
4,805
4,805
Transport vehicles
56,547
56,547
43,709
43,709
Real estate
-
-
1,266
1,266
Equipment and other
25
25
32
32
Other loans:
206,080
206,080
215,207
215,207
Unsecured loans
81,505
81,505
71,274
71,274
Residential real estate
9,857
9,857
10,926
10,926
Other real estate
4,504
4,504
6,452
6,452
Guarantees
108,934
108,934
123,771
123,771
Other assets
1,280
1,280
2,784
2,784
Loans to business customers
2,095,934
2,095,934
1,966,063
1,966,063
Finance lease:
296,331
296,331
273,771
273,771
Unsecured
1,193
1,193
-
-
Transport vehicles
237,647
237,647
223,514
223,514
Real estate
15,617
15,617
15,777
15,777
Equipment and other
41,874
41,874
34,480
34,480
Other loans:
1,799,603
1,799,603
1,692,292
1,692,292
Residential real estate
207,062
207,062
185,771
185,771
Other real estate
1,592,541
1,592,541
1,494,367
1,494,367
Guarantees
-
-
2,487
2,487
Other assets
-
-
9,667
9,667
Financial institutions
23,548
324,321
20,313
311,131
Unsecured loans
-
300,773
-
290,818
Other real estate
-
-
5,458
5,458
guarantees
-
-
6,555
6,555
other assets
23,548
23,548
8,300
8,300
Grand total
3,768,983
3,734,633
3,491,009
3,462,157
Following tables show the distribution of LTV (loan to collateral value) ratios for the Group\u2019s loan portfolio:
Group \u2013 LTV
2025
2024
distribution
LTV ratio:
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Below 50%
1,770,705
256,390
66,232
2,093,327
1,674,549
146,504
46,720
1,867,773
50% to 60%
227,849
39,540
5,112
272,501
172,626
9,759
2,354
184,739
60% to 70%
200,788
22,558
4,448
227,794
168,661
24,318
4,502
197,481
70% to 80%
191,386
19,606
4,271
215,263
187,829
6,602
1,562
195,993
80% to 90%
191,133
15,962
1,851
208,946
167,283
3,099
1,435
171,817
90% to 100%
28,244
883
458
29,585
4,993
136
533
5,662
Above 100%
143,158
5,888
12,955
162,001
353,999
13,662
10,742
378,403
No collateral
501,640
48,159
9,767
559,566
456,896
21,706
10,540
489,142
Total Gross
3,254,903
408,986
105,094
3,768,983
3,186,836
225,786
78,388
3,491,010
Bank \u2013 LTV
2025
2024
distribution
LTV ratio:
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Below 50%
1,770,705
256,390
66,232
2,093,327
1,674,549
146,502
46,717
1,867,769
50% to 60%
227,849
39,540
5,112
272,501
172,626
9,759
2,354
184,739
60% to 70%
200,788
22,558
4,448
227,794
168,661
24,318
4,502
197,481
70% to 80%
191,386
19,606
4,271
215,263
187,829
6,603
1,562
195,994
80% to 90%
191,133
15,962
1,851
208,946
167,283
3,099
1,435
171,817
90% to 100%
28,244
883
458
29,585
4,993
136
533
5,662
Above 100%
143,158
5,888
12,955
162,001
353,997
13,662
10,743
378,402
No collateral
196,695
327,894
627
525,216
167,582
292,268
446
460,295
Total Gross
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
e) Loans with No Recognised Impairment Allowance Due to Collateral Coverage As part of the Group\u2019s credit risk assessment under IFRS 9, certain loans to customers are assessed to have a low risk of default and no impairment loss allowance is recognised due to the sufficiency of collateral held. These exposures are secured by collateral whose fair value is considered adequate to cover potential credit losses. The table below summarises such exposures (The Bank\u2019s figures are identical to those of the Group; therefore, only the Group amounts are disclosed):
Group, as at 31 December 2025
Stage 1
Stage 2
Stage 3
Total Gross Value
LTV
Loans to financial institutions
-
-
-
-
0%
Loans to individuals:
461
3
-
464
0%
Consumer loans
-
-
-
-
0%
Mortgages
74
3
-
77
0%
Financial lease receivables
2
-
-
2
0%
Other loans
385
-
-
385
0%
Loans to business customers:
4,682
-
25,334
30,016
3%
Financial lease receivables
4,682
-
25,025
29,707
3%
Other loans
-
-
309
309
3%
Total
5,143
3
25,334
30,480
1%
Group, as at 31 December 2024
Stage 1
Stage 2
Stage 3
Total Gross Value
LTV
Loans to financial institutions
-
-
-
-
0%
Loans to individuals:
5,317
1,827
4
7,149
4%
Consumer loans
-
1,487
-
1,487
15%
Mortgages
5,088
3
4
5,095
0%
Financial lease receivables
-
306
-
306
0%
Other loans
229
31
-
261
2%
Loans to business customers:
4,629
14,181
-
18,810
4%
Financial lease receivables
4,622
13,681
-
18,303
0%
Other loans
7
500
-
507
7%
Total
9,946
16,008
4
25,959
4%
f) Modifications of loans to customers The Group applies the legal treatment for loan contract amendments, meaning that modified loan contracts are treated as modifications. In 2025, the amortized cost before modification of loans with lifetime ECL (Expected Credit Loss) that were modified as part of the Group's restructuring activities amounted to EUR 127,683 thousand (2024: EUR 51,353 thousand), resulting in a net loss of EUR 8 thousand (2024: EUR 2 thousand). 1.6. Other financial assets Other financial assets consist of amounts receivable. The Group and Bank closely monitors the credit quality of other financial assets, with performance tracked based on aging and past due status. A regular assessment of counterparty creditworthiness is conducted, considering both historical data and forward-looking macroeconomic indicators.
Group
Bank
2025
2024
2025
2024
Individuals
Business
Total
Individuals
Business
Total
Individuals
Business
Total
Individuals
Business
Total
customers
customers
customers
customers
Stage 1
1,014
7,427
8,441
731
7,502
8,233
1,014
6,562
7,576
730
6,804
7,534
Stage 2
-
-
-
-
-
-
-
-
-
-
-
-
Stage 3
-
-
-
-
-
-
-
-
-
-
-
-
Gross
1,014
7,427
8,441
731
7,502
8,233
1,014
6,562
7,576
730
6,804
7,534
Less:
allowance
-
(231)
(231)
-
(975)
(975)
-
(231)
(231)
-
(975)
(975)
for
impairment
Net
1,014
7,196
8,210
731
6,527
7,258
1,014
6,331
7,345
730
5,829
6,559
1.7. Concentration of risks of financial assets with credit risk exposure Industry sectors The following table breaks down the main credit exposures at their carrying amounts, as categorized by the industry sectors of our counterparties.
Cash
Loans and due
Securities in the
Investment
Other financial
2025
Group
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
254,296
232,776
1,668
188,550
6,650
683,940
Wholesale and retail
-
215,579
-
548
23
216,150
Manufacturing
-
276,147
-
-
30
276,177
Real estate and rent
-
522,825
2,278
-
208
525,311
Construction
-
103,898
-
-
161
104,059
Agriculture
-
96,400
-
-
8
96,408
Public administration and defence
60,467
47,948
993
505,798
30
615,236
Transport, storage and communication
-
121,674
-
-
11
121,685
Health and social work
-
18,914
-
201
7
19,122
Loans to individuals
-
1,624,035
-
-
-
1,624,035
Other
-
462,563
6,092
1,166,451
1,246
1,636,352
Total
314,763
3,722,759
11,031
1,861,548
8,374
5,918,475
Cash
Loans and due
Securities in the
Investment
Other financial
2024
Group
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
267,305
146,504
174,911
17,924
5,904
612,548
Wholesale and retail
-
207,571
-
527
21
208,119
Manufacturing
-
264,934
-
8,585
41
273,560
Real estate and rent
-
471,230
1,507
-
303
473,040
Construction
-
165,823
-
-
18
165,841
Agriculture
-
101,825
-
-
4
101,829
Public administration and defence
48,294
98,034
23,059
719,949
7
889,343
Transport, storage and communication
-
44,677
-
-
16
44,693
Health and social work
-
62,398
-
1,202
1
63,601
Loans to individuals
-
1,474,607
-
-
-
1,474,607
Other
-
400,115
35,633
22,618
2,036
460,402
Total
315,599
3,437,718
235,110
770,805
8,351
4,767,583
Cash
Loans and due
Securities in the
Investment
Other financial
2025
Bank
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
248,544
533,549
1,668
2,401
5,785
791,947
Wholesale and retail
-
215,579
-
548
23
216,150
Manufacturing
-
276,147
-
-
30
276,177
Real estate and rent
-
522,825
2,278
-
208
525,311
Construction
-
103,898
-
-
161
104,059
Agriculture
-
96,400
-
-
8
96,408
Public administration and defence
60,467
47,948
-
468,221
30
576,666
Transport, storage and communication
-
121,674
-
-
11
121,685
Health and social work
-
18,914
-
-
7
18,921
Loans to individuals
-
1,301,493
-
-
-
1,301,493
Other
-
462,563
6,092
1,132,310
1,233
1,602,198
Total
309,011
3,700,990
10,038
1,603,480
7,496
5,631,015
Cash
Loans and due
Securities in the
Investment
Other financial
2024
Bank
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
258,887
437,321
7,959
16,705
5,205
726,077
Wholesale and retail
-
207,571
-
527
21
208,119
Manufacturing
-
264,934
-
8,585
41
273,560
Real estate and rent
-
471,230
1,507
-
303
473,040
Construction
-
165,823
-
-
18
165,841
Agriculture
-
101,825
-
-
4
101,829
Public administration and defence
48,294
98,034
-
714,410
7
860,745
Transport, storage and communication
-
44,677
-
-
16
44,693
Health and social work
-
62,398
-
1,002
1
63,401
Loans to individuals
-
1,171,096
-
-
-
1,171,096
Other
-
400,116
4,077
19,255
2,036
425,484
Total
307,181
3,425,025
13,543
760,484
7,652
4,513,885
2. LIQUIDITY RISK 2.1 Liquidity Risk Management Liquidity risk management within the Bank is based on its capacity to address potential cash shortages, primarily through access to market borrowing. The Bank's approach to liquidity risk management is designed to mitigate reliance on market funding, especially during times of liquidity stress. To this end, the Bank develops its liquidity strategy based on a scenario where it does not have access to market funding. A critical component of this strategy is the Bank's substantial portfolio of highly liquid debt securities. These securities can be used as collateral for repurchase agreements (repos) or sold if necessary. Liquidity risk management is governed by the Bank's Liquidity Risk Management Procedures, which are approved by the Management Board. The Bank assesses liquidity risk through the analysis of various liquidity ratios, with each ratio having defined limits for change as outlined in the aforementioned procedures. The Risk Management Committee makes decisions related to liquidity management, utilizing information provided by the Bank's Risk Department. The Board may also intervene, based on the information submitted by the Risk Management Committee. For short-term liquidity risk (up to 7 days), management is based on cash flow projections and short-term liquidity forecasts. The Bank's Market and Treasury Department is responsible for managing this process. The Group monitors both short-term and long-term liquidity risks through established liquidity ratios and limits. Since 2015, the Bank has been subject to regulatory requirements regarding the Liquidity Coverage Ratio (LCR). The Bank has consistently complied with the LCR requirement, maintaining a substantial cushion over the minimum required ratio of 100%. The Bank continued to enhance its liquidity risk management framework by updating its internal liquidity limit system to include normative, forward-looking, quality and concentration ratios. The Structure of the Bank's and Group\u2018s assets and liabilities by maturity presented in the tables below.
2025,
Group
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
390,057
-
-
-
-
-
-
-
390,057
Due from other banks
-
28
35
2,520
35
337
6,080
-
9,035
Securities in the trading book
-
228
49
89
2,388
8,129
121
27
11,031
Derivative financial instruments
-
54
90
20
-
-
-
-
164
Loans to customers
-
81,415
138,401
170,826
336,005
1,027,886
1,927,183
32,008
3,713,724
Investment securities at fair value
-
604
374
4,606
72,623
174,462
48,963
203,064
504,696
Investment securities at amortized cost
-
5,586
3,260
151,224
110,445
767,997
318,340
-
1,356,852
Investments in subsidiaries
-
-
-
-
-
-
-
270
270
Intangible assets
-
-
-
-
-
-
-
40,560
40,560
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,495
15,495
Other assets
2,595
9,881
851
8,492
1,492
325
4,062
5,888
33,586
Total assets
392,652
97,796
143,060
337,777
522,988
1,979,136
2,304,749
297,312
6,075,470
Due to other banks and financial institutions
159,490
7,800
12,551
1,647
5,225
339
10,158
-
197,210
Due to customers
2,097,643
212,631
343,238
460,422
655,661
178,150
13,456
-
3,961,201
Debt securities in issue
-
-
-
-
-
299,021
735,442
-
1,034,463
Liabilities related to insurance activities
-
2,098
635
772
2,880
13,301
193,224
-
212,910
Other liabilities
39,352
12,182
994
2,064
2,590
3,286
6,161
-
66,629
Shareholders\u2019 equity
-
-
-
-
-
-
-
603,057
603,057
Total liabilities and shareholders\u2019 equity
2,296,485
234,711
357,418
464,905
666,356
494,097
958,441
603,057
6,075,470
Net liquidity gap
(1,903,833)
(136,915)
(214,358)
(127,128)
(143,368)
1,485,039
1,346,308
(305,745)
-
Loan and other commitments
-
431,431
24
-
-
33,333
-
-
464,788
Guarantees
-
62,025
-
-
-
-
-
-
62,025
Off-balance
-
493,456
24
-
-
33,333
-
-
526,813
On
Up to 1
6 -12
Maturity
2024,
Group
1-3 months
3-6 months
1-3 years
Over 3 years
Total
demand
month
months
undefined
Cash and cash equivalents
395,136
-
-
-
-
-
-
-
395,136
Due from other banks
-
179
-
2,520
332
90
-
-
3,121
Securities in the trading book
-
5,193
1,164
2,130
8,503
15,200
24,427
178,493
235,110
Derivative financial instruments
-
726
353
14
-
-
-
-
1,093
Loans to customers
-
98,735
143,190
131,888
262,744
1,021,645
1,757,317
19,078
3,434,597
Investment securities at fair value
-
144
615
76
1,530
14,808
23,950
2,745
43,868
Investment securities at amortized cost
-
2,064
7,293
22,748
151,159
540,013
3,660
-
726,937
Investments in subsidiaries
-
-
-
-
-
-
-
270
270
Intangible assets
-
-
-
-
-
-
-
43,617
43,617
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,261
15,261
Other assets
154
8,961
605
831
1,028
3,586
77
8,367
23,609
Total assets
395,290
116,002
153,220
160,207
425,296
1,595,342
1,809,431
267,831
4,922,619
Due to other banks and financial institutions
110,489
9,002
9,801
24,153
32,180
34,654
9,545
-
229,824
Due to customers
1,591,789
149,058
278,689
555,924
579,604
220,072
21,909
-
3,397,045
Debt securities in issue
-
-
-
-
-
-
448,159
-
448,159
Liabilities related to insurance activities
4,091
233
469
1,763
11,321
180,555
198,432
Other liabilities
35,520
14,023
650
1,776
6,559
3,312
2,147
63,987
Shareholders\u2019 equity
-
-
-
-
-
-
-
585,172
585,172
Total liabilities and shareholders\u2019 equity
1,737,798
176,174
289,373
582,322
620,106
269,359
662,315
585,172
4,922,619
Net liquidity gap
(1,342,508)
(60,172)
(136,153)
(422,115)
(194,810)
1,325,983
1,147,116
(317,341)
-
Loan and other commitments
-
393,548
75
-
-
-
-
-
393,623
Guarantees
-
87,985
-
-
-
-
-
-
87,985
Off-balance
-
481,533
75
-
-
-
-
-
481,608
202
5, Bank
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
383,623
-
-
-
-
-
-
-
383,623
Due from other banks
-
28
35
2,520
35
337
6,080
-
9,035
Securities in the trading book
-
228
49
89
2,388
7,136
121
27
10,038
Derivative financial instruments
-
47
84
20
-
-
-
-
151
Loans to customers
-
74,662
414,927
143,271
287,959
905,162
1,845,458
20,516
3,691,955
Investment securities at fair value
-
454
278
4,318
72,275
161,886
9,887
5,876
254,974
Investment securities at amortized cost
-
5,570
2,810
150,762
104,366
767,191
317,807
-
1,348,506
Investments in subsidiaries
-
-
-
-
-
-
-
96,929
96,929
Intangible assets
-
-
-
-
-
-
-
6,498
6,498
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,183
15,183
Other assets
2,595
8,639
814
8,408
1,482
120
32
5,045
27,135
Total assets
386,218
89,628
418,997
309,388
468,505
1,841,832
2,179,385
150,074
5,844,027
Due to other banks and financial institutions
160,496
7,800
12,601
1,647
5,225
339
10,158
-
198,266
Due to customers
2,097,672
212,631
343,608
460,803
655,661
178,150
13,456
-
3,961,981
Debt securities in issue
-
-
-
-
-
299,021
735,442
-
1,034,463
Other liabilities
34,699
3,450
649
742
1,112
2,955
988
-
44,595
Shareholders\u2019 equity
-
-
-
-
-
-
-
604,722
604,722
Total liabilities and shareholders\u2019 equity
2,292,867
223,881
356,858
463,192
661,998
480,465
760,044
604,722
5,844,027
Net liquidity gap
(1,906,649)
(134,253)
62,139
(153,804)
(193,493)
1,361,367
1,419,341
(454,648)
-
Loan and other commitments
-
471,952
24
-
-
33,333
-
-
505,309
Guarantees
-
62,025
-
-
-
-
-
-
62,025
Off-balance
-
533,977
24
-
-
33,333
-
-
567,334
202
4, Bank
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
386,365
-
-
-
-
-
-
-
386,365
Due from other banks
-
179
-
2,520
332
90
-
-
3,121
Securities in the trading book
-
677
1,078
1,966
7,181
2,619
-
22
13,543
Derivative financial instruments
-
726
353
14
-
-
-
-
1,093
Loans to customers
-
89,808
414,469
106,240
218,560
908,373
1,676,938
7,516
3,421,904
Investment securities at fair value
-
15
615
76
1,530
14,808
23,950
2,626
43,620
Investment securities at amortized cost
-
2,063
7,074
22,687
150,373
533,643
1,024
-
716,864
Investments in subsidiaries
-
-
-
-
-
-
-
84,069
84,069
Intangible assets
-
-
-
-
-
-
-
7,859
7,859
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
14,689
14,689
Other assets
154
8,106
605
829
938
204
77
7,017
17,930
Total assets
386,519
101,574
424,194
134,332
378,914
1,459,737
1,701,989
123,798
4,711,057
Due to other banks and financial institutions
113,116
9,002
9,801
24,153
32,180
34,654
9,545
-
232,451
Due to customers
1,591,908
149,058
278,689
561,124
579,604
220,072
21,909
-
3,402,364
Debt securities in issue
-
-
-
-
-
-
448,159
-
448,159
Other liabilities
31,087
1,211
588
1,322
1,917
3,062
1,892
-
41,079
Shareholders\u2019 equity
-
-
-
-
-
-
-
587,004
587,004
Total liabilities and shareholders\u2019 equity
1,736,111
159,271
289,078
586,599
613,701
257,788
481,505
587,004
4,711,057
Net liquidity gap
(1,349,592)
(57,697)
135,116
(452,267)
(234,787)
1,201,949
1,220,484
(463,206)
-
Loan and other commitments
-
403,771
75
-
-
-
-
-
403,846
Guarantees
-
87,985
-
-
-
-
-
-
87,985
Off-balance
-
491,756
75
-
-
-
-
-
491,831
2.2 Non - derivative cash flow Undiscounted cash flows in the table below describe contractual liability side outflows which are stated including nominal contract amounts together with interest till the end of the contract.
2025,
Group
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
167,313
12,610
6,945
340
10,158
197,366
Debt securities in issue
-
4,350
8,295
38,598
434,616
758,740
1,244,599
Due to customers
-
2,309,971
346,067
1,134,041
180,377
14,542
3,984,998
Liabilities related to insurance activities
-
2,098
635
3,652
13,301
193,224
212,910
Total liabilities (contractual maturity dates)
-
2,483,732
367,607
1,183,236
628,634
976,664
5,639,873
2024,
Group
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
119,491
9,801
56,333
34,654
9,545
229,824
Debt securities in issue
-
-
-
-
-
448,159
448,159
Due to customers
-
1,740,847
278,689
1,135,528
220,072
21,909
3,397,045
Liabilities related to insurance activities
-
4,091
233
2,232
22,434
169,442
198,432
Total liabilities (contractual maturity dates)
-
1,864,429
288,723
1,194,093
277,160
649,055
4,273,460
2025,
Bank
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
168,319
12,660
6,945
340
10,158
198,422
Debt securities in issue
-
4,350
8,295
38,598
434,616
758,740
1,244,599
Due to customers
-
2,310,000
346,437
1,134,422
180,377
14,542
3,985,778
Total liabilities (contractual maturity dates)
-
2,482,669
367,392
1,179,965
615,333
783,440
5,428,799
2024,
Bank
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
122,118
9,801
56,333
34,654
9,545
232,451
Debt securities in issue
-
-
-
-
-
448,159
448,159
Due to customers
-
1,740,966
278,689
1,140,728
220,072
21,909
3,402,364
Total liabilities (contractual maturity dates)
-
1,863,084
288,490
1,197,061
254,726
479,613
4,082,974
3. MARKET RISK The Group takes on exposure to market risk, which means the risk for the Group to incur losses due to the adverse fluctuations in the market parameters such as currency exchange rates (foreign currency risk), interest rates (interest rate risk) or securities prices (securities risk). Securities and interest rate risks are the most significant market risks for the Group while other market risks are of lower significance. 3.1. Foreign exchange risk The management of the currency exchange risk is regulated by the \u201cCurrency Exchange Risk Management Procedures\u201d which specify the principles allowing the Group to reduce the incurred foreign currency fluctuation risk to minimum. The Group is not engaged in any speculative transactions through which it could expect to earn profit from the open currency positions after changes in currency rate. The limits are imposed by the Risk Management Committee and subject to review on demand. The Group and the Bank monitors the foreign currency risk by calculating open currency position. Open currency position (OCP) is equal to assets in the balance sheet and off-balance sheet less balance sheet and off-balance sheet liabilities in a single currency. There are two types of OCP, i.e. long and short. Long position means that Group\u2019s assets exceed liabilities in given currency, whereas short position means that liabilities exceed assets. The Financial Group and Bank also calculates Overall net open position (ONOP), which is the higher of the total short or total long positions. Open positions The Group\u2019s and Bank\u2019s open positions of prevailing currencies were as follows:
2025
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,553
7,346
377,158
390,057
Due from other banks
-
-
11,031
11,031
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
164
164
Loans granted to customers
-
-
3,713,724
3,713,724
Investment securities at fair value
2,448
228
502,020
504,696
Investment securities at amortized cost
-
-
1,356,852
1,356,852
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
40,560
40,560
Property, plant and equipment and investment property
-
-
15,495
15,495
Other assets
23
95
33,468
33,586
Total assets
8,024
7,669
6,059,777
6,075,470
Liabilities and Equity
Due to other banks and financial institutions
7,094
62
190,054
197,210
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,894,658
3,961,201
Debt securities in issue
-
-
1,034,463
1,034,463
Liabilities related to insurance activities
-
-
212,910
212,910
Other liabilities
2,730
92
60,481
63,303
Shareholders\u2019 equity
-
-
603,057
603,057
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,998,949
6,075,470
Net balance sheet position
(55,729)
(5,099)
60,828
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net position
2,347
375
(2,794)
(72)
2024
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,742
5,928
382,466
395,136
Due from other banks
-
-
235,110
235,110
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,434,597
3,434,597
Investment securities at fair value
3,780
229
39,859
43,868
Investment securities at amortized cost
-
-
726,937
726,937
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
43,617
43,617
Property, plant and equipment and investment property
-
-
15,261
15,261
Other assets
102
9
23,498
23,609
Total assets
10,624
6,166
4,905,829
4,922,619
Liabilities and Equity
Due to other banks and financial institutions
6,915
10
222,899
229,824
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,319,484
3,397,045
Debt securities in issue
-
-
448,159
448,159
Liabilities related to insurance activities
-
-
198,432
198,432
Other liabilities
4,037
85
59,742
63,864
Shareholders\u2019 equity
-
-
585,172
585,172
Total liabilities and shareholders\u2019 equity
76,915
11,693
4,834,011
4,922,619
Net balance sheet position
(66,291)
(5,527)
71,818
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net position
1,492
1,402
(3,487)
(593)
2025
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,521
7,346
370,756
383,623
Due from other banks
-
-
10,038
10,038
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
151
151
Loans granted to customers
-
-
3,691,955
3,691,955
Investment securities at fair value
258
-
254,716
254,974
Investment securities at amortized cost
-
-
1,348,506
1,348,506
Investments in subsidiaries
-
-
96,929
96,929
Intangible assets
-
-
6,498
6,498
Property, plant and equipment and investment property
-
-
15,183
15,183
Other assets
23
95
27,017
27,135
Total assets
5,802
7,441
5,830,784
5,844,027
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
7,094
62
191,110
198,266
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,895,438
3,961,981
Debt securities in issue
-
-
1,034,463
1,034,463
Other liabilities
2,730
92
38,447
41,269
Shareholders\u2019 equity
-
-
604,722
604,722
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,767,506
5,844,027
Net balance sheet position
(57,951)
(5,327)
63,278
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net open position
125
147
(344)
(72)
2024
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,671
5,921
373,773
386,365
Due from other banks
-
-
13,543
13,543
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,421,904
3,421,904
Investment securities at fair value
236
43,384
43,620
Investment securities at amortized cost
-
-
716,864
716,864
Investments in subsidiaries
-
-
84,069
84,069
Intangible assets
-
-
7,859
7,859
Property, plant and equipment and investment property
-
-
14,689
14,689
Other assets
102
9
17,819
17,930
Total assets
7,009
5,930
4,698,118
4,711,057
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
6,915
10
225,526
232,451
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,324,803
3,402,364
Debt securities in issue
-
-
448,159
448,159
Other liabilities
2,545
85
38,326
40,956
Shareholders\u2019 equity
-
-
587,004
587,004
Total liabilities and shareholders\u2019 equity
75,423
11,693
4,623,941
4,711,057
Net balance sheet position
(68,414)
(5,763)
74,177
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net open position
(631)
1,166
(1,128)
(593)
3.2. Interest rate risk in the banking book An interest rate risk is a risk to incur losses because of the mismatch of re-evaluation possibility between the Bank\u2019s and the Group\u2019s assets and liabilities. Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the value of a financial instrument will fluctuate because of changes in market interest rates. The Bank and the Group takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on both its fair value and cash flow risks. The risk management is regulated by the Interest Rate Risk in the Banking Book Management Policy, updated in 2025. Bank uses a system of internal risk limits and indicators, which establish methods of risk measurement and set up measures for risk management. These procedures are approved by the Board of the Bank and define that: \u2022 the Bank observes the principle to avoid the speculation with future interest rates; \u2022 the risk is evaluated using a system of internal key risk indicator; \u2022 Risk Department provides the information on regular basis to Risk Management Committee about compliance with internal risk limits. \u2022 the Group applies hedge accounting in order to mitigate exposure to interest rate fluctuations and the corresponding changes in the fair value of the hedged liability. Sensitivity of interest rate risk The table below summarises Group\u2019s interest rates sensitive assets and liabilities based on reprising dates based on which cash flow interest rate risk is estimated.
Group
Overnight
Up to 1 month
From 1 to 3 months
From 3 to 6 months
From 6 to 12 months
More than 1 year
31 December 2025
Total cashflow from interest
48,478
867,902
1,772,160
1,739,094
585,098
2,565,633
rate sensitive assets
Total cashflow from interest
1,160,269
516,531
1,112,565
684,266
940,248
2,011,531
rate sensitive liabilities
Net interest sensitivity gap
(1,111,791)
351,371
659,595
1,054,828
(355,150)
554,102
at 31 December 2025
31 December 2024
Total cashflow from interest
38,129
749,395
1,624,143
1,443,998
269,976
1,037,627
rate sensitive assets
Total cashflow from interest
1,077,544
164,179
294,067
613,427
613,817
1,386,223
rate sensitive liabilities
Net interest sensitivity gap
(1,039,415)
585,216
1,330,076
830,571
(343,841)
(348,596)
at 31 December 2024
Assessing the sensitivity of the Group's profit and other components of equity towards the change of interest rates, it has been assumed that interest is to change by 2 percentage point. The table below summarizes the effect on the Group's profit and other components of equity of interest rate risk in the banking book as at 31 December 2024 and 31 December 2025.
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Total impact on equity
Pre-tax increase
Pre-tax increase
Total impact on
(decrease) in
(decrease) in other
(post-tax)
(decrease) in profit
(decrease) in other
equity (post-
profit
components of equity
components of equity
tax)
Interest rate increase by 2 p.p.
21,007
(7,058)
13,949
38,408
(2,415)
35,993
Interest rate decrease by 2 p.p.
(21,108)
7,479
(13,629)
(38,867)
2,650
(36,217)
The table below summarises the Bank\u2019s interest rates sensitive assets and liabilities based on reprising dates based on which cash flow interest rate risk is estimate:
Bank
Overnight
Up to 1 month
From 1 to 3 months
From 3 to 6 months
From 6 to
More than 1 year
31 December 2025
12 months
Total cashflow from interest rate
48,437
866,141
1,735,187
1,703,256
522,506
2,303,250
sensitive assets
Total cashflow from interest rate
1,160,269
516,481
1,112,588
684,259
940,280
2,011,545
sensitive liabilities
Net interest sensitivity gap at 31
(1,111,832)
349,660
622,599
1,018,997
(417,774)
291,705
December 2025
31 December 2024
Total cashflow from interest rate
38,091
737,290
1,600,832
1,411,361
213,726
817,713
sensitive assets
Total cashflow from interest rate
1,077,551
164,181
293,940
613,495
613,902
1,386,233
sensitive liabilities
Net interest sensitivity gap at 31
(1,039,460)
573,109
1,306,892
797,866
(400,176)
(568,520)
December 2024
Assessing the sensitivity of the Bank's profit and other components of equity towards the change of interest rates, it has been assumed that interest is to change by 2 percentage point. The table below summarises the effect on the Bank's profit and other components of equity of interest rate risk in the banking book as at 31 December 2024 and 31 December 2025
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Pre-tax increase
(decrease) in other
Total impact on
Pre-tax increase
(decrease) in other
Total impact on
(decrease) in profit
components of
equity (post-tax)
(decrease) in profit
components of
equity (post-tax)
equity
equity
Interest rate increase by 2 p.p.
20,881
(6,534)
14,347
38,250
(2,360)
35,890
Interest rate decrease by 2 p.p.
(21,100)
6,905
(14,195)
(38,914)
2,592
(36,322)
The shift of yield curve according to above mentioned parameters creates significant impact on Bank\u2019s total comprehensive income and makes EUR 14,347 thousand in 2025 (2024: EUR 35,890 thousand) higher impact and EUR 14,195 thousand in 2025 (2024: EUR 36,322 thousand) lower impact on comprehensive income. 3.3. Securities risk Securities risk is the risk to incur losses from the investment in securities. The management of the securities risk is regulated by the Investment in Securities Limits Procedure. In order to properly manage the debt securities portfolio risk, the Bank uses an internal limit system that combines maturity/rating limits, geographical region limits imposed on total debt securities portfolio, VaR ratio limits imposed on debt securities at amortized cost portfolio, and VaR and capital requirements amount limits imposed on other debt securities portfolios. For the equity portfolio risk management, a limit system that combines decision taking limits, issuer limits, portfolio limits is used. The compliance with limits must be checked before taking the investment decisions, monthly reports on the compliance with the limits set are submitted to the Bank\u2019s Risk Management Committee. Securities concentrations Sector concentration of the securities portfolio is disclosed in Financial Risk Management disclosure, section 1.8. Maturities concentration of securities portfolio is disclosed in Financial Risk Management disclosure, section 3.2. Credit quality of the securities portfolio is disclosed in Notes 11 and Note 13. Geographical concentration of the debt securities portfolio is presented in tables below, which contain Top countries in which the Group and the Bank have exposures:
Group
2025
Name of the country
Government
Corporate
Total
2024
Name of the country
Government
Corporate
Total
1
Lithuania
489,280
15,103
504,383
1
Lithuania
654,785
24,264
679,049
2
Belgium
258,494
66
258,560
2
Latvia
70,486
9,873
80,359
3
Germany
200,190
1,501
201,691
3
Romania
5,345
1,461
6,806
4
France
180,307
4,095
184,402
4
Netherlands
-
6,453
6,453
5
Spain
126,078
-
126,078
5
France
-
5,678
5,678
6
Finland
83,605
204
83,809
6
Great Britain
-
5,574
5,574
7
Netherlands
71,676
3,030
74,706
7
USA
-
5,422
5,422
8
Italy
68,247
185
68,432
8
Czech Republic
209
4,979
5,188
9
Latvia
55,020
9,175
64,195
9
Poland
1,910
3,233
5,143
10
Austria
35,899
1,043
36,942
10
Slovenia
3,123
-
3,123
11
Luxenbourg
19,295
250
19,545
11
Luxembourg
-
2,250
2,250
12
Ireland
10,436
200
10,636
12
Peru
2,107
-
2,107
13
Slovenia
6,931
898
7,829
13
Germany
-
2,077
2,077
14
Peru
2,053
-
2,053
14
Mexico
2,025
-
2,025
15
United Kingdom
-
2,166
2,166
15
Italy
-
1,189
1,189
16
Other countries
15,668
14,296
29,964
16
Other countries
4,766
5,488
10,254
Total
1,623,179
52,212
1,675,391
Total
744,756
77,941
822,697
Bank
2025
Name of the country
Government
Corporate
Total
2024
Name of the country
Government
Corporate
Total
1
Lithuania
468,220
13,562
481,782
1
Lithuania
636,140
22,686
658,826
2
Belgium
257,000
66
257,066
2
Latvia
70,486
9,759
80,245
3
Germany
200,190
-
200,190
3
France
-
5,065
5,065
4
France
179,493
3,027
182,520
4
JAV
-
5,013
5,013
5
Spain
125,630
-
125,630
5
Netherlands
-
4,967
4,967
6
Finland
83,605
-
83,605
6
United Kingdom
-
4,941
4,941
7
Netherlands
71,676
1,414
73,090
7
Slovenia
3,123
-
3,123
8
Italy
68,247
185
68,432
8
Peru
2,107
-
2,107
9
Latvia
53,115
6,974
60,089
9
Czech Republic
-
2,090
2,090
10
Austria
35,899
-
35,899
10
Romania
2,049
-
2,049
11
Luxembourg
19,295
-
19,295
11
Luxembourg
-
2,000
2,000
12
Ireland
10,436
-
10,436
12
Italy
-
1,189
1,189
13
Slovenia
6,931
-
6,931
13
Germany
-
1,002
1,002
14
Peru
2,053
-
2,053
14
Spain
505
-
505
15
United Kingdom
-
1,965
1,965
15
Estonia
-
472
472
16
Other countries
1,034
3,501
4,535
16
Other countries
-
433
433
Total
1,582,824
30,694
1,613,518
Total
714,410
59,617
774,027
Sensitivity of securities risk The sensitivity of debt securities portfolio (at fair value through profit or loss \u2013 i.e. trading book is included in profit and at fair value through other comprehensive income is included in other components of equity) to parallel shift of the interest rate curve by 2 percentage point is presented in the table below:
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Total impact on
Pre-tax increase
Pre-tax increase
Total impact on
(decrease) in
(decrease) in other
equity (post-tax)
(decrease) in profit
(decrease) in other
equity (post-tax)
Group:
profit
components of equity
components of equity
Interest rate increase by 2 p.p.
(288)
(7,058)
(7,346)
(206)
(2,415)
(2,621)
Interest rate decrease by 2 p.p.
294
7,479
7,773
203
2,650
3,848
Bank:
Interest rate increase by 2 p.p.
(288)
(6,534)
(6,822)
(206)
(2,360)
(2,566)
Interest rate decrease by 2 p.p.
294
6,905
7,199
203
2,592
2,795
4. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES 4.1. Financial assets and liabilities not measured at fair value The table below summarizes the carrying amounts and fair values of those financial assets and liabilities not presented on the Bank\u2019s and Group\u2019s balance sheets at their fair value. The valuation methods for the assets and liabilities are summarized below. a) Loans and advances to banks The carrying amount of floating rate placements and overnight deposits is a reasonable approximation of fair value. The fair value of fixed interest bearing deposits is estimated using valuation technique attributable to Level 3 in the fair value hierarchy, based on discounted cash flows using prevailing money-market interest rates for debts with similar credit risk and remaining maturity. b) Loans and advances to customers and finance lease receivables Loans and advances and finance lease receivables are net of charges for impairment. The fair value of loans and advances to customers and finance lease receivables is estimated using valuation technique attributable to Level 3 in the fair value hierarchy. The estimated fair value of loans, advances and finance lease receivables represents the discounted amount of estimated future cash flows expected to be received. Expected cash flows are discounted at current market rates (average interest rates on outstanding loans published by the Bank of Lithuania) to determine fair value. c) Investment securities The fair value for held-to-collect assets is based on market prices or broker/dealer price quotations \u2013 i.e. it is estimated using valuation technique attributable to Level 1 in the fair value hierarchy. d) Deposits from banks, due to customers, debt securities in issue and special lending funds The estimated fair value of deposits with no stated maturity, which includes non- interest bearing deposits, is the amount repayable on demand. The fair value of fixed interest-bearing deposits, debt securities in issue and special and lending funds not quoted in an active market is estimated using valuation technique attributable to Level 3 in the fair value hierarchy based on discounted cash flows using interest rates for new debts with similar remaining maturity. Interest rates for new deposits of Artea Bank are used for calculation purposes as discount rates. e) Other financial assets and other financial liabilities The fair value of lease liabilities is estimated using valuation technique attributable to Level 3 in the fair value hierarchy based on discounted cash flows using interest rates for new leases with similar remaining maturity. The estimated fair value of other financial assets and liabilities is similar to the carrying value due to short maturities of these assets and liabilities.
Group
As of 31 December 2025
As of 31 December 2024
Assets
Carrying amount
Fair value
Carrying amount
Fair value
Due from other banks
9,035
9,035
3,121
3,121
Loans
3,713,724
3,721,864
3,434,598
3,440,081
Loans to individuals:
1,624,035
1,650,624
1,474,607
1,486,184
Consumer loans -
324,409
344,406
305,329
319,420
Mortgages -
1,041,283
1,040,214
915,760
906,702
Other -
203,216
207,001
210,393
211,375
Finance lease
55,127
59,003
43,125
48,687
Loans to business customers
2,066,213
2,049,972
1,939,704
1,936,491
Loans
1,773,931
1,786,639
1,665,932
1,636,621
Finance lease
292,282
263,333
273,772
299,870
Loans and advances to financial institutions
23,476
21,268
20,287
17,405
Investment securities at amortized cost
1,356,852
1,345,170
726,937
712,961
Government bonds -
1,343,750
1,335,602
695,622
686,774
Corporate bonds -
13,102
9,568
31,315
26,187
Other financial assets
8,210
8,210
7,258
7,258
Liabilities
Due to other banks and financial institutions
197,210
197,250
229,824
229,317
Due to customers
3,961,201
3,972,181
3,397,045
3,547,785
Due to individuals
2,498,821
2,508,812
2,254,475
2,196,105
Due to private companies
1,152,708
1,153,556
839,309
1,068,879
Due to other enterprises
309,672
309,813
303,261
282,801
Debt securities in issue
1,034,463
1,039,806
448,159
450,008
Other financial liabilities
45,020
47,228
46,426
47,228
Bank
As of 31 December 2025
As of 31 December 2024
Carrying amount
Fair value
Carrying amount
Fair value
Assets
Due from other banks
9,035
9,035
3,121
3,121
Loans
3,691,955
3,681,206
3,421,904
3,414,786
Loans to individuals:
1,301,493
1,308,089
1,171,096
1,168,567
Consumer loans -
1,867
1,871
1,818
1,803
Mortgages -
1,041,283
1,040,214
915,760
906,702
Other -
203,216
207,001
210,393
211,375
Finance lease
55,127
59,003
43,125
48,687
Loans to business customers
2,066,213
2,049,972
1,939,704
1,936,491
Loans
1,773,931
1,786,639
1,665,932
1,636,621
Finance lease
292,282
263,333
273,772
299,870
Loans and advances to financial institutions
324,249
323,145
311,104
309,728
Investment securities at amortized cost
1,348,506
1,344,936
716,864
713,388
Government bonds -
1,338,911
1,335,448
690,083
687,046
Corporate bonds -
9,595
9,488
26,781
26,342
Other financial assets
7,345
7,345
6,559
6,559
Liabilities
Due to other banks and financial institutions
198,266
198,306
232,451
231,944
Due to customers
3,961,981
3,972,961
3,402,364
3,412,177
Due to individuals
2,498,821
2,508,812
2,187,936
2,196,105
Due to private companies
1,153,488
1,154,336
908,795
910,234
Other
309,672
309,813
305,633
305,838
Debt securities in issue
1,034,463
1,039,806
448,159
450,008
Other financial liabilities
39,917
40,854
39,245
40,039
4.2. Financial assets and liabilities measured at fair value a) Fair value hierarchy The table below analyses financial instruments carried at fair value, by a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources; unobservable inputs reflect the Group\u2019s market assumptions. These two types of inputs have created the following fair value hierarchy: \u2022 Level 1 \u2013 quoted prices (unadjusted) in active markets for identical assets or liabilities. This level includes listed equity securities and debt instruments on exchanges (for example, NASDAQ Stock Exchange, London Stock Exchange, Frankfurt Stock Exchange) or public price quotations (for example, for Lithuanian government bonds, average price quotations from the most active banks that participate in the primary placement auctions of the Lithuanian Government securities are used). \u2022 Level 2 \u2013 inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices). The Group uses fair value calculated based on Level 2 inputs for accounting of currency derivatives and derivatives related to prices of equity instruments. \u2022 Level 3 \u2013 inputs for the asset or liability that are not based on observable market data (unobservable inputs). This level includes Group\u2019s investments into listed and unlisted equity securities, corporate bonds, investment fund units and Loans granted. Details on fair value measurement of these instruments are described in subsection \u201cDetails on the main models used in valuation of Level III instruments\u201d (Financial Risk Management disclosure, section 4.2.b), below. b) Measurement of financial assets and liabilities according to the fair value hierarchy
2025
Group
Bank
LEVEL I
LEVEL II
LEVEL III
LEVEL I
LEVEL II
LEVEL III
Financial assets in the trading book
1
8,765
2,429
1
8,752
1,436
Derivative financial instruments
-
164
-
-
151
-
Listed equity securities
1
26
-
1
26
-
Investment fund units
-
-
-
-
-
-
Government bonds
-
-
-
-
-
-
Corporate bonds
-
8,575
2,429
-
8,575
1,436
Investment securities at fair value
391,485
98,259
14,952
224,522
28,388
2,064
Government bonds
235,050
34,452
-
218,867
25,065
-
Corporate bonds
23,429
5,299
113,
5,655
3,323
66
Other listed equity securities
1,645
-
10,169
-
-
-
Unlisted equity securities
-
-
1,998
-
-
1,998
Investment fund units
131,361
58,508
2,672
-
-
-
Financial liabilities at fair value in profit or loss
-
3,326
-
-
3,326
-
Derivative financial instruments
-
3,326
-
-
3,326
-
Securitisation related financial assets
-
-
6,473
-
-
6,473
Unlisted equity securities
-
-
270
-
-
270
Loans granted
-
-
6,203
-
-
6,203
Total
391,486
110,350
23,854
224,523
40,466
9,973
2024
Group
Bank
LEVEL I
LEVEL II
LEVEL III
LEVEL I
LEVEL II
LEVEL III
Financial assets in the trading book
193,840
6,364
20,133
171
6,364
8,101
Derivative financial instruments
-
1,093
-
-
1,093
-
Listed equity securities
1,858
-
-
22
-
-
Investment fund units
163,435
-
12,032
-
-
-
Government bonds
10,789
-
-
-
-
-
Corporate bonds
17,758
5,271
8,101
149
5,271
8,101
Investment securities at fair value
10,255
46,850
2,629
10,255
30,984
2,381
Government bonds
-
36,597
-
-
24,327
-
Corporate bonds
10,255
9,084
-
10,255
6,657
-
Unlisted equity securities
-
-
541
-
-
293
Investment fund units
-
1,169
2,088
-
-
2,088
Financial liabilities at fair value in profit or loss
-
123
-
-
123
-
Derivative financial instruments
123
-
123
-
Securitisation related financial assets
-
-
6,407
-
-
6,407
Unlisted equity securities
-
-
270
-
-
270
Loans granted
-
-
6,137
-
-
6,137
Total
204,095
53,337
29,169
10,426
37,471
16,889
Details on the main models used in valuation of Level III instruments: Corporate bonds. The most commonly used fair value measurement technique in the Group is the valuation of discounted cash flows from securities performed using an internal model for the valuation of unlisted securities. Unlisted equity securities. Most commonly used fair value measures in the Group are valuations from external independent certified appraisers or assessment of discounted cash flows from the security carried out by employees of the Group. Investments funds. that are not publicly traded and/or whose net asset value or unit value is not determined daily are valued based on the most recently determined net asset value or the last published/submitted unit value. This value may be adjusted to reflect changes, such as significant events, capital calls, distributions of liabilities, income distributions, or other relevant factors. The Group's valuation is based on information provided by asset managers regarding net asset value or unit price. The Group does not prepare quantitative unobservable data, and such data is not available to the Group. Investment contracts of the Group may be terminated at any time, and contract holders are entitled to redeem the value of their contracts equal to the value of the associated assets. Consequently, investment contract liabilities are measured based on the market value of the financial instruments linked to those contracts.
2025
2024
Unobservable Input
Estimate Range
Estimate Range
Corporate bonds
Probablility of Default (PD)
0.5 \u2013 6 %
0.5 - 6 %
Discount Rate
4 - 12 %
4 - 14 %
Unlisted equity securities
Discount Rate (WACC)
8 - 13 %
8 - 15 %
Investments funds
Fund-reported NAV
Investment based
Investment based
4.3. Offsetting financial assets and financial liabilities As of 31 December 2025, and 31 December 2024, only currency derivative instruments were subject to master netting arrangements and similar arrangements. As of 31 December 2025, derivative financial instruments classified as assets in amount of EUR 3,326 thousand and derivative financial instruments classified as liabilities in amount of EUR 164 thousand were subject to those agreements. As of 31 December 2024, derivative financial instruments classified as assets in amount of EUR 123 thousand and derivative financial instruments classified as liabilities in amount of EUR 1,093 thousand were subject to those agreements. The Group receives collateral in the form of marketable securities in respect of reverse repurchase agreements, which are included in loans to customers. Gross amount of reverse repurchase agreements: 31 December 2025: EUR 30,971 thousand; 31 December 2024: EUR 30,189 thousand. Securities received as a collateral for reverse repurchase agreements can be pledged or sold during the term of transaction but have to be returned on maturity of the transaction. The Group did not pledge or sell any collateral received for reverse repurchase agreements during 2025 and 2024. 5. THE RISK INHERENT IN INSURANCE ACTIVITIES Insurance risk Refers to the risk of loss or the risk associated with unfavorable changes in the value of insurance liabilities, which can result from inappropriate pricing and provisioning assumptions. Under the terms of an insurance contract, the Group assumes the responsibility for protecting the financial interests of individuals in exchange for an insurance premium, contingent upon the occurrence of insured events. Consequently, there is a risk of incurring losses if the insurance risk is not accurately assessed, or if the premiums calculated do not adequately cover the actual insurance benefits and associated costs. The Group assumes various insurance risks, including those related to mortality, morbidity, survival, accidental death, injury, contract termination, expenses, and catastrophic events. These risks may arise from overly optimistic assumptions about future mortality rates, morbidity rates, and injury frequency used in the pricing of insurance premiums. If these assumptions are inaccurate, the premiums collected may not be sufficient to cover future claims related to death, illness, or injury. The risks related to mortality, morbidity, and injury can be influenced by factors such as the emergence of epidemics, pandemics, changes in lifestyle (e.g., diet, smoking habits, physical activity), and environmental factors. The risk of survival is linked to the possibility of individuals living longer than anticipated. This trend is driven by advances in medical science, improvements in healthcare systems, and higher living standards. Additionally, the risk of injury may increase due to poor adherence to occupational safety standards, outdated technologies, or rising accident rates. To manage these insurance risks, the Group evaluates various factors, such as the health status of the insured individuals, their lifestyle habits, and family medical history. A comprehensive, multi-level risk assessment system is in place, which aligns the insurance premiums with the health and risk profile of each policyholder, ensuring that the premiums charged correspond appropriately to the level of risk assumed. The Group manages these risks through its underwriting strategy and reinsurance arrangements. The underwriting strategy is intended to ensure that the risks underwritten are well diversified in terms of type of risk and the level of insured benefits. The Group follows the principles of conservatism and prudence to settle the price for insurance risk therefore the increase in loss rate of any insurance risk would not impact the result of the Group significantly. Insurance risk sensitivity analysis Sensitivity analysis is carried out by changing the corresponding assumption with the indicated value, leaving the sizes of other variables unchanged. The reinsurance effect on the performed sensitivity analysis is immaterial. The Group's sensitivity to changes in variables that have a significant impact on December 31, 2025 and 2024:
Change Contractual service
2025
,
In thousand EUR
Change in variables
margin
Change in Profit or loss
Change in Equity
Mortality rates
+10%
(1,146)
(190)
190
Mortality rates
-10%
1,228
165
(165)
Disability/Morbidity
+10%
(2,374)
(383)
383
Disability/Morbidity
-10%
2,386
341
(341)
Lapse rates
+10%
(3,984)
(387)
387
Lapse rates
-10%
5,074
482
(482)
Expenses
+10%
(3,765)
(1,067)
1,067
Expenses
-10%
3,797
1,035
(1,035)
Change Contractual service
2024,
In thousand EUR
Change in variables
margin
Change in Profit or loss
Change in Equity
Mortality rates
+10%
(1,395)
(827)
827
Mortality rates
-10%
1,324
756
(756)
Disability/Morbidity
+10%
(1,714)
(689)
689
Disability/Morbidity
-10%
1,717
690
(690)
Lapse rates
+10%
(4,286)
(530)
530
Lapse rates
-10%
5,416
727
(727)
Expenses
+10%
(2,751)
(1,303)
1,303
Expenses
-10%
2,781
1,272
(1,272)
6. OPERATIONAL RISK Operational risk is the risk of experiencing losses due to improper or unimplemented internal control processes, employee errors and/or illegal actions, disruptions in information system operations, or the influence of external events. Operational risk, unlike other types of risks (credit, market, liquidity), is not intentionally assumed with the expectation of gaining benefits; it arises naturally in the course of the Bank's activities. In 2025, the Bank consistently reinforced a culture of operational and reputational risk management across the entire Banking Group, with the aim of enhancing operational resilience and compliance with applicable supervisory requirements. At the beginning of the year, e-learning modules on operational risk management were updated for all Group companies, and the Operational Risk Management Procedure was thoroughly reviewed and revised. Particular focus was placed on the management of outsourcing arrangements and information and communication technology (ICT) services, in light of increasingly stringent regulatory requirements in the areas of operational resilience and third-party risk. In 2025, the Procedure for the Management of Outsourced and ICT Services was updated to strengthen risk assessment, control, and oversight mechanisms. Business continuity management remains a strategic priority for the Bank and a critical component of the operational resilience framework. In 2025, the Business Continuity Management Procedure was updated to ensure full alignment with the requirements of the international standard ISO 22301. In October, a comprehensive business continuity test conducted at the Bank confirmed the effectiveness of the established measures, no significant deficiencies that could adversely affect the Bank\u2019s ability to maintain business continuity were identified. To further strengthen operational resilience and ensure the stable and reliable performance of critical functions, the Bank will continue to enhance its business continuity management framework and oversight systems for outsourced and information and communication technology (ICT) services, while concurrently reinforcing its operational and reputational risk management culture. Implementation and monitoring in these areas will be carried out consistently and on a centralized basis across the entire Group. 7. ICT RISK ICT (Information and Communication Technology) risk refers to any identifiable circumstance related to the use of network and information systems that, if realized, could compromise the confidentiality, integrity, or availability of technology-dependent tools, processes, or services\u2014impacting both digital and physical operations. The primary objective of the Bank\u2019s ICT risk management framework is to assess the likelihood and potential impact of ICT-related losses, maintain an optimal balance between risk exposure and investment in risk mitigation, and ensure early identification and effective management of vulnerabilities. This framework is designed in alignment with the Bank Group\u2019s ICT risk appetite, regulatory requirements, and international best practices, and includes a commitment to continuous improvement. The Bank employs a comprehensive ICT risk management and internal control system. This includes: \u2022 Clearly defined ICT risk governance and processes; \u2022 Continuous monitoring through key risk indicators and thresholds; \u2022 Systematic identification, assessment, and mitigation of ICT risks; \u2022 Ongoing enhancements based on practical experience and industry developments. As digital technologies evolve and become increasingly integral to banking operations, they simultaneously introduce new ICT and cyber risks. In response, the Bank continues to strengthen its digital resilience, with a focus on: Implementation and enhancement of preventive, detective, and corrective cybersecurity controls; Regular testing of the operational continuity of critical systems; Cyber resilience exercises and technical reviews to ensure the security and availability of systems and data. The Group continuously strengthens its cyber resilience, invests in preventive and corrective security measures, regularly performs testing and assesses system reliability. In 2025, the Group further improved system availability, the continuous monitoring of system performance and security posture, and the response to security threats. The Bank remains committed to proactively managing ICT risk and safeguarding operational stability across the Group, in line with evolving regulatory standards and investor expectation. 8. COMPLIANCE RISK Compliance risk refers to the risk of legal or regulatory breaches resulting from the Bank\u2019s actions or omissions, including failures to adhere to applicable laws, supervisory guidelines (such as those from the Bank of Lithuania and other regulatory authorities), internal policies, or standards of conduct. Non-compliance can lead to enforcement actions, financial penalties, reputational damage, and adverse impacts on client trust and the Bank\u2019s operational integrity. The Bank places significant emphasis and priority on ensuring compliance, systematically identifying, assessing, and managing compliance risks across all levels of the organization. The scope of compliance oversight is tailored to reflect the size, complexity, and risk profile of the Bank\u2019s activities and transactions. An annual risk- based compliance assessment is conducted to evaluate exposure and inform senior management of key risks and corresponding mitigation strategies. In 2025, the compliance function remained a critical component of the Bank\u2019s risk management infrastructure. Key areas of focus included: \u2022 Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF); \u2022 Sanctions compliance, data protection, and anti-corruption initiatives; \u2022 Financial market regulation, investment services oversight, and market abuse prevention. Significant efforts were directed toward strengthening second-line compliance control functions and implementing targeted training programs to reinforce compliance awareness and accountability across the Group. The compliance function is embedded within the Legal, Compliance, and Prevention Division and operates through two specialized departments: \u2022 The Compliance Department, which oversees general regulatory compliance and ensures adherence in the provision of investment services; \u2022 The Anti-Money Laundering Compliance Department, which focuses on AML/CTF obligations and the implementation of international sanctions frameworks. Throughout 2025, the Group enhanced its compliance monitoring and internal control systems, conducted staff training, and reinforced policies to mitigate legal/compliance and reputational risks. These efforts support the Bank\u2019s commitment to regulatory compliance, ethical conduct, and long-term operational resilience. 9. MODEL RISK Model risk is defined as the potential for financial loss, inaccurate business decisions, or misleading disclosures resulting from the inappropriate use or design of models. As models play a critical role in areas such as risk assessment, financial reporting, and decision-making, their reliability and integrity are essential to the Bank\u2019s sound governance and performance. The Bank manages model risk through a structured and risk-based framework governed by a dedicated Model Risk Policy, which is regularly reviewed and updated to reflect regulatory expectations and best practices. This framework ensures that model risk is identified, assessed, monitored, and mitigated effectively across the Group. Key elements of the model risk management approach include: \u2022 Comprehensive model inventory: All models used across the Bank are catalogued and tracked; \u2022 Risk-based model classification: Models are assessed for materiality and complexity, which informs prioritization for independent validation; \u2022 Independent model validation: High-impact models undergo rigorous, objective reviews to confirm their accuracy and appropriateness; \u2022 Defined model risk appetite: The Bank\u2019s risk appetite statement outlines the acceptable level of model risk, supporting consistent decision-making; \u2022 Remediation of deficiencies: The use of unreliable or unsatisfactory models is not permitted, and any identified weaknesses are addressed in a timely manner. Throughout 2025, the Group continued to strengthen its model governance by applying risk-based methodologies, enhancing validation processes, and ensuring ongoing oversight of model performance and use. These efforts help safeguard the Bank\u2019s financial stability, regulatory compliance, and strategic decision-making integrity. 10. ESG RISK ESG (Environmental, social and governance) risks are the risks of any negative financial impact on the Bank stemming from the current or prospective impacts of ESG factors on its counterparties or invested assets. The Environmental risk is further mainly defined as Climate-related and environmental risk, consisting of physical and transition risk: \u2022 Physical risk, which is the risks of any negative financial impact on the institution stemming from the current or prospective impacts of the physical effects of environmental factors on its counterparties or invested assets. \u2022 Transition risk, which is the risks of any negative financial impact on the institution stemming from the current or prospective impacts of the transition to an environmentally sustainable economy on its counterparties or invested assets. More detailed information on the Group's risk exposure and its management is provided in the Sustainability Information section of the Management Report. 11. STRESS TESTS The Group develops test scenarios and assesses the solvency position under the identified stress scenarios, taking into account possible internal and external environmental changes, historical data, market forecasts and other relevant criteria. The results of the testing shall be analysed, documented and used for risk and strategy review as well as business plan development. Stress testing is an integral part of the Bank's Internal Capital Adequacy Assessment Process (ICAAP), covering risks identified as material. It assesses whether the Group's capital would be sufficient to absorb potential losses in the event of a deterioration in its financial condition. In accordance with supervisory requirements, all risks are tested once a year. The Group also employs the Own Risk and Solvency Assessment (ORSA) process as part of its risk management system. This process determines the projected solvency position of the Company, as well as the amount of own funds required to ensure that overall solvency needs are met throughout the planning period. It takes into account the nature, scale, and complexity of the risks inherent to the business. The ORSA process begins with business planning. Based on the objectives set out in the Company\u2019s business plan, financial performance, and projected asset and insurance liability volumes, a forward-looking solvency capital assessment is conducted. Additionally, adverse scenario testing is performed, considering potential internal and external environmental changes, historical data, market forecasts, and other relevant factors for the Company, to evaluate solvency under predefined stress test. Ad hoc stress tests for separate risks are performed in case there is a need to understand the possible impacts of underlying factors. 12. CAPITAL MANAGEMENT The Bank and its subsidiaries, within the prudential scope of consolidation (the Financial Group, see Note 28), manage capital in accordance with the Capital Requirements Regulation and Directive (CRR/CRD IV). Capital is allocated to ensure adequate risk coverage and to support the Group\u2019s financial stability and growth objectives. Objectives of Capital Management: \u2022 Regulatory Compliance: To meet the capital requirements set by the European Parliament and the Council, as well as the Bank\u2019s internal capital targets. \u2022 Going Concern Assurance: To maintain a strong capital position that supports the Group\u2019s long-term sustainability and ability to generate value for shareholders and other stakeholders. \u2022 Business Growth: To underpin the development and expansion of Group activities through a resilient capital base. The Bank submits capital adequacy reports to the supervisory authority on a quarterly basis, in full compliance with CRR/CRD IV provisions. For the years ended 31 December 2025 and 31 December 2024, both the Bank and the Financial Group complied with all applicable capital requirements. Solvency II Compliance (Artea Life Insurance UAB) The Bank\u2019s insurance subsidiary, Artea Life Insurance GD UAB, is subject to the Solvency II Directive. It is required to maintain own funds in excess of both the Solvency Capital Requirement (SCR) and the Minimum Capital Requirement (MCR) at all times. These capital levels ensure that the company can absorb potential losses and meet obligations to policyholders. \u2022 The Solvency II ratio is calculated and reported quarterly to the Bank of Lithuania. \u2022 As of 31 December 2025 and 31 December 2024, Artea Life Insurance GD UAB was fully compliant with Solvency II capital requirements. Other Group Entities Other subsidiaries within the Group are not individually subject to sector-specific capital supervision. Instead, they adhere to general corporate capital rules set out in the Law on Companies of the Republic of Lithuania: \u2022 Minimum share capital requirement: EUR 2,500; \u2022 Shareholders\u2019 equity must not fall below 50% of the company\u2019s share capital, with corrective actions required within a prescribed timeframe if this threshold is breached. Overall Group Compliance For the years ended 31 December 2025 and 31 December 2024, the Bank and all Group entities remained in full compliance with their respective prudential and regulatory capital requirements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-520": { "value": "1. CREDIT RISK Credit risk represents the potential loss the Group may incur if a customer fails to meet financial obligations. It arises primarily from lending activities, and also from debt securities, off-balance sheet exposures such as loan commitments, guarantees, and letters of credit\u2014making it the Group\u2019s most material risk. The Group\u2019s credit risk management framework, approved by the Board, sets out principles for identifying, measuring, and mitigating credit risk in line with regulatory requirements and best industry practices. These include lending policies, risk limits, internal controls, and audit procedures. Risk is only taken in areas where the Group has proven expertise, and the principle of prudence governs all credit decisions. Lending is primarily directed toward small and medium-sized enterprises (SMEs), defined as entities with fewer than 250 employees and assets or turnover below EU thresholds. The Group offers tailored solutions to SMEs, supporting their growth while maintaining sound credit quality. Large exposures are approached with enhanced scrutiny. New products or business lines are introduced only following a thorough risk assessment. All lending activities are governed by documented procedures aligned with internal control and risk management policies. The Group prioritises sustainable profitability over excessive risk-taking and ensures all credit-related decisions avoid conflicts of interest. The Group\u2019s credit risk management is continuously improved through staff training and benchmarking against domestic and international banking practices. 1.1. Credit risk measurement (a) Loans and receivables The Group applies credit risk management measures, which could be divided into two types: 1) Measures that help to avoid decisions to grant loans with higher risk potential; 2) Measures ensuring the effective monitoring system of the Group\u2019s asset quality. Measures that help to avoid decisions to grant loans with higher risk potential: 1) Multi-stage decision-making and its approval system; 2) Defined credit risk appetite, credit risk indicators and risk allocation among structural levels \u2013 limit establishment; 3) Customer risk assessment requirements set by internal procedures; 4) Credit standards and acceptable credit risk criteria for separate products; 5) Security measures for credit repayment (collateral). Multi-stage decision-making and its approval system has an aim not to make one-man decisions regarding credit granting by authorized persons but to make them be discussed by the collegial bodies of the Bank and, as the case may be, by the Bank\u2019s Loan Committee, the Bank\u2019s Board or Council. There are certain limits to authorized persons established regarding credit granting implementation as well as approval limits to collegial bodies. Limit establishment depends on the authorized persons\u2019 qualification, experience and the effectiveness of their managed branches; while in the Branch Committees and the Bank Loan Committee the attention is paid to the Committee members\u2019 qualification, experience and economic activity of the region, where the branch is located, the quality of loan portfolio and other factors. The level of involvement of second line of defence in decision making process, providing secondary opinion or/ and performing decision-making control is determined depending on the size of the loan and compliance with the credit standards. It is very important to precisely analyse all the information about the customer before granting the credit. The goal of credit analysis is to do the best in evaluating the customer\u2019s creditworthiness, status and prospects in the field where he/she provides his/her goods or services. Every credit decision is based on the adequate assessment of credit repayment possibilities proportionate to the size of exposure and level of possible risk. Providing credit first of all the Group analyses the borrower\u2019s financial capacity from the borrower\u2019s cash flows. The repayment of credits granted by the Group must be enough secure in order to minimize possible credit repayment risks. A security measure has to be chosen in accordance with the credit type. Providing credit first of all the Group analyses the borrower\u2019s financial capacity and credit repayment possibilities from the borrower\u2019s cash flows. Credit administration and constant credit monitoring is the main principle in the Group\u2019s security and reliability maintenance. The proper credit administration includes the timely updating of the borrower\u2019s credit file, providing with the latest financial information, the timely introduction of latest financial information to the database and preparation of the various documents and their amendments. The Bank\u2019s Credit Risk Management and Control Department collects and, if necessary, provides to responsible managerial personnel information on external conditions, the growth of the credit portfolio and fulfilment of targeted profit, expenses associated with risks, the largest amounts due from clients, distribution of credits by the type of economic activity, repayment terms past due, the largest clients with default possibilities, analysis of the credit portfolio by risk groups, changes in risk groups over a certain time period and other credit risk metrics. The Group establishes and implements the procedures, improves information systems for monitoring separate credits as well as loan portfolio. These procedures include the criteria for early indication of potentially impaired loans and other transactions. (b) Debt securities Credit risk exposures with respect to debt securities are managed by carrying out counterparty analysis when decision for acquisition of securities is made. The concentration risk together with lending exposure arising from debt securities portfolio is analysed and monitored on a regular basis by the Risk Management Committee of the Bank. (c) Credit-related commitments Other credit-related commitments assumed by the Group include guarantees, letters of documentary credit, commitments to grant a credit which expose the Group to the same credit risk as the loans do. The key aim of these instruments is to ensure that funds are available to a customer as required. The above guarantees and letters of documentary credit are usually collateralised by clients\u2019 funds in the Bank accounts. With regards to commitments to grant credit the Bank is exposed to loss equal to the unused commitment amount. 1.2. Control of risk limits and risk mitigation policy (a) Concentrations The Group manages, limits and controls concentration of credit risk \u2013 in particular, to individual counterparties and groups of the associated counterparties as well as to economic sectors. In addition to the supervisory requirements to limit the exposures to a single borrower and large exposures, the Group also sets exposure requirement, which to a single borrower may not exceed 15 percent of the Bank\u2019s capital. The Bank\u2019s Council must approve the higher limits. Prudential maximum exposure requirement to a single borrower is 25 percent. Concentration of credit risk of the Bank is disclosed in Section 1.7. of Financial Risk Management disclosure. The Group also sets limits to industry segments, i.e. a possible concentration in certain industries at the Group\u2019s level is restricted by the internal lending limits. The percentage and volume of lending limits are set for individual industries to ensure that the Group is not overly exposed to any particular economic sector in the country. The geographical concentration risk is not recognised in the Group\u2019s business since the principle of focusing on domestic customers is followed. Some other specific control and mitigation measures are outlined below.
b) Collateral
The Group mitigates credit risk by taking security for loans granted. The types of
collateral considered by the Group as the most acceptable for loans and advances are
the following:
\u2022 Real estate (mainly residential properties, commercial and industrial real
estate);
\u2022 Business assets (equipment, inventory, transport vehicles);
\u2022 Property rights over financial instruments (debt securities, equities);
\u2022 Third party guarantees.
Long-term financing and lending to corporate entities are generally secured; revolving
facilities and consumer loans to private individuals are generally unsecured. In order
to minimize the credit loss as the impairment indicators for the relevant individual loans
and advances are noticed the Group seeks for additional collateral from the
counterparty.
While calculating a decrease in value for the loan the repayment of which is secured
by the collateral, a cash flow from the security measure is also taken into consideration
when determining the LGD factor. If several loans are insured with the same security
measure (collateral), such security measure (collateral) is allocated according to rank
of the pledge.Debt securities, treasury and other eligible bills are generally unsecured.
For finance lease receivables the lender remains the owner of the leased object.
Therefore, in case of customer\u2019s default the lender is able to gain control on the risk
mitigation measures and realize them in rather short period.
1.3. Impairment and provisioning policies
a) ECL model used by the Group
Upon assessing impairment losses on loans, due to banks, debt securities at
amortized cost and at fair value through other comprehensive income and other assets
the Group follows the requirements expected credit loss (ECL) model prescribed in
IFRS 9 Financial Instruments. The Group and the Bank carries out valuation of assets
on a monthly basis, based on valuation policies approved by the Board of the Bank.
The ECL is measured by the formula:
PD x LGD x EAD = ECL
Probability of default (PD): It represents the likelihood of a borrower on
defaulting on its financial obligation;
Loss given default (LGD): It represents the extent of loss the Group is
likely to incur in case the borrower defaults;
Exposure at default (EAD): It represents expected exposure at the time
of the default.
The financial assets are grouped into 3 stages:
1) Stage 1 financial assets \u2013 no significant increase in credit risk is observed since
initial recognition. The Group uses low credit risk exemption and assigns all of
the exposures with external investment grade credit rating or exposures with
Standard internal credit rating to Stage 1. 12 months PDs apply to Stage 1
exposures;
2) Stage 2 financial assets \u2013 significant increase in credit risk is observed since
initial recognition. The Group uses multiple criteria to assess whether the credit
risk has increased. Main criteria include: credit rating decrease (external credit
rating decrease by >=3 notches; A trigger is deemed to have occurred where
an internal credit rating of 7, 8, or 9 is assigned. A trigger is also deemed to
have occurred where an internal credit rating of 3\u20136 is assigned and has
worsened by more than one rating grade compared to the initial risk
classification. Furthermore, a trigger is deemed to have occurred where a
financial condition rating of 6\u20137 is assigned, or where a financial condition rating
of 3\u20135 has deteriorated by more than one notch relative to the initial financial
condition rating (in the case of private individuals). In addition, for multi-
apartment building renovation projects, a trigger is deemed to have occurred
where a financial condition rating of 3\u20134 has deteriorated by at least one rating
grade compared to the initial financial condition assessment, payment delays
(>30 days past due financial assets are classified to Stage 2 unless there is
observable evidence indicating otherwise), other observable criteria
(restructuring, forbearance, inclusion in Watch List, other qualitative factors
showing increased credit risk, Lifetime PD increase of more than 200% from
inception). Lifetime PDs apply to Stage 2 exposures;
3) Stage 3 financial assets \u2013 credit-impaired financial assets. Main criteria for
inclusion the asset in Stage 3 include: bankruptcy of the customer; termination
of the contract; payment delay >90 days; non-performing exposure status by
regulatory rules (i.e. the exposure is unlikely to be repaid in full without collateral
realisation (irrespective of any past-due amount or of the number of days past-
due)); other observable criteria. For Stage 3 exposures, the PD ratio is always
equal to 1. Minimal provisions are also calculated in accordance to regulatory
requirements for older non-performing loans.
In case observable evidence is available, Group\u2019s employees responsible for
impairment calculations can rank certain exposures to better or worse stage.
The exposure ceases to be Stage 3 when it no longer meets the criteria for the
consecutive period of at least 3 months. It should be noted that some of the regulatory
non-performing exposure criteria have their own exit periods, therefore the period for
an exposure to be classified out of Stage 3 may actually be longer.
The Group calculates its own PDs for loans to customers, finance lease receivables
and other assets and uses PDs published by the rating agencies for debt securities
and due to banks.
PDs for loans to customers and finance lease receivables are calculated using the
historical data of Group\u2019s own lending portfolio. Full approach is applied for finance
lease receivables as financial leases are part of Group\u2019s main activities. For this
purpose, the Group uses migration matrices for the exposures grouped by the
economic sector. The Group uses PDs published by rating agencies for debt securities
and due from banks. For other financial assets, a simplified model derived from
Group\u2019s lending data is used.
For loans to customers and finance lease receivables, LGDs are estimated by the
Group using the value of collateral available for each exposure individually and
discounting by certain ratios over certain period of time. Ratios and recovery periods
depend on the type of collateral and are derived from Group\u2019s own recovery
experience. For consumer financing exposures, the LGDs are estimated on a
exposure group level using the ultimate recovery rate historical data. For debt
securities and due from banks, LGDs from rating agencies are used.
For lending portfolio, Stage 1 EAD represents the expected exposure value over 12
month period and assumptions on the expected use of the off-balance sheet credit
commitments; Stage 2 EAD represents the expected exposure value over the term of
the loan and assumptions on the expected use of the off-balance sheet credit
commitments. Stage 3 EAD is estimated as the total balance and off-balance sheet
exposure. For debt securities, due from banks and other assets, gross exposure value
is used as EAD estimate.
Group\u2019s PD estimates incorporate forward-looking information. The Group transfers
its historical (\u201cthrough the cycle\u201d) data to economic-situation specific (\u201cpoint-in-time\u201d)
data by using models based on the expected economic development scenarios. The
economic variables and their associated impact on the PD vary by financial instrument.
The impact of economic variables on PD has been determined by performing statistical
regression analysis. Expert judgement is also applied in the process.
To include the impact of economic variables, the Group uses 3 economic scenarios
(base case, optimistic, pessimistic) that are based on the forecasts published by the
chief economist of Artea Bank and derives a single scenario based on the probabilities
assigned to these scenarios. These probabilities are approved in ECL calculation
procedure, any deviation from procedure is approved by the Board of the Bank.
The assumptions underlying ECL calculations are subject to frequent review, the
models used in ECL calculation are back tested against the actual performance data.
In case of need, changes are made to the models. In 2024 EAD conversion factor
was removed from calculating Stage 3 EAD exposure and Unsecured Recoveries
was included in LGD calculation for stage 1,2 and 3 loans, resulting in an increase in
expected credit loss (ECL) of EUR 2,995 thousand.
The most significant assumptions used for the ECL estimates as at 31 December 2025
and 2024 are presented in the tables below:
The macroeconomic scenarios for 2026\u20132028 reflect the assumption that the
beginning of the forecast period is characterised by strong and largely temporary fiscal
temporary GDP growth, higher inflation, faster wage and housing price growth, and
signs of economic overheating.
stimuli, including an expansionary 2026 state budget, elevated defence spending, Given that such growth would be driven primarily by one-off domestic demand factors,
increasing EU and RRF inflows, and the impact of the II pillar pension reform. while externally oriented sectors show signs of weakness, the pessimistic scenario
The base scenario assumes a more moderate economic impact of these factors. The also incorporates a potential slowdown or recession in 2027\u20132028 once temporary
pessimistic scenario, however, assumes significant withdrawals from II pillar pension stimuli fade.
funds and their reallocation to consumption. In 2026, this could result in stronger but
Accordingly,
the
pessimistic
scenario
is
considered
to
better
reflect
the
risk
of
macroeconomic imbalances emerging and correcting over the medium term.
Optimistic scenario
Base scenario
Pessimistic scenario
2025
2024
2025
2024
2025
2024
GDP Growth
4.00 %
4.00%
3.30 %
2.90%
3.70 %
1.90%
Change in manufacturing output
7.50 %
8.50%
5.00 %
6.50%
-2.50 %
3.00%
Unemployment
6.00%
5.70%
6.90%
6.80%
7.90%
8.50%
Change in housing prices
11.00 %
20.08%
10.00 %
6.28%
12.00 %
-15.18%
Change in salaries
11.00 %
11.50%
8.00 %
8.70%
8.00 %
4.00%
Scenario probabilities and weighted average GDP growth:
2026
2027
2028
2029
2030
Change in
Change in
Change in
Change in
Change in
At 31 December 2025:
Probability
Probability
Probability
Probability
Probability
salaries
salaries
salaries
salaries
salaries
Base scenario
8.00 %
60 %
7.00 %
60 %
5.80 %
60 %
5.20 %
60 %
5.20 %
60 %
Pessimistic scenario
8.00 %
25 %
4.00 %
25 %
3.00 %
25 %
3.00 %
25 %
3.00 %
25 %
Optimistic scenario
11.00 %
15 %
9.50 %
15 %
7.50 %
15 %
7.50 %
15 %
7.50 %
15 %
Weighted average GDP
8.45%
6.63%
5.36%
5.00%
5.00%
growth
The assumptions underlying ECL calculations are subject to frequent review, the
models used in ECL calculation are back tested against the actual performance data.
In case of need, changes are made to the models. In 2025 Redefault Rate was added
into LGD calculation, FLI included into LGD and EAD, in Stage 2 classification Lifetime
PD increase more than 200% from inception is observed. In 2024 EAD conversion
factor was removed from calculating Stage 3 EAD exposure and Unsecured
Recoveries was included in LGD calculation for stage 1,2 and 3 loans. The aggregate
effect of the above-mentioned model and methodological changes led to a net
increase in impairment provisions of EUR 1.7 million.
b) Impairment loss sensitivity
The most significant assumptions affected the estimated ECL, given the significant
impact on the borrowers performance, real estate price level, given the significant
impact on the collateral values and consumer financing portfolio recovery rates, given
the significant impact on the ultimate recoveries of the unsecured borrowings. The
table below provides sensitivity analysis of the above factors.
2025
2024
Group
Bank
Group
Bank
ECL
Equity
ECL
Equity
ECL
Equity
ECL
Equity
Scenario 1: Change in Salaries growth
-3,790
+3,032
-3,790
+3,032
-2,444
+1,955
-2,394
+1,115
increases by 2 p.p.
Scenario 2: Change in Salaries growth
+3,641
-2,913
+3,641
-2,913
+2,386
-1,909
+1,371
-1,097
decreases by 2 p.p.
Scenario 3: real estate prices increase
-1,496
+1,197
-1,496
+1,197
-1,356
+1,085
-1,356
+1,085
by 5%
Scenario 4: real estate prices decrease
+1,783
-1,426
+1,783
-1,426
+1,509
-1,207
+1,509
-1,207
by 5%
Scenario 5: consumer financing
-1,383
+1,106
-18
+14
-1,510
+1,208
-17
+14
portfolio recoveries increase by 5 p.p.
Scenario 6: consumer financing
+1,383
-1,106
+18
-14
+2,102
-1,682
+17
-14
portfolio recoveries decrease by 5 p.p.
c) write-offs
The accumulated write-offs, including any amount constituting legal claims to the
borrowers even if those amounts were never recognized on the balance sheet (the
most common example of such cases is the difference between gross value and
acquisition value of credit-impaired loans acquired by the Group) is presented in the
table below:
1.4. Maximum exposure to credit risk before collateral held or other credit enhancements
The table below represents a maximum exposure of credit risk exposure at 31
December 2025 and 2024, without taking into account any collateral held or other
credit enhancements attached. For on-balance sheet assets, the exposures
presented above are net carrying amount as reported in the balance sheet.
2025
2024
Group
Bank
Group
Bank
Total accumulated write-offs subject to enforcement
31,038
29,387
37,855
36,367
of which: amounts written off during the year subject to enforcement
578
314
1,827
981
2025
2024
Group
Bank
Group
Bank
Cash equivalents:
314,763
309,011
315,599
307,181
Balances in bank correspondent accounts
254,296
248,544
267,305
258,887
Placements with Central Bank
60,467
60,467
48,294
48,294
Loans to banks
9,035
9,035
3,121
3,121
Loans to customers:
3,713,724
3,691,955
3,434,597
3,421,904
Loans to financial institutions
23,476
324,249
20,287
311,104
Loans to individuals (Retail):
1,624,035
1,301,493
1,474,607
1 ,171,096
Mortgages
1,041,283
1,041,283
915,760
915,760
Consumer loans
324,409
1,867
305,329
1,818
Other (reverse repurchase agreements, other loans backed by securities, other)
203,216
203,216
210,393
210,393
Finance lease receivables
55,127
55,127
43,125
43,125
Loans to business customers:
2,066,213
2,066,213
1,939,703
1,939,703
Loans
1,773,931
1,773,931
1,665,932
1,665,932
Finance lease
292,282
292,282
273,771
273,771
Securities in the trading book
11,004
10,011
56,617
13,521
Derivative financial instruments
164
151
1,093
1,093
Investment securities at fair value
304,995
252,461
40,994
40,994
Investment securities at amortized cost
1,356,852
1,348,506
726,937
716,864
Other financial assets
8,210
7,345
7,258
6,559
Credit risk exposures relating to off \u2013balance sheet items are as follows:
526,763
567,334
481,608
491,831
Financial guarantees
61,975
62,025
87,985
87,985
Letters of credit
33,356
33,356
135
135
Loan commitments and other credit related liabilities
431,432
471,953
393,488
403,711
At 31 December
6,245,510
6,195,809
5,067,824
5,003,068
1.5. Loans to customers
During the year ended 31 December 2025, the Group\u2019s gross loans and advances
increased by 8%. The Group\u2019s total impairment provision for loans and advances
amounts to EUR 55,259 thousand (2024: EUR 56,412 thousand) and it accounts for
1.47% of the respective portfolio (2024: 1.57%).
a) Credit grades
The Group and the Bank examines the potential borrower\u2019s financial performance
before issuing a loan and monitors any development in financial performance during
the whole loan service period. The Group and the Bank evaluates the borrower\u2019s
financial performance at least annually. Consumer loans to individuals are assessed
based on application scorings when decision is made. After they are granted they are
monitored based on their past due status.
The Group\u2019s finance lease receivables are recognized and measured in accordance
with IFRS 16 \u2013 Leases. These receivables represent amounts due from customers
under finance leases, which are accounted for at the present value of future lease
payments. The Group assesses the credit risk associated with these receivables and
applies impairment provisions in line with IFRS 9, recognizing expected credit losses
(ECL). Finance lease receivables are subject to interest rate risk, and the Group
ensures that any potential exposure is managed through effective hedging strategies
and careful monitoring of the lease agreements. The Group also performs regular
assessments to ensure the adequacy of impairment allowances based on the
creditworthiness of lessees and the age of the receivables.
During the year ended 31 December 2025, finance lease receivables portfolio of the
Group increased by 9.63% (2024: increased by 10.6%). Total impairment provisions
for finance lease receivables of the Group amount to EUR 5,901 thousand (2024: EUR
6,687 thousand) and account for 1.67% of the respective portfolio (2024: 2.07%).
2025
2024
Group
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Low risk
3,168,547
198,604
-
3,367,151
2,515,273
51,337
59
2,566,668
Medium risk
86,356
38,120
-
124,476
450,103
39,483
287
489,874
High risk
-
172,262
-
172,262
221,458
134,966
4,395
360,820
In defaut
-
-
105,094
105,094
-
-
73,647
73,648
Gross
3,254,903
408,986
105,094
3,768,983
3,186,834
225,786
78,389
3,491,010
Less: allowance for impairment
(21,008)
(13,002)
(21,249)
(55,259)
(30,309)
(6,046)
(20,058)
(56,413)
Net
3,233,895
395,984
83,845
3,713,724
3,156,525
219,740
58,331
3,434,597
2025
2024
Bank
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Low risk
2,863,602
196,605
-
3,060,207
2,497,327
341,561
-
2,838,888
Medium risk
86,356
324,343
-
410,699
399,824
37,672
-
437,496
High risk
-
167,773
-
167,773
369
117,114
-
117,483
In defaut
-
-
95,954
95,954
-
-
68,292
68,292
Gross
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
Less: allowance for impairment
(16,740)
(8,922)
(17,016)
(42,678)
(23,350)
(1,515)
(15,390)
(40,255)
Net
2,933,218
679,799
78,938
3,691,955
2,874,170
494,832
52,902
3,421,904
Loans by types and stages
2025
Group
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,481,902
125,080
42,519
(25,466)
1,624,035
Consumer loans
306,663
21,174
9,390
(12,818)
324,409
Mortgages
938,012
89,528
21,674
(7,931)
1,041,283
Finance lease receivables
46,626
9,286
1,068
(1,853)
55,127
Other
190,601
5,092
10,387
(2,864)
203,216
Total business customers
1,773,001
283,906
62,575
(29,793)
2,089,689
Finance lease receivables
272,544
19,099
4,688
(4,049)
292,282
Other loans
1,500,457
264,807
57,887
(25,744)
1,797,407
Total loans:
3,254,903
408,986
105,094
(55,259)
3,713,724
2024
Group
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,405,665
60,830
32,381
(24,270)
1,474,606
Consumer loans
290,985
20,403
10,290
(16,349)
305,329
Mortgages
871,504
33,673
12,756
(2,174)
915,759
Finance lease receivables
41,596
2,244
215
(931)
43,124
Other
201,580
4,510
9,120
(4,816)
210,394
Total business customers
1,781,171
164,956
46,007
(32,143)
1,959,991
Finance lease receivables
261,053
15,983
2,491
(5,756)
273,771
Other loans
1,520,118
148,973
43,516
(26,387)
1,686,220
Total loans:
3,186,836
225,786
78,388
(56,413)
3,434,597
2025
Bank
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,176,957
104,042
33,379
(12,885)
1,301,493
Consumer loans
1,718
136
250
(237)
1,867
Mortgages
938,012
89,528
21,674
(7,931)
1,041,283
Finance lease receivables
46,626
9,286
1,068
(1,853)
55,127
Other
190,601
5,092
10,387
(2,864)
203,216
Total business customers
1,773,001
584,679
62,575
(29,793)
2,390,462
Finance lease receivables
272,544
19,099
4,688
(4,049)
292,282
Other loans
1,500,457
565,580
57,887
(25,744)
2,098,180
Total loans:
2,949,958
688,721
95,954
(42,678)
3,691,955
2024
Bank
Stage 1
Stage 2
Stage 3
Allowance
Total
Total individuals (retail)
1,116,348
40,575
22,284
(8,112)
1,171,095
Consumer loans
1,670
147
192
(192)
1,817
Mortgages
871,504
33,674
12,757
(2,174)
915,761
Finance lease receivables
41,596
2,244
215
(931)
43,124
Other
201,578
4,510
9,120
(4,815)
210,393
Total business customers
1,781,172
455,772
46,008
(32,143)
2,250,809
Finance lease receivables
261,054
15,983
2,491
(5,756)
273,772
Other loans
1,520,118
439,789
43,517
(26,387)
1,977,037
Total loans:
2,897,520
496,347
68,292
(40,255)
3,421,904
For analysis of debt securities according to the credit quality see Notes 11 and 13.
b) Payment delays
The tables below provide an analysis of loans and advances to customers by payment
delays. The Group considers a loan to be past due when the following criteria are met:
for loans to individuals \u2013 overdue amount is higher than the lower of EUR 100 or 1%
of total exposure; for loans to business customers \u2013 overdue amount is higher than
the lower of EUR 500 or 1% of total exposure.
Group
2025
2024
Individuals
Business
Financial
Total
Individuals
Business
Financial
Total
(retail)
customers
institutions
(retail)
customers
institutions
Not past due
1,575,965
2,045,056
23,547
3,644,568
1,425,994
1,443,096
20,313
2,889,403
Past due up to 30 days
38,678
31,301
-
69,979
43,317
378,452
-
421,769
Past due 31-90 days
16,497
4,991
-
21,488
14,954
105,305
-
120,259
Past due more than 90 days
18,361
14,586
1
32,948
14,610
44,969
-
59,579
Gross
1,649,501
2,095,934
23,548
3,768,983
1,498,875
1,971,822
20,313
3,491,010
Less: allowance for impairment
(25,466)
(29,721)
(72)
(55,259)
(24,266)
(32,121)
(26)
(56,413)
Net
1,624,035
2,066,213
23,476
3,713,724
1,474,609
1,939,701
20,287
3,434,597
Bank
2025
2024
Individuals
Business
Financial
Total
Individuals
Business
Financial
Total
(retail)
customers
institutions
(retail)
customers
institutions
Not past due
1,266,678
2,045,056
324,320
3,636,054
1,132,824
1,443,096
311,131
2,887,051
Past due up to 30 days
22,907
31,301
-
54,208
27,279
378,452
-
405,731
Past due 31-90 days
11,191
4,991
-
16,182
9,851
105,305
-
115,156
Past due more than 90 days
13,602
14,586
1
28,189
9,254
44,969
-
54,223
Gross
1,314,378
2,095,934
324,321
3,734,633
1,179,208
1,971,822
311,131
3,462,161
Less: allowance for impairment
(12,885)
(29,721)
(72)
(42,678)
(8,110)
(32,121)
(26)
(40,257)
Net
1,301,493
2,066,213
324,249
3,691,955
1,171,098
1,939,701
311,105
3,421,904
c) Stage 3 loans and advances to customers
The breakdown of the gross amount of Stage 3 loans and advances by class, along
with the fair value of related collateral held by the Group and the Bank as security is
as follows:
Group
2025
2024
Gross value
Allowance for
Net value
Fair value of
Gross value
Allowance for
Net value
Fair value of
Loans and advances to financial
impairment
collateral
impairment
collateral
institutions
1
1
-
-
-
-
-
-
Loans to individuals (Retail):
42,519
9,633
32,886
30,405
32,381
8,581
23,800
22,285
Consumer loans
9,390
4,378
5,012
-
10,290
4,766
5,524
192
Mortgages
21,674
3,077
18,597
21,487
12,756
1,950
10,806
12,757
Finance lease receivables
1,068
1,761
8,626
7,852
215
85
130
216
Other
10,387
417
651
1,066
9,120
1,780
7,340
9,120
Loans to business customers:
62,574
11,615
50,959
61,305
46,007
11,477
34,530
46,007
Finance lease receivables
4,688
1,285
3,403
4,671
2,491
921
1,570
2,491
Other loans
57,886
10,330
47,556
56,634
43,516
10,556
32,960
43,516
Total loans to customers
105,094
21,249
83,845
91,710
78,388
20,058
58,330
68,292
Bank
2025
2024
Gross value
Allowance for
Net value
Fair value of
Gross value
Allowance for
Net value
Fair value of
Loans and advances to financial
impairment
collateral
impairment
collateral
institutions
1
1
-
-
-
-
-
-
Loans to individuals (Retail):
33,379
5,400
27,979
30,405
22,284
3,913
18,372
22,285
Consumer loans
250
145
105
-
192
98
95
192
Mortgages
21,674
3,077
18,597
21,487
12,757
1,950
10,806
12,757
Finance lease receivables
10,387
1,761
8,626
7,852
215
85
131
216
Other
1,068
417
651
1,066
9,120
1,780
7,340
9,120
Loans to business customers:
62,575
11,615
50,959
61,305
46,008
11,477
34,530
46,007
Finance lease receivables
4,688
1,285
3,403
4,671
2,491
921
1,570
2,491
Other loans
57,887
10,330
47,556
56,634
43,517
10,556
32,960
43,516
Total loans to customers
95,954
17,016
78,938
91,710
68,292
15,390
52,902
68,292
Impairment loss by stages of financial assets for loans is disclosed in Note 12.
d) Information about loan collateral
The method for collateral valuation is selected by the Group and the Bank based on
specifics of collateral and existing market conditions on the day of valuation. Based on
collateral characteristics and the purpose of its valuation the following valuation
methods are used: comparable sales price method or income capitalisation method.
Fair values of the collateral are updated regularly in line with the Bank\u2019s procedures.
If loan is secured by several different types of collateral, priority in their recognition is
based on their liquidity. Cash deposits are treated as having the highest liquidity
followed by guarantees, residential real estate and then other real estate. Securities
that have no active market and other assets are treated as having the lowest liquidity.
Unsecured loans also include loans secured by other types of collateral (e.g. future
inflow of funds into the borrowers\u2019 Bank accounts (controlled by the Bank), third party
warrantees, bills of exchange, etc.). The total amount of loans to individuals and
business customers secured by the above security measure but disclosed as
unsecured as at 31 December 2025 amounted to EUR 68 million (2024: EUR 54
million). Totally unsecured loans comprise only consumer loans and loans issued by
the Bank to its subsidiaries.
Risk Mitigation Measures for Finance Lease Receivables
At initial recognition, the fair value of risk mitigation measures associated with finance
lease receivables is determined using valuation methods appropriate to the asset type.
For real estate and movable property, market values are applied. In subsequent
periods, the fair value of these collateral assets is adjusted based on relevant
depreciation rates and market conditions.
When an exposure is secured by multiple collateral types, recognition priority is
assigned based on asset liquidity. Transport vehicles are considered the most liquid,
followed by residential real estate and other types of real estate. Equipment and
miscellaneous assets are deemed the least liquid.
As the lender retains legal ownership of the leased asset, it maintains the right to
reclaim and realize the asset in the event of customer default, typically within a
relatively short timeframe.
2025
2024
Group
Bank
Group
Bank
Loans to individuals (retail)
1,649,501
1,314,378
1,504,633
1,184,963
Consumer loans:
337,227
2,104
321,679
2,009
Unsecured loans
337,204
2,081
321,632
1,962
Other assets
23
23
47
47
Mortgages:
1,049,214
1,049,214
917,935
917,935
Residential real estate
1,049,214
1,049,214
917,935
917,935
Finance lease receivables:
56,980
56,980
49,812
49,812
Unsecured
408
408
4,805
4,805
Transport vehicles
56,547
56,547
43,709
43,709
Real estate
-
-
1,266
1,266
Equipment and other
25
25
32
32
Other loans:
206,080
206,080
215,207
215,207
Unsecured loans
81,505
81,505
71,274
71,274
Residential real estate
9,857
9,857
10,926
10,926
Other real estate
4,504
4,504
6,452
6,452
Guarantees
108,934
108,934
123,771
123,771
Other assets
1,280
1,280
2,784
2,784
Loans to business customers
2,095,934
2,095,934
1,966,063
1,966,063
Finance lease:
296,331
296,331
273,771
273,771
Unsecured
1,193
1,193
-
-
Transport vehicles
237,647
237,647
223,514
223,514
Real estate
15,617
15,617
15,777
15,777
Equipment and other
41,874
41,874
34,480
34,480
Other loans:
1,799,603
1,799,603
1,692,292
1,692,292
Residential real estate
207,062
207,062
185,771
185,771
Other real estate
1,592,541
1,592,541
1,494,367
1,494,367
Guarantees
-
-
2,487
2,487
Other assets
-
-
9,667
9,667
Financial institutions
23,548
324,321
20,313
311,131
Unsecured loans
-
300,773
-
290,818
Other real estate
-
-
5,458
5,458
guarantees
-
-
6,555
6,555
other assets
23,548
23,548
8,300
8,300
Grand total
3,768,983
3,734,633
3,491,009
3,462,157
Following tables show the distribution of LTV (loan to collateral value) ratios for the
Group\u2019s loan portfolio:
Group \u2013 LTV
2025
2024
distribution
LTV ratio:
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Below 50%
1,770,705
256,390
66,232
2,093,327
1,674,549
146,504
46,720
1,867,773
50% to 60%
227,849
39,540
5,112
272,501
172,626
9,759
2,354
184,739
60% to 70%
200,788
22,558
4,448
227,794
168,661
24,318
4,502
197,481
70% to 80%
191,386
19,606
4,271
215,263
187,829
6,602
1,562
195,993
80% to 90%
191,133
15,962
1,851
208,946
167,283
3,099
1,435
171,817
90% to 100%
28,244
883
458
29,585
4,993
136
533
5,662
Above 100%
143,158
5,888
12,955
162,001
353,999
13,662
10,742
378,403
No collateral
501,640
48,159
9,767
559,566
456,896
21,706
10,540
489,142
Total Gross
3,254,903
408,986
105,094
3,768,983
3,186,836
225,786
78,388
3,491,010
Bank \u2013 LTV
2025
2024
distribution
LTV ratio:
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Below 50%
1,770,705
256,390
66,232
2,093,327
1,674,549
146,502
46,717
1,867,769
50% to 60%
227,849
39,540
5,112
272,501
172,626
9,759
2,354
184,739
60% to 70%
200,788
22,558
4,448
227,794
168,661
24,318
4,502
197,481
70% to 80%
191,386
19,606
4,271
215,263
187,829
6,603
1,562
195,994
80% to 90%
191,133
15,962
1,851
208,946
167,283
3,099
1,435
171,817
90% to 100%
28,244
883
458
29,585
4,993
136
533
5,662
Above 100%
143,158
5,888
12,955
162,001
353,997
13,662
10,743
378,402
No collateral
196,695
327,894
627
525,216
167,582
292,268
446
460,295
Total Gross
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
e) Loans with No Recognised Impairment Allowance Due to Collateral Coverage
As part of the Group\u2019s credit risk assessment under IFRS 9, certain loans to customers
are assessed to have a low risk of default and no impairment loss allowance is
recognised due to the sufficiency of collateral held. These exposures are secured by
collateral whose fair value is considered adequate to cover potential credit losses.
The table below summarises such exposures (The Bank\u2019s figures are identical to those
of the Group; therefore, only the Group amounts are disclosed):
Group, as at 31 December 2025
Stage 1
Stage 2
Stage 3
Total Gross Value
LTV
Loans to financial institutions
-
-
-
-
0%
Loans to individuals:
461
3
-
464
0%
Consumer loans
-
-
-
-
0%
Mortgages
74
3
-
77
0%
Financial lease receivables
2
-
-
2
0%
Other loans
385
-
-
385
0%
Loans to business customers:
4,682
-
25,334
30,016
3%
Financial lease receivables
4,682
-
25,025
29,707
3%
Other loans
-
-
309
309
3%
Total
5,143
3
25,334
30,480
1%
Group, as at 31 December 2024
Stage 1
Stage 2
Stage 3
Total Gross Value
LTV
Loans to financial institutions
-
-
-
-
0%
Loans to individuals:
5,317
1,827
4
7,149
4%
Consumer loans
-
1,487
-
1,487
15%
Mortgages
5,088
3
4
5,095
0%
Financial lease receivables
-
306
-
306
0%
Other loans
229
31
-
261
2%
Loans to business customers:
4,629
14,181
-
18,810
4%
Financial lease receivables
4,622
13,681
-
18,303
0%
Other loans
7
500
-
507
7%
Total
9,946
16,008
4
25,959
4%
f) Modifications of loans to customers
The Group applies the legal treatment for loan contract amendments, meaning that
modified loan contracts are treated as modifications.
In 2025, the amortized cost before modification of loans with lifetime ECL (Expected
Credit Loss) that were modified as part of the Group's restructuring activities
amounted to EUR 127,683 thousand (2024: EUR 51,353 thousand), resulting in a net
loss of EUR 8 thousand (2024: EUR 2 thousand).
1.6. Other financial assets
Other financial assets consist of amounts receivable. The Group and Bank closely
monitors the credit quality of other financial assets, with performance tracked based
on aging and past due status. A regular assessment of counterparty creditworthiness
is conducted, considering both historical data and forward-looking macroeconomic
indicators.
Group
Bank
2025
2024
2025
2024
Individuals
Business
Total
Individuals
Business
Total
Individuals
Business
Total
Individuals
Business
Total
customers
customers
customers
customers
Stage 1
1,014
7,427
8,441
731
7,502
8,233
1,014
6,562
7,576
730
6,804
7,534
Stage 2
-
-
-
-
-
-
-
-
-
-
-
-
Stage 3
-
-
-
-
-
-
-
-
-
-
-
-
Gross
1,014
7,427
8,441
731
7,502
8,233
1,014
6,562
7,576
730
6,804
7,534
Less:
allowance
-
(231)
(231)
-
(975)
(975)
-
(231)
(231)
-
(975)
(975)
for
impairment
Net
1,014
7,196
8,210
731
6,527
7,258
1,014
6,331
7,345
730
5,829
6,559
1.7. Concentration of risks of financial assets with credit risk exposure
Industry sectors
The following table breaks down the main credit exposures at their carrying amounts,
as categorized by the industry sectors of our counterparties.
Cash
Loans and due
Securities in the
Investment
Other financial
2025
Group
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
254,296
232,776
1,668
188,550
6,650
683,940
Wholesale and retail
-
215,579
-
548
23
216,150
Manufacturing
-
276,147
-
-
30
276,177
Real estate and rent
-
522,825
2,278
-
208
525,311
Construction
-
103,898
-
-
161
104,059
Agriculture
-
96,400
-
-
8
96,408
Public administration and defence
60,467
47,948
993
505,798
30
615,236
Transport, storage and communication
-
121,674
-
-
11
121,685
Health and social work
-
18,914
-
201
7
19,122
Loans to individuals
-
1,624,035
-
-
-
1,624,035
Other
-
462,563
6,092
1,166,451
1,246
1,636,352
Total
314,763
3,722,759
11,031
1,861,548
8,374
5,918,475
Cash
Loans and due
Securities in the
Investment
Other financial
2024
Group
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
267,305
146,504
174,911
17,924
5,904
612,548
Wholesale and retail
-
207,571
-
527
21
208,119
Manufacturing
-
264,934
-
8,585
41
273,560
Real estate and rent
-
471,230
1,507
-
303
473,040
Construction
-
165,823
-
-
18
165,841
Agriculture
-
101,825
-
-
4
101,829
Public administration and defence
48,294
98,034
23,059
719,949
7
889,343
Transport, storage and communication
-
44,677
-
-
16
44,693
Health and social work
-
62,398
-
1,202
1
63,601
Loans to individuals
-
1,474,607
-
-
-
1,474,607
Other
-
400,115
35,633
22,618
2,036
460,402
Total
315,599
3,437,718
235,110
770,805
8,351
4,767,583
Cash
Loans and due
Securities in the
Investment
Other financial
2025
Bank
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
248,544
533,549
1,668
2,401
5,785
791,947
Wholesale and retail
-
215,579
-
548
23
216,150
Manufacturing
-
276,147
-
-
30
276,177
Real estate and rent
-
522,825
2,278
-
208
525,311
Construction
-
103,898
-
-
161
104,059
Agriculture
-
96,400
-
-
8
96,408
Public administration and defence
60,467
47,948
-
468,221
30
576,666
Transport, storage and communication
-
121,674
-
-
11
121,685
Health and social work
-
18,914
-
-
7
18,921
Loans to individuals
-
1,301,493
-
-
-
1,301,493
Other
-
462,563
6,092
1,132,310
1,233
1,602,198
Total
309,011
3,700,990
10,038
1,603,480
7,496
5,631,015
Cash
Loans and due
Securities in the
Investment
Other financial
2024
Bank
equivalents
from other
trading book
securities
assets including
Total
banks
derivatives
Financial intermediation
258,887
437,321
7,959
16,705
5,205
726,077
Wholesale and retail
-
207,571
-
527
21
208,119
Manufacturing
-
264,934
-
8,585
41
273,560
Real estate and rent
-
471,230
1,507
-
303
473,040
Construction
-
165,823
-
-
18
165,841
Agriculture
-
101,825
-
-
4
101,829
Public administration and defence
48,294
98,034
-
714,410
7
860,745
Transport, storage and communication
-
44,677
-
-
16
44,693
Health and social work
-
62,398
-
1,002
1
63,401
Loans to individuals
-
1,171,096
-
-
-
1,171,096
Other
-
400,116
4,077
19,255
2,036
425,484
Total
307,181
3,425,025
13,543
760,484
7,652
4,513,885
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-521": { "value": "
2. LIQUIDITY RISK
2.1 Liquidity Risk Management
Liquidity risk management within the Bank is based on its capacity to address potential
cash shortages, primarily through access to market borrowing. The Bank's approach
to liquidity risk management is designed to mitigate reliance on market funding,
especially during times of liquidity stress. To this end, the Bank develops its liquidity
strategy based on a scenario where it does not have access to market funding. A
critical component of this strategy is the Bank's substantial portfolio of highly liquid
debt securities. These securities can be used as collateral for repurchase agreements
(repos) or sold if necessary.
Liquidity risk management is governed by the Bank's Liquidity Risk Management
Procedures, which are approved by the Management Board. The Bank assesses
liquidity risk through the analysis of various liquidity ratios, with each ratio having
defined limits for change as outlined in the aforementioned procedures. The Risk
Management Committee makes decisions related to liquidity management, utilizing
information provided by the Bank's Risk Department. The Board may also intervene,
based on the information submitted by the Risk
Management Committee. For short-term liquidity risk (up to 7 days), management is
based on cash flow projections and short-term liquidity forecasts. The Bank's Market
and Treasury Department is responsible for managing this process.
The Group monitors both short-term and long-term liquidity risks through established
liquidity ratios and limits. Since 2015, the Bank has been subject to regulatory
requirements regarding the Liquidity Coverage Ratio (LCR). The Bank has
consistently complied with the LCR requirement, maintaining a substantial cushion
over the minimum required ratio of 100%.
The Bank continued to enhance its liquidity risk management framework by updating
its internal liquidity limit system to include normative, forward-looking, quality and
concentration ratios.
The Structure of the Bank's and Group\u2018s assets and liabilities by maturity presented in the tables below.
2025,
Group
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
390,057
-
-
-
-
-
-
-
390,057
Due from other banks
-
28
35
2,520
35
337
6,080
-
9,035
Securities in the trading book
-
228
49
89
2,388
8,129
121
27
11,031
Derivative financial instruments
-
54
90
20
-
-
-
-
164
Loans to customers
-
81,415
138,401
170,826
336,005
1,027,886
1,927,183
32,008
3,713,724
Investment securities at fair value
-
604
374
4,606
72,623
174,462
48,963
203,064
504,696
Investment securities at amortized cost
-
5,586
3,260
151,224
110,445
767,997
318,340
-
1,356,852
Investments in subsidiaries
-
-
-
-
-
-
-
270
270
Intangible assets
-
-
-
-
-
-
-
40,560
40,560
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,495
15,495
Other assets
2,595
9,881
851
8,492
1,492
325
4,062
5,888
33,586
Total assets
392,652
97,796
143,060
337,777
522,988
1,979,136
2,304,749
297,312
6,075,470
Due to other banks and financial institutions
159,490
7,800
12,551
1,647
5,225
339
10,158
-
197,210
Due to customers
2,097,643
212,631
343,238
460,422
655,661
178,150
13,456
-
3,961,201
Debt securities in issue
-
-
-
-
-
299,021
735,442
-
1,034,463
Liabilities related to insurance activities
-
2,098
635
772
2,880
13,301
193,224
-
212,910
Other liabilities
39,352
12,182
994
2,064
2,590
3,286
6,161
-
66,629
Shareholders\u2019 equity
-
-
-
-
-
-
-
603,057
603,057
Total liabilities and shareholders\u2019 equity
2,296,485
234,711
357,418
464,905
666,356
494,097
958,441
603,057
6,075,470
Net liquidity gap
(1,903,833)
(136,915)
(214,358)
(127,128)
(143,368)
1,485,039
1,346,308
(305,745)
-
Loan and other commitments
-
431,431
24
-
-
33,333
-
-
464,788
Guarantees
-
62,025
-
-
-
-
-
-
62,025
Off-balance
-
493,456
24
-
-
33,333
-
-
526,813
On
Up to 1
6 -12
Maturity
2024,
Group
1-3 months
3-6 months
1-3 years
Over 3 years
Total
demand
month
months
undefined
Cash and cash equivalents
395,136
-
-
-
-
-
-
-
395,136
Due from other banks
-
179
-
2,520
332
90
-
-
3,121
Securities in the trading book
-
5,193
1,164
2,130
8,503
15,200
24,427
178,493
235,110
Derivative financial instruments
-
726
353
14
-
-
-
-
1,093
Loans to customers
-
98,735
143,190
131,888
262,744
1,021,645
1,757,317
19,078
3,434,597
Investment securities at fair value
-
144
615
76
1,530
14,808
23,950
2,745
43,868
Investment securities at amortized cost
-
2,064
7,293
22,748
151,159
540,013
3,660
-
726,937
Investments in subsidiaries
-
-
-
-
-
-
-
270
270
Intangible assets
-
-
-
-
-
-
-
43,617
43,617
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,261
15,261
Other assets
154
8,961
605
831
1,028
3,586
77
8,367
23,609
Total assets
395,290
116,002
153,220
160,207
425,296
1,595,342
1,809,431
267,831
4,922,619
Due to other banks and financial institutions
110,489
9,002
9,801
24,153
32,180
34,654
9,545
-
229,824
Due to customers
1,591,789
149,058
278,689
555,924
579,604
220,072
21,909
-
3,397,045
Debt securities in issue
-
-
-
-
-
-
448,159
-
448,159
Liabilities related to insurance activities
4,091
233
469
1,763
11,321
180,555
198,432
Other liabilities
35,520
14,023
650
1,776
6,559
3,312
2,147
63,987
Shareholders\u2019 equity
-
-
-
-
-
-
-
585,172
585,172
Total liabilities and shareholders\u2019 equity
1,737,798
176,174
289,373
582,322
620,106
269,359
662,315
585,172
4,922,619
Net liquidity gap
(1,342,508)
(60,172)
(136,153)
(422,115)
(194,810)
1,325,983
1,147,116
(317,341)
-
Loan and other commitments
-
393,548
75
-
-
-
-
-
393,623
Guarantees
-
87,985
-
-
-
-
-
-
87,985
Off-balance
-
481,533
75
-
-
-
-
-
481,608
202
5, Bank
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
383,623
-
-
-
-
-
-
-
383,623
Due from other banks
-
28
35
2,520
35
337
6,080
-
9,035
Securities in the trading book
-
228
49
89
2,388
7,136
121
27
10,038
Derivative financial instruments
-
47
84
20
-
-
-
-
151
Loans to customers
-
74,662
414,927
143,271
287,959
905,162
1,845,458
20,516
3,691,955
Investment securities at fair value
-
454
278
4,318
72,275
161,886
9,887
5,876
254,974
Investment securities at amortized cost
-
5,570
2,810
150,762
104,366
767,191
317,807
-
1,348,506
Investments in subsidiaries
-
-
-
-
-
-
-
96,929
96,929
Intangible assets
-
-
-
-
-
-
-
6,498
6,498
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
15,183
15,183
Other assets
2,595
8,639
814
8,408
1,482
120
32
5,045
27,135
Total assets
386,218
89,628
418,997
309,388
468,505
1,841,832
2,179,385
150,074
5,844,027
Due to other banks and financial institutions
160,496
7,800
12,601
1,647
5,225
339
10,158
-
198,266
Due to customers
2,097,672
212,631
343,608
460,803
655,661
178,150
13,456
-
3,961,981
Debt securities in issue
-
-
-
-
-
299,021
735,442
-
1,034,463
Other liabilities
34,699
3,450
649
742
1,112
2,955
988
-
44,595
Shareholders\u2019 equity
-
-
-
-
-
-
-
604,722
604,722
Total liabilities and shareholders\u2019 equity
2,292,867
223,881
356,858
463,192
661,998
480,465
760,044
604,722
5,844,027
Net liquidity gap
(1,906,649)
(134,253)
62,139
(153,804)
(193,493)
1,361,367
1,419,341
(454,648)
-
Loan and other commitments
-
471,952
24
-
-
33,333
-
-
505,309
Guarantees
-
62,025
-
-
-
-
-
-
62,025
Off-balance
-
533,977
24
-
-
33,333
-
-
567,334
202
4, Bank
On demand
Up to 1
1-3 months
3-6 months
6 -12
1-3 years
Over 3
Maturity
Total
month
months
years
undefined
Cash and cash equivalents
386,365
-
-
-
-
-
-
-
386,365
Due from other banks
-
179
-
2,520
332
90
-
-
3,121
Securities in the trading book
-
677
1,078
1,966
7,181
2,619
-
22
13,543
Derivative financial instruments
-
726
353
14
-
-
-
-
1,093
Loans to customers
-
89,808
414,469
106,240
218,560
908,373
1,676,938
7,516
3,421,904
Investment securities at fair value
-
15
615
76
1,530
14,808
23,950
2,626
43,620
Investment securities at amortized cost
-
2,063
7,074
22,687
150,373
533,643
1,024
-
716,864
Investments in subsidiaries
-
-
-
-
-
-
-
84,069
84,069
Intangible assets
-
-
-
-
-
-
-
7,859
7,859
Property, plant and equipment and
investment property
-
-
-
-
-
-
-
14,689
14,689
Other assets
154
8,106
605
829
938
204
77
7,017
17,930
Total assets
386,519
101,574
424,194
134,332
378,914
1,459,737
1,701,989
123,798
4,711,057
Due to other banks and financial institutions
113,116
9,002
9,801
24,153
32,180
34,654
9,545
-
232,451
Due to customers
1,591,908
149,058
278,689
561,124
579,604
220,072
21,909
-
3,402,364
Debt securities in issue
-
-
-
-
-
-
448,159
-
448,159
Other liabilities
31,087
1,211
588
1,322
1,917
3,062
1,892
-
41,079
Shareholders\u2019 equity
-
-
-
-
-
-
-
587,004
587,004
Total liabilities and shareholders\u2019 equity
1,736,111
159,271
289,078
586,599
613,701
257,788
481,505
587,004
4,711,057
Net liquidity gap
(1,349,592)
(57,697)
135,116
(452,267)
(234,787)
1,201,949
1,220,484
(463,206)
-
Loan and other commitments
-
403,771
75
-
-
-
-
-
403,846
Guarantees
-
87,985
-
-
-
-
-
-
87,985
Off-balance
-
491,756
75
-
-
-
-
-
491,831
2.2 Non - derivative cash flow
Undiscounted cash flows in the table below describe contractual liability side outflows
which are stated including nominal contract amounts together with interest till the end
of the contract.
2025,
Group
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
167,313
12,610
6,945
340
10,158
197,366
Debt securities in issue
-
4,350
8,295
38,598
434,616
758,740
1,244,599
Due to customers
-
2,309,971
346,067
1,134,041
180,377
14,542
3,984,998
Liabilities related to insurance activities
-
2,098
635
3,652
13,301
193,224
212,910
Total liabilities (contractual maturity dates)
-
2,483,732
367,607
1,183,236
628,634
976,664
5,639,873
2024,
Group
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
119,491
9,801
56,333
34,654
9,545
229,824
Debt securities in issue
-
-
-
-
-
448,159
448,159
Due to customers
-
1,740,847
278,689
1,135,528
220,072
21,909
3,397,045
Liabilities related to insurance activities
-
4,091
233
2,232
22,434
169,442
198,432
Total liabilities (contractual maturity dates)
-
1,864,429
288,723
1,194,093
277,160
649,055
4,273,460
2025,
Bank
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
168,319
12,660
6,945
340
10,158
198,422
Debt securities in issue
-
4,350
8,295
38,598
434,616
758,740
1,244,599
Due to customers
-
2,310,000
346,437
1,134,422
180,377
14,542
3,985,778
Total liabilities (contractual maturity dates)
-
2,482,669
367,392
1,179,965
615,333
783,440
5,428,799
2024,
Bank
Maturity
Up to 1 month
1-3 months
3-12 months
1-3 years
Over 3 years
Total
Liabilities
undefined
Due to banks and other financial institutions
-
122,118
9,801
56,333
34,654
9,545
232,451
Debt securities in issue
-
-
-
-
-
448,159
448,159
Due to customers
-
1,740,966
278,689
1,140,728
220,072
21,909
3,402,364
Total liabilities (contractual maturity dates)
-
1,863,084
288,490
1,197,061
254,726
479,613
4,082,974
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-522": { "value": "
3. MARKET RISK
The Group takes on exposure to market risk, which means the risk for the Group to
incur losses due to the adverse fluctuations in the market parameters such as
currency exchange rates (foreign currency risk), interest rates (interest rate risk) or
securities prices (securities risk). Securities and interest rate risks are the most
significant market risks for the Group while other market risks are of lower significance.
3.1. Foreign exchange risk
The management of the currency exchange risk is regulated by the \u201cCurrency
Exchange Risk Management Procedures\u201d which specify the principles allowing the
Group to reduce the incurred foreign currency fluctuation risk to minimum. The Group
is not engaged in any speculative transactions through which it could expect to earn
profit from the open currency positions after changes in currency rate. The limits are
imposed by the Risk Management Committee and subject to review on demand.
The Group and the Bank monitors the foreign currency risk by calculating open
currency position. Open currency position (OCP) is equal to assets in the balance
sheet and off-balance sheet less balance sheet and off-balance sheet liabilities in a
single currency. There are two types of OCP, i.e. long and short. Long position means
that Group\u2019s assets exceed liabilities in given currency, whereas short position means
that liabilities exceed assets. The Financial Group and Bank also calculates Overall
net open position (ONOP), which is the higher of the total short or total long positions.
Open positions
The Group\u2019s and Bank\u2019s open positions of prevailing currencies were as follows:
2025
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,553
7,346
377,158
390,057
Due from other banks
-
-
11,031
11,031
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
164
164
Loans granted to customers
-
-
3,713,724
3,713,724
Investment securities at fair value
2,448
228
502,020
504,696
Investment securities at amortized cost
-
-
1,356,852
1,356,852
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
40,560
40,560
Property, plant and equipment and investment property
-
-
15,495
15,495
Other assets
23
95
33,468
33,586
Total assets
8,024
7,669
6,059,777
6,075,470
Liabilities and Equity
Due to other banks and financial institutions
7,094
62
190,054
197,210
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,894,658
3,961,201
Debt securities in issue
-
-
1,034,463
1,034,463
Liabilities related to insurance activities
-
-
212,910
212,910
Other liabilities
2,730
92
60,481
63,303
Shareholders\u2019 equity
-
-
603,057
603,057
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,998,949
6,075,470
Net balance sheet position
(55,729)
(5,099)
60,828
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net position
2,347
375
(2,794)
(72)
2024
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,742
5,928
382,466
395,136
Due from other banks
-
-
235,110
235,110
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,434,597
3,434,597
Investment securities at fair value
3,780
229
39,859
43,868
Investment securities at amortized cost
-
-
726,937
726,937
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
43,617
43,617
Property, plant and equipment and investment property
-
-
15,261
15,261
Other assets
102
9
23,498
23,609
Total assets
10,624
6,166
4,905,829
4,922,619
Liabilities and Equity
Due to other banks and financial institutions
6,915
10
222,899
229,824
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,319,484
3,397,045
Debt securities in issue
-
-
448,159
448,159
Liabilities related to insurance activities
-
-
198,432
198,432
Other liabilities
4,037
85
59,742
63,864
Shareholders\u2019 equity
-
-
585,172
585,172
Total liabilities and shareholders\u2019 equity
76,915
11,693
4,834,011
4,922,619
Net balance sheet position
(66,291)
(5,527)
71,818
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net position
1,492
1,402
(3,487)
(593)
2025
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,521
7,346
370,756
383,623
Due from other banks
-
-
10,038
10,038
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
151
151
Loans granted to customers
-
-
3,691,955
3,691,955
Investment securities at fair value
258
-
254,716
254,974
Investment securities at amortized cost
-
-
1,348,506
1,348,506
Investments in subsidiaries
-
-
96,929
96,929
Intangible assets
-
-
6,498
6,498
Property, plant and equipment and investment property
-
-
15,183
15,183
Other assets
23
95
27,017
27,135
Total assets
5,802
7,441
5,830,784
5,844,027
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
7,094
62
191,110
198,266
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,895,438
3,961,981
Debt securities in issue
-
-
1,034,463
1,034,463
Other liabilities
2,730
92
38,447
41,269
Shareholders\u2019 equity
-
-
604,722
604,722
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,767,506
5,844,027
Net balance sheet position
(57,951)
(5,327)
63,278
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net open position
125
147
(344)
(72)
2024
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,671
5,921
373,773
386,365
Due from other banks
-
-
13,543
13,543
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,421,904
3,421,904
Investment securities at fair value
236
43,384
43,620
Investment securities at amortized cost
-
-
716,864
716,864
Investments in subsidiaries
-
-
84,069
84,069
Intangible assets
-
-
7,859
7,859
Property, plant and equipment and investment property
-
-
14,689
14,689
Other assets
102
9
17,819
17,930
Total assets
7,009
5,930
4,698,118
4,711,057
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
6,915
10
225,526
232,451
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,324,803
3,402,364
Debt securities in issue
-
-
448,159
448,159
Other liabilities
2,545
85
38,326
40,956
Shareholders\u2019 equity
-
-
587,004
587,004
Total liabilities and shareholders\u2019 equity
75,423
11,693
4,623,941
4,711,057
Net balance sheet position
(68,414)
(5,763)
74,177
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net open position
(631)
1,166
(1,128)
(593)
3.2. Interest rate risk in the banking book
An interest rate risk is a risk to incur losses because of the mismatch of re-evaluation
possibility between the Bank\u2019s and the Group\u2019s assets and liabilities.
Cash flow interest rate risk is the risk that the future cash flows of a financial instrument
will fluctuate because of changes in market interest rates. Fair value interest rate risk
is the risk that the value of a financial instrument will fluctuate because of changes in
market interest rates. The Bank and the Group takes on exposure to the effects of
fluctuations in the prevailing levels of market interest rates on both its fair value and
cash flow risks.
The risk management is regulated by the Interest Rate Risk in the Banking Book
Management Policy, updated in 2025. Bank uses a system of internal risk limits and
indicators, which establish methods of risk measurement and set up measures for risk
management. These procedures are approved by the Board of the Bank and define
that:
\u2022 the Bank observes the principle to avoid the speculation with future
interest rates;
\u2022 the risk is evaluated using a system of internal key risk indicator;
\u2022 Risk Department provides the information on regular basis to Risk
Management Committee about compliance with internal risk limits.
\u2022 the Group applies hedge accounting in order to mitigate exposure to
interest rate fluctuations and the corresponding changes in the fair value
of the hedged liability.
Sensitivity of interest rate risk
The table below summarises Group\u2019s interest rates sensitive assets and liabilities
based on reprising dates based on which cash flow interest rate risk is estimated.
Group
Overnight
Up to 1 month
From 1 to 3 months
From 3 to 6 months
From 6 to 12 months
More than 1 year
31 December 2025
Total cashflow from interest
48,478
867,902
1,772,160
1,739,094
585,098
2,565,633
rate sensitive assets
Total cashflow from interest
1,160,269
516,531
1,112,565
684,266
940,248
2,011,531
rate sensitive liabilities
Net interest sensitivity gap
(1,111,791)
351,371
659,595
1,054,828
(355,150)
554,102
at 31 December 2025
31 December 2024
Total cashflow from interest
38,129
749,395
1,624,143
1,443,998
269,976
1,037,627
rate sensitive assets
Total cashflow from interest
1,077,544
164,179
294,067
613,427
613,817
1,386,223
rate sensitive liabilities
Net interest sensitivity gap
(1,039,415)
585,216
1,330,076
830,571
(343,841)
(348,596)
at 31 December 2024
Assessing the sensitivity of the Group's profit and other components of equity towards
the change of interest rates, it has been assumed that interest is to change by 2
percentage point.
The table below summarizes the effect on the Group's profit and other components of
equity of interest rate risk in the banking book as at 31 December 2024 and 31
December 2025.
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Total impact on equity
Pre-tax increase
Pre-tax increase
Total impact on
(decrease) in
(decrease) in other
(post-tax)
(decrease) in profit
(decrease) in other
equity (post-
profit
components of equity
components of equity
tax)
Interest rate increase by 2 p.p.
21,007
(7,058)
13,949
38,408
(2,415)
35,993
Interest rate decrease by 2 p.p.
(21,108)
7,479
(13,629)
(38,867)
2,650
(36,217)
The table below summarises the Bank\u2019s interest rates sensitive assets and
liabilities based on reprising dates based on which cash flow interest rate risk
is estimate:
Bank
Overnight
Up to 1 month
From 1 to 3 months
From 3 to 6 months
From 6 to
More than 1 year
31 December 2025
12 months
Total cashflow from interest rate
48,437
866,141
1,735,187
1,703,256
522,506
2,303,250
sensitive assets
Total cashflow from interest rate
1,160,269
516,481
1,112,588
684,259
940,280
2,011,545
sensitive liabilities
Net interest sensitivity gap at 31
(1,111,832)
349,660
622,599
1,018,997
(417,774)
291,705
December 2025
31 December 2024
Total cashflow from interest rate
38,091
737,290
1,600,832
1,411,361
213,726
817,713
sensitive assets
Total cashflow from interest rate
1,077,551
164,181
293,940
613,495
613,902
1,386,233
sensitive liabilities
Net interest sensitivity gap at 31
(1,039,460)
573,109
1,306,892
797,866
(400,176)
(568,520)
December 2024
Assessing the sensitivity of the Bank's profit and other components of equity towards
the change of interest rates, it has been assumed that interest is to change by 2
percentage point.
The table below summarises the effect on the Bank's profit and other components of
equity of interest rate risk in the banking book as at 31 December 2024 and 31
December 2025
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Pre-tax increase
(decrease) in other
Total impact on
Pre-tax increase
(decrease) in other
Total impact on
(decrease) in profit
components of
equity (post-tax)
(decrease) in profit
components of
equity (post-tax)
equity
equity
Interest rate increase by 2 p.p.
20,881
(6,534)
14,347
38,250
(2,360)
35,890
Interest rate decrease by 2 p.p.
(21,100)
6,905
(14,195)
(38,914)
2,592
(36,322)
The shift of yield curve according to above mentioned parameters creates significant
impact on Bank\u2019s total comprehensive income and makes EUR 14,347 thousand in
2025 (2024: EUR 35,890 thousand) higher impact and EUR 14,195 thousand in 2025
(2024: EUR 36,322 thousand) lower impact on comprehensive income.
3.3. Securities risk
Securities risk is the risk to incur losses from the investment in securities.
The management of the securities risk is regulated by the Investment in Securities
Limits Procedure. In order to properly manage the debt securities portfolio risk, the
Bank uses an internal limit system that combines maturity/rating limits, geographical
region limits imposed on total debt securities portfolio, VaR ratio limits imposed on
debt securities at amortized cost portfolio, and VaR and capital requirements amount
limits imposed on other debt securities portfolios. For the equity portfolio risk
management, a limit system that combines decision taking limits, issuer limits, portfolio
limits is used. The compliance with limits must be checked before taking the
investment decisions, monthly reports on the compliance with the limits set are
submitted to the Bank\u2019s Risk Management Committee.
Securities concentrations
Sector concentration of the securities portfolio is disclosed in Financial Risk
Management disclosure, section 1.8. Maturities concentration of securities portfolio is
disclosed in Financial
Risk Management disclosure, section 3.2. Credit quality of the securities portfolio is
disclosed in Notes 11 and Note 13. Geographical concentration of the debt securities
portfolio is presented in tables below, which contain Top countries in which the Group
and the Bank have exposures:
Group
2025
Name of the country
Government
Corporate
Total
2024
Name of the country
Government
Corporate
Total
1
Lithuania
489,280
15,103
504,383
1
Lithuania
654,785
24,264
679,049
2
Belgium
258,494
66
258,560
2
Latvia
70,486
9,873
80,359
3
Germany
200,190
1,501
201,691
3
Romania
5,345
1,461
6,806
4
France
180,307
4,095
184,402
4
Netherlands
-
6,453
6,453
5
Spain
126,078
-
126,078
5
France
-
5,678
5,678
6
Finland
83,605
204
83,809
6
Great Britain
-
5,574
5,574
7
Netherlands
71,676
3,030
74,706
7
USA
-
5,422
5,422
8
Italy
68,247
185
68,432
8
Czech Republic
209
4,979
5,188
9
Latvia
55,020
9,175
64,195
9
Poland
1,910
3,233
5,143
10
Austria
35,899
1,043
36,942
10
Slovenia
3,123
-
3,123
11
Luxenbourg
19,295
250
19,545
11
Luxembourg
-
2,250
2,250
12
Ireland
10,436
200
10,636
12
Peru
2,107
-
2,107
13
Slovenia
6,931
898
7,829
13
Germany
-
2,077
2,077
14
Peru
2,053
-
2,053
14
Mexico
2,025
-
2,025
15
United Kingdom
-
2,166
2,166
15
Italy
-
1,189
1,189
16
Other countries
15,668
14,296
29,964
16
Other countries
4,766
5,488
10,254
Total
1,623,179
52,212
1,675,391
Total
744,756
77,941
822,697
Bank
2025
Name of the country
Government
Corporate
Total
2024
Name of the country
Government
Corporate
Total
1
Lithuania
468,220
13,562
481,782
1
Lithuania
636,140
22,686
658,826
2
Belgium
257,000
66
257,066
2
Latvia
70,486
9,759
80,245
3
Germany
200,190
-
200,190
3
France
-
5,065
5,065
4
France
179,493
3,027
182,520
4
JAV
-
5,013
5,013
5
Spain
125,630
-
125,630
5
Netherlands
-
4,967
4,967
6
Finland
83,605
-
83,605
6
United Kingdom
-
4,941
4,941
7
Netherlands
71,676
1,414
73,090
7
Slovenia
3,123
-
3,123
8
Italy
68,247
185
68,432
8
Peru
2,107
-
2,107
9
Latvia
53,115
6,974
60,089
9
Czech Republic
-
2,090
2,090
10
Austria
35,899
-
35,899
10
Romania
2,049
-
2,049
11
Luxembourg
19,295
-
19,295
11
Luxembourg
-
2,000
2,000
12
Ireland
10,436
-
10,436
12
Italy
-
1,189
1,189
13
Slovenia
6,931
-
6,931
13
Germany
-
1,002
1,002
14
Peru
2,053
-
2,053
14
Spain
505
-
505
15
United Kingdom
-
1,965
1,965
15
Estonia
-
472
472
16
Other countries
1,034
3,501
4,535
16
Other countries
-
433
433
Total
1,582,824
30,694
1,613,518
Total
714,410
59,617
774,027
Sensitivity of securities risk
The sensitivity of debt securities portfolio (at fair value through profit or loss \u2013 i.e.
trading book is included in profit and at fair value through other comprehensive income
is included in other components of equity) to parallel shift of the interest rate curve by
2 percentage point is presented in the table below:
31 December 2025
31 December 2024
Pre-tax increase
Pre-tax increase
Total impact on
Pre-tax increase
Pre-tax increase
Total impact on
(decrease) in
(decrease) in other
equity (post-tax)
(decrease) in profit
(decrease) in other
equity (post-tax)
Group:
profit
components of equity
components of equity
Interest rate increase by 2 p.p.
(288)
(7,058)
(7,346)
(206)
(2,415)
(2,621)
Interest rate decrease by 2 p.p.
294
7,479
7,773
203
2,650
3,848
Bank:
Interest rate increase by 2 p.p.
(288)
(6,534)
(6,822)
(206)
(2,360)
(2,566)
Interest rate decrease by 2 p.p.
294
6,905
7,199
203
2,592
2,795
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-548": { "value": "3.1. Foreign exchange risk The management of the currency exchange risk is regulated by the \u201cCurrency Exchange Risk Management Procedures\u201d which specify the principles allowing the Group to reduce the incurred foreign currency fluctuation risk to minimum. The Group is not engaged in any speculative transactions through which it could expect to earn profit from the open currency positions after changes in currency rate. The limits are imposed by the Risk Management Committee and subject to review on demand. The Group and the Bank monitors the foreign currency risk by calculating open currency position. Open currency position (OCP) is equal to assets in the balance sheet and off-balance sheet less balance sheet and off-balance sheet liabilities in a single currency. There are two types of OCP, i.e. long and short. Long position means that Group\u2019s assets exceed liabilities in given currency, whereas short position means that liabilities exceed assets. The Financial Group and Bank also calculates Overall net open position (ONOP), which is the higher of the total short or total long positions. Open positions The Group\u2019s and Bank\u2019s open positions of prevailing currencies were as follows:
2025
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,553
7,346
377,158
390,057
Due from other banks
-
-
11,031
11,031
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
164
164
Loans granted to customers
-
-
3,713,724
3,713,724
Investment securities at fair value
2,448
228
502,020
504,696
Investment securities at amortized cost
-
-
1,356,852
1,356,852
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
40,560
40,560
Property, plant and equipment and investment property
-
-
15,495
15,495
Other assets
23
95
33,468
33,586
Total assets
8,024
7,669
6,059,777
6,075,470
Liabilities and Equity
Due to other banks and financial institutions
7,094
62
190,054
197,210
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,894,658
3,961,201
Debt securities in issue
-
-
1,034,463
1,034,463
Liabilities related to insurance activities
-
-
212,910
212,910
Other liabilities
2,730
92
60,481
63,303
Shareholders\u2019 equity
-
-
603,057
603,057
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,998,949
6,075,470
Net balance sheet position
(55,729)
(5,099)
60,828
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net position
2,347
375
(2,794)
(72)
2024
Group
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,742
5,928
382,466
395,136
Due from other banks
-
-
235,110
235,110
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,434,597
3,434,597
Investment securities at fair value
3,780
229
39,859
43,868
Investment securities at amortized cost
-
-
726,937
726,937
Investments in subsidiaries
-
-
270
270
Intangible assets
-
-
43,617
43,617
Property, plant and equipment and investment property
-
-
15,261
15,261
Other assets
102
9
23,498
23,609
Total assets
10,624
6,166
4,905,829
4,922,619
Liabilities and Equity
Due to other banks and financial institutions
6,915
10
222,899
229,824
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,319,484
3,397,045
Debt securities in issue
-
-
448,159
448,159
Liabilities related to insurance activities
-
-
198,432
198,432
Other liabilities
4,037
85
59,742
63,864
Shareholders\u2019 equity
-
-
585,172
585,172
Total liabilities and shareholders\u2019 equity
76,915
11,693
4,834,011
4,922,619
Net balance sheet position
(66,291)
(5,527)
71,818
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net position
1,492
1,402
(3,487)
(593)
2025
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
5,521
7,346
370,756
383,623
Due from other banks
-
-
10,038
10,038
Securities in the trading book
-
-
9,035
9,035
Derivative financial instruments
-
-
151
151
Loans granted to customers
-
-
3,691,955
3,691,955
Investment securities at fair value
258
-
254,716
254,974
Investment securities at amortized cost
-
-
1,348,506
1,348,506
Investments in subsidiaries
-
-
96,929
96,929
Intangible assets
-
-
6,498
6,498
Property, plant and equipment and investment property
-
-
15,183
15,183
Other assets
23
95
27,017
27,135
Total assets
5,802
7,441
5,830,784
5,844,027
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
7,094
62
191,110
198,266
Derivative financial instruments
-
-
3,326
3,326
Due to customers
53,929
12,614
3,895,438
3,961,981
Debt securities in issue
-
-
1,034,463
1,034,463
Other liabilities
2,730
92
38,447
41,269
Shareholders\u2019 equity
-
-
604,722
604,722
Total liabilities and shareholders\u2019 equity
63,753
12,768
5,767,506
5,844,027
Net balance sheet position
(57,951)
(5,327)
63,278
-
Open currency exchange transactions
58,076
5,474
(63,622)
(72)
Net open position
125
147
(344)
(72)
2024
Bank
USD
Other currencies
EUR
Total
Assets
Cash and cash equivalents
6,671
5,921
373,773
386,365
Due from other banks
-
-
13,543
13,543
Securities in the trading book
-
-
3,121
3,121
Derivative financial instruments
-
-
1,093
1,093
Loans granted to customers
-
-
3,421,904
3,421,904
Investment securities at fair value
236
43,384
43,620
Investment securities at amortized cost
-
-
716,864
716,864
Investments in subsidiaries
-
-
84,069
84,069
Intangible assets
-
-
7,859
7,859
Property, plant and equipment and investment property
-
-
14,689
14,689
Other assets
102
9
17,819
17,930
Total assets
7,009
5,930
4,698,118
4,711,057
Liabilities and shareholders\u2019 equity
Due to other banks and financial institutions
6,915
10
225,526
232,451
Derivative financial instruments
-
-
123
123
Due to customers
65,963
11,598
3,324,803
3,402,364
Debt securities in issue
-
-
448,159
448,159
Other liabilities
2,545
85
38,326
40,956
Shareholders\u2019 equity
-
-
587,004
587,004
Total liabilities and shareholders\u2019 equity
75,423
11,693
4,623,941
4,711,057
Net balance sheet position
(68,414)
(5,763)
74,177
-
Open currency exchange transactions
67,783
6,929
(75,305)
(593)
Net open position
(631)
1,166
(1,128)
(593)
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-523": { "value": "
4. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
4.1. Financial assets and liabilities not measured at fair value
The table below summarizes the carrying amounts and fair values of those financial
assets and liabilities not presented on the Bank\u2019s and Group\u2019s balance sheets at their
fair value. The valuation methods for the assets and liabilities are summarized below.
a) Loans and advances to banks
The carrying amount of floating rate placements and overnight deposits is a
reasonable approximation of fair value.
The fair value of fixed interest bearing deposits is estimated using valuation technique
attributable to Level 3 in the fair value hierarchy, based on discounted cash flows using
prevailing money-market interest rates for debts with similar credit risk and remaining
maturity.
b) Loans and advances to customers and finance lease receivables
Loans and advances and finance lease receivables are net of charges for impairment.
The fair value of loans and advances to customers and finance lease receivables is
estimated using valuation technique attributable to Level 3 in the fair value hierarchy.
The estimated fair value of loans, advances and finance lease receivables represents
the discounted amount of estimated future cash flows expected to be received.
Expected cash flows are discounted at current market rates (average interest rates on
outstanding loans published by the Bank of Lithuania) to determine fair value.
c) Investment securities
The fair value for held-to-collect assets is based on market prices or broker/dealer
price quotations \u2013 i.e. it is estimated using valuation technique attributable to Level 1
in the fair value hierarchy.
d) Deposits from banks, due to customers, debt securities in issue and special
lending funds
The estimated fair value of deposits with no stated maturity, which includes non-
interest bearing deposits, is the amount repayable on demand.
The fair value of fixed interest-bearing deposits, debt securities in issue and special
and lending funds not quoted in an active market is estimated using valuation
technique attributable to Level 3 in the fair value hierarchy based on discounted cash
flows using interest rates for new debts with similar remaining maturity. Interest rates
for new deposits of Artea Bank are used for calculation purposes as discount rates.
e) Other financial assets and other financial liabilities
The fair value of lease liabilities is estimated using valuation technique attributable to
Level 3 in the fair value hierarchy based on discounted cash flows using interest rates
for new leases with similar remaining maturity. The estimated fair value of other
financial assets and liabilities is similar to the carrying value due to short maturities of
these assets and liabilities.
Group
As of 31 December 2025
As of 31 December 2024
Assets
Carrying amount
Fair value
Carrying amount
Fair value
Due from other banks
9,035
9,035
3,121
3,121
Loans
3,713,724
3,721,864
3,434,598
3,440,081
Loans to individuals:
1,624,035
1,650,624
1,474,607
1,486,184
Consumer loans -
324,409
344,406
305,329
319,420
Mortgages -
1,041,283
1,040,214
915,760
906,702
Other -
203,216
207,001
210,393
211,375
Finance lease
55,127
59,003
43,125
48,687
Loans to business customers
2,066,213
2,049,972
1,939,704
1,936,491
Loans
1,773,931
1,786,639
1,665,932
1,636,621
Finance lease
292,282
263,333
273,772
299,870
Loans and advances to financial institutions
23,476
21,268
20,287
17,405
Investment securities at amortized cost
1,356,852
1,345,170
726,937
712,961
Government bonds -
1,343,750
1,335,602
695,622
686,774
Corporate bonds -
13,102
9,568
31,315
26,187
Other financial assets
8,210
8,210
7,258
7,258
Liabilities
Due to other banks and financial institutions
197,210
197,250
229,824
229,317
Due to customers
3,961,201
3,972,181
3,397,045
3,547,785
Due to individuals
2,498,821
2,508,812
2,254,475
2,196,105
Due to private companies
1,152,708
1,153,556
839,309
1,068,879
Due to other enterprises
309,672
309,813
303,261
282,801
Debt securities in issue
1,034,463
1,039,806
448,159
450,008
Other financial liabilities
45,020
47,228
46,426
47,228
Bank
As of 31 December 2025
As of 31 December 2024
Carrying amount
Fair value
Carrying amount
Fair value
Assets
Due from other banks
9,035
9,035
3,121
3,121
Loans
3,691,955
3,681,206
3,421,904
3,414,786
Loans to individuals:
1,301,493
1,308,089
1,171,096
1,168,567
Consumer loans -
1,867
1,871
1,818
1,803
Mortgages -
1,041,283
1,040,214
915,760
906,702
Other -
203,216
207,001
210,393
211,375
Finance lease
55,127
59,003
43,125
48,687
Loans to business customers
2,066,213
2,049,972
1,939,704
1,936,491
Loans
1,773,931
1,786,639
1,665,932
1,636,621
Finance lease
292,282
263,333
273,772
299,870
Loans and advances to financial institutions
324,249
323,145
311,104
309,728
Investment securities at amortized cost
1,348,506
1,344,936
716,864
713,388
Government bonds -
1,338,911
1,335,448
690,083
687,046
Corporate bonds -
9,595
9,488
26,781
26,342
Other financial assets
7,345
7,345
6,559
6,559
Liabilities
Due to other banks and financial institutions
198,266
198,306
232,451
231,944
Due to customers
3,961,981
3,972,961
3,402,364
3,412,177
Due to individuals
2,498,821
2,508,812
2,187,936
2,196,105
Due to private companies
1,153,488
1,154,336
908,795
910,234
Other
309,672
309,813
305,633
305,838
Debt securities in issue
1,034,463
1,039,806
448,159
450,008
Other financial liabilities
39,917
40,854
39,245
40,039
4.2. Financial assets and liabilities measured at fair value
a) Fair value hierarchy
The table below analyses financial instruments carried at fair value, by a hierarchy of
valuation techniques based on whether the inputs to those valuation techniques are
observable or unobservable. Observable inputs reflect market data obtained from
independent sources; unobservable inputs reflect the Group\u2019s market assumptions.
These two types of inputs have created the following fair value hierarchy:
\u2022 Level 1 \u2013 quoted prices (unadjusted) in active markets for identical assets
or liabilities. This level includes listed equity securities and debt
instruments on exchanges (for example, NASDAQ Stock Exchange,
London Stock Exchange, Frankfurt Stock Exchange) or public price
quotations (for example, for Lithuanian government bonds, average price
quotations from the most active banks that participate in the primary
placement auctions of the Lithuanian Government securities are used).
\u2022 Level 2 \u2013 inputs other than quoted prices included within Level 1 that are
observable for the asset or liability, either directly (that is, as prices) or
indirectly (that is, derived from prices). The Group uses fair value
calculated based on Level 2 inputs for accounting of currency derivatives
and derivatives related to prices of equity instruments.
\u2022 Level 3 \u2013 inputs for the asset or liability that are not based on observable
market data (unobservable inputs). This level includes Group\u2019s
investments into listed and unlisted equity securities, corporate bonds,
investment fund units and Loans granted. Details on fair value
measurement of these instruments are described in subsection \u201cDetails on
the main models used in valuation of Level III instruments\u201d (Financial Risk
Management disclosure, section 4.2.b), below.
b) Measurement of financial assets and liabilities according to the fair value hierarchy
2025
Group
Bank
LEVEL I
LEVEL II
LEVEL III
LEVEL I
LEVEL II
LEVEL III
Financial assets in the trading book
1
8,765
2,429
1
8,752
1,436
Derivative financial instruments
-
164
-
-
151
-
Listed equity securities
1
26
-
1
26
-
Investment fund units
-
-
-
-
-
-
Government bonds
-
-
-
-
-
-
Corporate bonds
-
8,575
2,429
-
8,575
1,436
Investment securities at fair value
391,485
98,259
14,952
224,522
28,388
2,064
Government bonds
235,050
34,452
-
218,867
25,065
-
Corporate bonds
23,429
5,299
113,
5,655
3,323
66
Other listed equity securities
1,645
-
10,169
-
-
-
Unlisted equity securities
-
-
1,998
-
-
1,998
Investment fund units
131,361
58,508
2,672
-
-
-
Financial liabilities at fair value in profit or loss
-
3,326
-
-
3,326
-
Derivative financial instruments
-
3,326
-
-
3,326
-
Securitisation related financial assets
-
-
6,473
-
-
6,473
Unlisted equity securities
-
-
270
-
-
270
Loans granted
-
-
6,203
-
-
6,203
Total
391,486
110,350
23,854
224,523
40,466
9,973
2024
Group
Bank
LEVEL I
LEVEL II
LEVEL III
LEVEL I
LEVEL II
LEVEL III
Financial assets in the trading book
193,840
6,364
20,133
171
6,364
8,101
Derivative financial instruments
-
1,093
-
-
1,093
-
Listed equity securities
1,858
-
-
22
-
-
Investment fund units
163,435
-
12,032
-
-
-
Government bonds
10,789
-
-
-
-
-
Corporate bonds
17,758
5,271
8,101
149
5,271
8,101
Investment securities at fair value
10,255
46,850
2,629
10,255
30,984
2,381
Government bonds
-
36,597
-
-
24,327
-
Corporate bonds
10,255
9,084
-
10,255
6,657
-
Unlisted equity securities
-
-
541
-
-
293
Investment fund units
-
1,169
2,088
-
-
2,088
Financial liabilities at fair value in profit or loss
-
123
-
-
123
-
Derivative financial instruments
123
-
123
-
Securitisation related financial assets
-
-
6,407
-
-
6,407
Unlisted equity securities
-
-
270
-
-
270
Loans granted
-
-
6,137
-
-
6,137
Total
204,095
53,337
29,169
10,426
37,471
16,889
Details on the main models used in valuation of Level III instruments:
Corporate bonds. The most commonly used fair value measurement technique in the
Group is the valuation of discounted cash flows from securities performed using an
internal model for the valuation of unlisted securities.
Unlisted equity securities. Most commonly used fair value measures in the Group
are valuations from external independent certified appraisers or assessment of
discounted cash flows from the security carried out by employees of the Group.
Investments funds. that are not publicly traded and/or whose net asset value or unit
value is not determined daily are valued based on the most recently determined net
asset value or the last published/submitted unit value. This value may be adjusted to
reflect changes, such as significant events, capital calls, distributions of liabilities,
income distributions, or other relevant factors. The Group's valuation is based on
information provided by asset managers regarding net asset value or unit price. The
Group does not prepare quantitative unobservable data, and such data is not available
to the Group.
Investment contracts of the Group may be terminated at any time, and contract holders
are entitled to redeem the value of their contracts equal to the value of the associated
assets. Consequently, investment contract liabilities are measured based on the
market value of the financial instruments linked to those contracts.
2025
2024
Unobservable Input
Estimate Range
Estimate Range
Corporate bonds
Probablility of Default (PD)
0.5 \u2013 6 %
0.5 - 6 %
Discount Rate
4 - 12 %
4 - 14 %
Unlisted equity securities
Discount Rate (WACC)
8 - 13 %
8 - 15 %
Investments funds
Fund-reported NAV
Investment based
Investment based
4.3. Offsetting financial assets and financial liabilities
As of 31 December 2025, and 31 December 2024, only currency derivative
instruments were subject to master netting arrangements and similar arrangements.
As of 31 December 2025, derivative financial instruments classified as assets in
amount of EUR 3,326 thousand and derivative financial instruments classified as
liabilities in amount of EUR 164 thousand were subject to those agreements.
As of 31 December 2024, derivative financial instruments classified as assets in
amount of EUR 123 thousand and derivative financial instruments classified as
liabilities in amount of EUR 1,093 thousand were subject to those agreements.
The Group receives collateral in the form of marketable securities in respect of reverse
repurchase agreements, which are included in loans to customers. Gross amount of
reverse repurchase agreements: 31 December 2025: EUR 30,971 thousand; 31
December 2024: EUR 30,189 thousand.
Securities received as a collateral for reverse repurchase agreements can be pledged
or sold during the term of transaction but have to be returned on maturity of the
transaction. The Group did not pledge or sell any collateral received for reverse
repurchase agreements during 2025 and 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-524": { "value": "
12. CAPITAL MANAGEMENT
The Bank and its subsidiaries, within the prudential scope of consolidation (the
Financial Group, see Note 28), manage capital in accordance with the Capital
Requirements Regulation and Directive (CRR/CRD IV). Capital is allocated to ensure
adequate risk coverage and to support the Group\u2019s financial stability and growth
objectives.
Objectives of Capital Management:
\u2022 Regulatory Compliance: To meet the capital requirements set by the
European Parliament and the Council, as well as the Bank\u2019s internal
capital targets.
\u2022 Going Concern Assurance: To maintain a strong capital position that
supports the Group\u2019s long-term sustainability and ability to generate
value for shareholders and other stakeholders.
\u2022 Business Growth: To underpin the development and expansion of Group
activities through a resilient capital base.
The Bank submits capital adequacy reports to the supervisory authority on a quarterly
basis, in full compliance with CRR/CRD IV provisions. For the years ended 31
December 2025 and 31 December 2024, both the Bank and the Financial Group
complied with all applicable capital requirements.
Solvency II Compliance (Artea Life Insurance UAB)
The Bank\u2019s insurance subsidiary, Artea Life Insurance GD UAB, is subject to the
Solvency II Directive. It is required to maintain own funds in excess of both the
Solvency Capital Requirement (SCR) and the Minimum Capital Requirement (MCR)
at all times. These capital levels ensure that the company can absorb potential losses
and meet obligations to policyholders.
\u2022 The Solvency II ratio is calculated and reported quarterly to the Bank of
Lithuania.
\u2022 As of 31 December 2025 and 31 December 2024, Artea Life Insurance
GD UAB was fully compliant with Solvency II capital requirements.
Other Group Entities
Other subsidiaries within the Group are not individually subject to sector-specific
capital supervision. Instead, they adhere to general corporate capital rules set out in
the Law on Companies of the Republic of Lithuania:
\u2022 Minimum share capital requirement: EUR 2,500;
\u2022 Shareholders\u2019 equity must not fall below 50% of the company\u2019s share
capital, with corrective actions required within a prescribed timeframe if
this threshold is breached.
Overall Group Compliance
For the years ended 31 December 2025 and 31 December 2024, the Bank and all
Group entities remained in full compliance with their respective prudential and
regulatory capital requirements.
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
Impairment losses on loans and finance lease receivables
The Bank and the Group assess impairment of loans and finance leases on a quarterly
basis. Impairment calculations rely on various judgements, including forward-looking
assumptions, client financial performance, credit ratings, and asset recoverability.
These assumptions are reviewed regularly to align estimates with actual outcomes.
However, the calculated impairment loss as of 31 December 2025 may still be
inadequate to reflect the full extent of loan portfolio losses. Please refer to Section
1.3.b of the Financial Risk Management Disclosure for sensitivity analysis.
Impairment losses on investments in subsidiaries
The Bank tests its investments in subsidiaries for impairment when indicators arise,
assessing the recoverable amount based on discounted future cash flows. These
estimates include inflows from management, sales of assets, and financing activities.
Discount rates are based on current capital costs. Management applies judgement in
estimating cash flows and discount rates for impairment testing. Further information
regarding Impairment losses on investments in subsidiaries is provided in Note 14.
Impairment of goodwill
Goodwill is tested annually for impairment, with cash-generating units valued using
present value techniques. Judgement is applied in estimating future cash flows and
discount rates. Further information regarding Impairment of goodwill is provided in
Note 15.
Liabilities related to insurance activities
Liabilities are determined using assumptions and estimates, reviewed regularly based
on historical data and future expectations. Please refer to Section 5 of the Financial
Risk Management Disclosure for sensitivity analysis.
Fair value measurements for Level 3 assets or liabilities
For Level 3 fair value measurements, the Group uses unobservable inputs. Judgement
is applied in choosing valuation methodologies, cash flows, and discount rates. Please
refer to Section 4 of the Financial Risk Management Disclosure for details on fair value
approaches.
Taxes
Tax authorities may inspect the Bank and other group components records up to five
years after the tax year. The Group\u2019s management is not aware of any significant
potential tax liabilities. Deferred tax assets recognized as of 31 December 2025 are
based on assumptions of future profitability. Any changes to these assumptions may
result in adjustments to the recognized tax assets.
Non-consolidated entities
In 2025, the Bank established a subsidiary, UAB \"Artea Retrofit Fund 2\" in which it
holds a 100% share. The operating principles of this entity do not significantly differ
from those of UAB \"Artea Retrofit Fund 1\" a subsidiary established by the Bank in
2022, where the Bank also holds a 100% share. Both of these Group entities
(hereinafter \u2013 the Funds) are not consolidated in the Group consolidated Financial
Statements. The Bank\u2019s management has determined that due to the restrictions
imposed on the Funds' activities under the Cooperation Agreement concluded
between the Bank and the European Investment Bank (hereinafter \u2013 EIB), as well as
agreements with investors investing in the Funds' activities, the Bank does not receive
variable returns in its capacity as a shareholder of the Funds. The Bank acts as an
agent for the EIB and other investors rather than as a principal in the operations of the
Funds, and therefore, it is not required to consolidate these subsidiaries. Further
information on activities related to the Funds and transactions with UAB \" Artea Retrofit
Fund 1\" and UAB \"Artea Retrofit Fund 2\" is provided in Notes 14.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-4": { "value": "SEGMENT INFORMATION In relation to adjusted strategy of the Bank, business model and strategic decisions are divided into three business lines \u2013 corporate, private and investment. A summary of major indicators for the main business segments of the Group included in the Statement of financial position as at 31 December 2025 and in the Statement of comprehensive income for 2025 period then ended is presented in the table below.
Segmentation by profit centres
2025-12-31
Corporate
Private
Investment
Total
Net interest income
84,821
55,751
(2,229)
138,343
Net fee and commission income
14,544
8,782
7,640
30,966
Net gain from insurance activities
-
65
7,143
7,208
Other income
5,683
278
7,351
13,312
Salaries and related expenses
(22,986)
(23,145)
(8,983)
(55,114)
Other expenses
(23,237)
(25,461)
(7,871)
(56,569)
Impairment increase (decrease)
1,241
(5,071)
(58)
(3,888)
Profit before income tax
60,067
11,199
2,993
74,259
Income tax
(10,978)
(2,047)
(547)
(13,572)
Net profit centre result
49,089
9,152
2,446
60,687
Total segment assets
2,225,533
1,439,359
2,410,578
6,075,470
A summary of major indicators for the main business segments of the Group included in the Statement of financial position as at 31 December 2024. and in the Statement of comprehensive income for 2024 period then ended is presented in the table below.
Segmentation by profit centres
2024-12-31
Corporate
Private
Investment
Total
Net interest income
90,664
54,065
15,480
160,209
Net fee and commission income
13,742
9,373
5,965
29,080
Net gain from insurance activities
-
1,078
4,384
5,462
Other income
2,912
1,416
3,887
8,215
Salaries and related expenses
(21,651)
(20,305)
(7,551)
(49,507)
Other expenses
(16,911)
(22,842)
(6,364)
(46,117)
Impairment expenses
(5,092)
(5,926)
122
(10,896)
Profit before income tax
63,664
16,859
15,923
96,446
Income tax
(11,657)
(3,086)
(2,916)
(17,659)
Net profit centre result
52,007
13,773
13,007
78,787
Total segment assets
2,113,076
1,314,491
1,495,053
4,922,620
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-525": { "value": "
NOTE 1
NET INTEREST INCOME
2025
2024
Interest revenue calculated using the effective interest method (on financial
Group
Bank
Group
Bank
assets at amortized cost and fair value through other comprehensive income):
223,250
203,759
243,478
227,237
on loans to other banks and financial institutions and placements with credit institutions
10,613
10,571
21,001
35,202
on loans to customers
194,168
174,854
208,163
177,861
on debt securities at amortized cost
18,469
18,334
13,933
13,793
on debt securities at fair value through other comprehensive income
-
-
381
381
Other similar income:
23,066
21,567
26,735
24,953
on debt securities at fair value through profit or loss
2,654
1,156
3,072
1,292
on finance leases
19,538
19,537
22,829
22,827
other interest income
874
874
834
834
Total interest income
246,316
225,326
270,213
252,190
Interest expense:
on financial liabilities measured at amortised cost
(107,963)
(108,006)
(109,985)
(110,138)
on other liabilities
(10)
-
(19)
(8)
Total interest expense
(107,973)
(108,006)
(110,004)
(110,146)
Net interest income
138,343
117,320
160,209
142,044
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-549": { "value": "NOTE 1 NET INTEREST INCOME
2025
2024
Interest revenue calculated using the effective interest method (on financial
Group
Bank
Group
Bank
assets at amortized cost and fair value through other comprehensive income):
223,250
203,759
243,478
227,237
on loans to other banks and financial institutions and placements with credit institutions
10,613
10,571
21,001
35,202
on loans to customers
194,168
174,854
208,163
177,861
on debt securities at amortized cost
18,469
18,334
13,933
13,793
on debt securities at fair value through other comprehensive income
-
-
381
381
Other similar income:
23,066
21,567
26,735
24,953
on debt securities at fair value through profit or loss
2,654
1,156
3,072
1,292
on finance leases
19,538
19,537
22,829
22,827
other interest income
874
874
834
834
Total interest income
246,316
225,326
270,213
252,190
Interest expense:
on financial liabilities measured at amortised cost
(107,963)
(108,006)
(109,985)
(110,138)
on other liabilities
(10)
-
(19)
(8)
Total interest expense
(107,973)
(108,006)
(110,004)
(110,146)
Net interest income
138,343
117,320
160,209
142,044
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-5": { "value": "NOTE 1 NET INTEREST INCOME
2025
2024
Interest revenue calculated using the effective interest method (on financial
Group
Bank
Group
Bank
assets at amortized cost and fair value through other comprehensive income):
223,250
203,759
243,478
227,237
on loans to other banks and financial institutions and placements with credit institutions
10,613
10,571
21,001
35,202
on loans to customers
194,168
174,854
208,163
177,861
on debt securities at amortized cost
18,469
18,334
13,933
13,793
on debt securities at fair value through other comprehensive income
-
-
381
381
Other similar income:
23,066
21,567
26,735
24,953
on debt securities at fair value through profit or loss
2,654
1,156
3,072
1,292
on finance leases
19,538
19,537
22,829
22,827
other interest income
874
874
834
834
Total interest income
246,316
225,326
270,213
252,190
Interest expense:
on financial liabilities measured at amortised cost
(107,963)
(108,006)
(109,985)
(110,138)
on other liabilities
(10)
-
(19)
(8)
Total interest expense
(107,973)
(108,006)
(110,004)
(110,146)
Net interest income
138,343
117,320
160,209
142,044
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-6": { "value": "NOTE 2 NET FEE AND COMMISSION INCOME
2025
2024
Fee and commission income:
Group
Bank
Group
Bank
for administration of loans of third parties
8,710
8,710
7,526
7,526
for settlement services
5,389
5,389
5,144
5,146
for cash operations
3,920
3,920
4,097
4,097
for account administration
6,529
6,529
6,545
6,545
for guarantees, letters of credit, documentary collection
966
962
1,072
1,072
for collection of utility and similar payments
256
256
254
254
for services related to securities
5,274
5,274
4,896
4,947
for services related to pension and investment funds management
8,757
-
7,548
-
other fee and commission income
966
2,352
939
3,000
Total fee and commission income
40,767
33,392
38,021
32,587
Fee and commission expense:
for payment cards
(6,144)
(6,144)
(5,435)
(5,434)
for cash operations
(466)
(466)
(632)
(632)
for correspondent bank and payment system fees
(563)
(428)
(619)
(483)
for services related to securities
(1,193)
(1,193)
(1,027)
(1,027)
for services related to pension and investment funds management
(878)
-
(65)
-
other fee and commission expenses
(557)
(535)
(1,163)
(468)
Total fee and commission expense
(9,801)
(8,766)
(8,941)
(8,044)
Net fee and commission income
30,966
24,626
29,080
24,543
", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-526": { "value": "
NOTE 3
REVENUE AND EXPENSES RELATED TO INSURANCE ACTIVITIES
Revenue and expenses from insurance main activities are presented in the tables
below.
REVENUE RELATED TO INSURANCE ACTIVITIES
Group
2025
2024
Amounts relating to changes in LFRC
- Expected benefits incurred
3,056
3,017
- Expected expenses incurred
3,503
3,390
- Change in the risk adjustment
2,210
268
- CSM recognized
2,660
2,780
Recovery of acquisition cash flows
1,226
996
Other insurance related revenue
2,749
2,639
Total
15,404
13,090
EXPENSES RELATED TO INSURANCE ACTIVITIES
Group
2025
2024
Incurred claims expenses
(2,720)
(2 472)
Losses on onerous contracts and reversal of those losses
(176)
(354)
Insurance acquisition costs
(869)
(435)
Other expenses
(2,860)
(3 652)
Interest accrued to insurance contracts
(1,876)
(2 762)
Change in financial assumptions through P&L
(6,316)
(10 092)
Changes related to effect of discount rates applied on initial recognition
15
32
Change in financial liabilities
(161)
11
Commissions for investment contracts
(989)
(1 023)
Total
(15,952)
(20 747)
INSURANCE NET GAIN FROM TRADING
Group
2025
2024
Securities in the trading book:
Realised gain (loss) on equity securities
387
6,219
Unrealised gain (loss) on equity securities
7,028
5,107
Realised gain on debt securities
85
589
Unrealised gain (loss) on debt securities
159
995
Net gain (loss) on securities in the trading book
7,659
12,910
Investment securities:
Dividend and other income from investment equities
121
191
Net gain on investment securities
121
191
Net gain from foreign exchange and related derivatives
(24)
18
Total
7,756
13,119
Group's internal policy allows frequent, but strictly limited in scale and
infrequent but larger scale sales of debt securities at amortized cost.
RESULT FROM REINSURANCE CONTRACTS HELD
Group
2025
2024
Amounts relating to changes in LFRC
- Expected recovery of claims and other expenses
(156)
(133)
- Change in the risk adjustment
(2)
(2)
- CSM recognized
(110)
(7)
Allocation of reinsurer premium
(268)
(142)
- Amounts recovered for claims and other expenses
118
41
- Changes that relate to past service - recoverable claims and other expenses
12
17
Amounts recoverable from reinsurer and incurred expenses
130
58
Total
(138)
(84)
INSURANCE FINANCE RESULT
Group
2025
2024
Interest accrued to insurance contracts
(1,876)
(2,762)
Change in financial assumptions through P&L
(6,316)
(10,092)
Effect of unlocking CSM at locked-in rates and FCF at current rates
15
32
Change in assets covering insurance contract liabilities
8,098
13,616
Insurance finance result
(79)
794
Group
2025
2024
Interest accrued to insurance contracts
1
1
Change in financial assumptions through P&L
-
-
Effect of unlocking CSM at locked-in rates and FCF at current rates
-
-
Change in assets covering reinsurance contract liabilities
Reinsurance finance result
1
1
", "dimensions": { "concept": "ifrs-full:DisclosureOfInsurancePremiumRevenueExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-7": { "value": "NOTE 3 REVENUE AND EXPENSES RELATED TO INSURANCE ACTIVITIES Revenue and expenses from insurance main activities are presented in the tables below. REVENUE RELATED TO INSURANCE ACTIVITIES
Group
2025
2024
Amounts relating to changes in LFRC
- Expected benefits incurred
3,056
3,017
- Expected expenses incurred
3,503
3,390
- Change in the risk adjustment
2,210
268
- CSM recognized
2,660
2,780
Recovery of acquisition cash flows
1,226
996
Other insurance related revenue
2,749
2,639
Total
15,404
13,090
EXPENSES RELATED TO INSURANCE ACTIVITIES
Group
2025
2024
Incurred claims expenses
(2,720)
(2 472)
Losses on onerous contracts and reversal of those losses
(176)
(354)
Insurance acquisition costs
(869)
(435)
Other expenses
(2,860)
(3 652)
Interest accrued to insurance contracts
(1,876)
(2 762)
Change in financial assumptions through P&L
(6,316)
(10 092)
Changes related to effect of discount rates applied on initial recognition
15
32
Change in financial liabilities
(161)
11
Commissions for investment contracts
(989)
(1 023)
Total
(15,952)
(20 747)
INSURANCE NET GAIN FROM TRADING
Group
2025
2024
Securities in the trading book:
Realised gain (loss) on equity securities
387
6,219
Unrealised gain (loss) on equity securities
7,028
5,107
Realised gain on debt securities
85
589
Unrealised gain (loss) on debt securities
159
995
Net gain (loss) on securities in the trading book
7,659
12,910
Investment securities:
Dividend and other income from investment equities
121
191
Net gain on investment securities
121
191
Net gain from foreign exchange and related derivatives
(24)
18
Total
7,756
13,119
Group's internal policy allows frequent, but strictly limited in scale and infrequent but larger scale sales of debt securities at amortized cost. RESULT FROM REINSURANCE CONTRACTS HELD
Group
2025
2024
Amounts relating to changes in LFRC
- Expected recovery of claims and other expenses
(156)
(133)
- Change in the risk adjustment
(2)
(2)
- CSM recognized
(110)
(7)
Allocation of reinsurer premium
(268)
(142)
- Amounts recovered for claims and other expenses
118
41
- Changes that relate to past service - recoverable claims and other expenses
12
17
Amounts recoverable from reinsurer and incurred expenses
130
58
Total
(138)
(84)
INSURANCE FINANCE RESULT
Group
2025
2024
Interest accrued to insurance contracts
(1,876)
(2,762)
Change in financial assumptions through P&L
(6,316)
(10,092)
Effect of unlocking CSM at locked-in rates and FCF at current rates
15
32
Change in assets covering insurance contract liabilities
8,098
13,616
Insurance finance result
(79)
794
Group
2025
2024
Interest accrued to insurance contracts
1
1
Change in financial assumptions through P&L
-
-
Effect of unlocking CSM at locked-in rates and FCF at current rates
-
-
Change in assets covering reinsurance contract liabilities
Reinsurance finance result
1
1
NOTE 4 NET GAIN FROM TRADING ACTIVITIES (EXCLUDING INSURANCE)
2025
2024
Group
Bank
Group
Bank
Net gain (losses) from operations with securities
4,890
4,595
606
551
Net gain from foreign exchange and related derivatives
9,922
9,923
404
404
Net gain (loss) from other derivatives
(4,852)
(4,852)
5,293
5,293
Net gain (loss) from hedge accounting
(1,210)
(1,210)
-
-
Total net gain from trading activities
8,750
8,456
6,303
6,248
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-550": { "value": "RESULT FROM REINSURANCE CONTRACTS HELD
Group
2025
2024
Amounts relating to changes in LFRC
- Expected recovery of claims and other expenses
(156)
(133)
- Change in the risk adjustment
(2)
(2)
- CSM recognized
(110)
(7)
Allocation of reinsurer premium
(268)
(142)
- Amounts recovered for claims and other expenses
118
41
- Changes that relate to past service - recoverable claims and other expenses
12
17
Amounts recoverable from reinsurer and incurred expenses
130
58
Total
(138)
(84)
", "dimensions": { "concept": "ifrs-full:DisclosureOfReinsuranceExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-551": { "value": "
NOTE 5
OTHER OPERATING EXPENSES
2025
2024
Group
Bank
Group
Bank
Rent of buildings and premises
(413)
(398)
(411)
(394)
Utility services for buildings and premises
(1,278)
(1,260)
(1,294)
(1,274)
Other expenses related to buildings and premises
(680)
(680)
(812)
(809)
Transportation expenses
(407)
(331)
(447)
(366)
Legal costs
(254)
(254)
(117)
(117)
Personnel and training expenses
(1,914)
(1,889)
(2,047)
(1,995)
IT and communication expenses
(25,660)
(23,939)
(16,697)
(14,864)
Marketing and charity expenses
(6,980)
(5,011)
(6,434)
(4,086)
Service organisation expenses
(8,261)
(7,838)
(4,761)
(4,389)
Non-income taxes, fines
(936)
(339)
(2,862)
(2,220)
Costs incurred due to debt recovery
(521)
(252)
(862)
(576)
Other expenses
(1,587)
(1,257)
(1,367)
(1,312)
Total
(48,891)
(43,448)
(38,111)
(32,402)
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-557": { "value": "NOTE 5 OTHER OPERATING EXPENSES
2025
2024
Group
Bank
Group
Bank
Rent of buildings and premises
(413)
(398)
(411)
(394)
Utility services for buildings and premises
(1,278)
(1,260)
(1,294)
(1,274)
Other expenses related to buildings and premises
(680)
(680)
(812)
(809)
Transportation expenses
(407)
(331)
(447)
(366)
Legal costs
(254)
(254)
(117)
(117)
Personnel and training expenses
(1,914)
(1,889)
(2,047)
(1,995)
IT and communication expenses
(25,660)
(23,939)
(16,697)
(14,864)
Marketing and charity expenses
(6,980)
(5,011)
(6,434)
(4,086)
Service organisation expenses
(8,261)
(7,838)
(4,761)
(4,389)
Non-income taxes, fines
(936)
(339)
(2,862)
(2,220)
Costs incurred due to debt recovery
(521)
(252)
(862)
(576)
Other expenses
(1,587)
(1,257)
(1,367)
(1,312)
Total
(48,891)
(43,448)
(38,111)
(32,402)
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-556": { "value": "NOTE 5 OTHER OPERATING EXPENSES
2025
2024
Group
Bank
Group
Bank
Rent of buildings and premises
(413)
(398)
(411)
(394)
Utility services for buildings and premises
(1,278)
(1,260)
(1,294)
(1,274)
Other expenses related to buildings and premises
(680)
(680)
(812)
(809)
Transportation expenses
(407)
(331)
(447)
(366)
Legal costs
(254)
(254)
(117)
(117)
Personnel and training expenses
(1,914)
(1,889)
(2,047)
(1,995)
IT and communication expenses
(25,660)
(23,939)
(16,697)
(14,864)
Marketing and charity expenses
(6,980)
(5,011)
(6,434)
(4,086)
Service organisation expenses
(8,261)
(7,838)
(4,761)
(4,389)
Non-income taxes, fines
(936)
(339)
(2,862)
(2,220)
Costs incurred due to debt recovery
(521)
(252)
(862)
(576)
Other expenses
(1,587)
(1,257)
(1,367)
(1,312)
Total
(48,891)
(43,448)
(38,111)
(32,402)
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-8": { "value": "NOTE 5 OTHER OPERATING EXPENSES
2025
2024
Group
Bank
Group
Bank
Rent of buildings and premises
(413)
(398)
(411)
(394)
Utility services for buildings and premises
(1,278)
(1,260)
(1,294)
(1,274)
Other expenses related to buildings and premises
(680)
(680)
(812)
(809)
Transportation expenses
(407)
(331)
(447)
(366)
Legal costs
(254)
(254)
(117)
(117)
Personnel and training expenses
(1,914)
(1,889)
(2,047)
(1,995)
IT and communication expenses
(25,660)
(23,939)
(16,697)
(14,864)
Marketing and charity expenses
(6,980)
(5,011)
(6,434)
(4,086)
Service organisation expenses
(8,261)
(7,838)
(4,761)
(4,389)
Non-income taxes, fines
(936)
(339)
(2,862)
(2,220)
Costs incurred due to debt recovery
(521)
(252)
(862)
(576)
Other expenses
(1,587)
(1,257)
(1,367)
(1,312)
Total
(48,891)
(43,448)
(38,111)
(32,402)
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-9": { "value": "NOTE 6 IMPAIRMENT LOSSES
2025
2024
Group
Bank
Group
Bank
Impairment losses on loans:
Impairment charge for the year, net (see Note 12)
5,533
5,662
11,575
5,187
Recoveries of loans previously written off
(196)
(133)
(176)
(161)
Total impairment losses (reversals) on loans
5,337
5,529
11,399
5,026
Impairment losses on finance lease receivables:
Impairment charge for the year, net (see Note 12)
(785)
(785)
(82)
(81)
Recovered previously written-off finance lease receivables
-
-
-
-
Total impairment losses (reversals) on finance lease receivables
(785)
(785)
(82)
(81)
Total impairment losses (reversals) on loans and finance lease receivables
4,552
4,744
11,317
4,945
Impairment losses on financial assets other than loans and finance lease
receivables:
Due from other banks: impairment charge, net (see Note 10)
14
14
(42)
(42)
Debt securities: impairment charge, net (see Note 13)
20
20
(150)
(148)
Other financial assets: impairment charge, net (see Note 17)
(679)
(744)
(120)
(120)
Total impairment losses on financial assets other than loans and finance lease
(645)
(710)
(312)
(310)
receivables:
Non-financial assets:
Goodwill: impairment charge
-
-
-
-
Non-financial assets other than goodwill: impairment charge
-
-
-
-
Non-financial assets other than goodwill: reversal of impairment charge
-
-
-
-
Total impairment losses on non-financial assets:
-
-
-
-
Provisions:
Provisions for pending legal issues: charge
-
-
-
-
Provisions for commitments and guarantees given: charge / (reversal)
(19)
-
(109)
-
Total provisions:
(19)
-
(109)
-
Total impairment losses on other assets
(664)
(710)
(421)
(310)
Total
3,888
4,034
10,896
4,635
The Bank and the Group held no significant direct loan positions in Russia, Belarus and Ukraine. 31 December 2024, the positions that were included in the Watch List was EUR 8 thousand. Of the impairment losses of EUR 390 thousand recognised as at 31 December 2022, a full reversal of impairment in the total amount was recognised as at 31 December 2024. As of 31 December 2025, there were no positions remaining that had been included in the Watchlist of Loans, and no new clients, due to geopolitical situation were added.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-527": { "value": "NOTE 7 INCOME TAX
2025
2024
Group
Bank
Group
Bank
Current tax
13,102
10,166
17,403
16,078
Deferred taxes
78
238
857
333
Deferred tax adjustment due to change in tax rate
445
-
-
-
Adjustment of previous year income tax
(53)
7
(601)
(601)
Total
13,572
10,411
17,659
15,810
2025
2024
Group
Bank
Group
Bank
Profit before income tax from continuing operations
74,528
70,895
96,446
95,097
Income tax calculated at 15% rate in 2024 and 16% rate in 2025
11,924
11,343
14,467
14,265
Income tax calculated at 5% rate
3,445
3,445
4,755
4,755
Non-taxable income
(13,137)
(6,218)
(10,506)
(1,410)
Expenses not deductible for tax purposes
11,326
1,834
10,544
163
Additional deduction for film production and charitable expenses
(1,361)
(1,361)
Adjustment of income tax calculated in prior years
14
7
(601)
(601)
Recognised tax losses for which deferred tax assets have not been recognised
361
-
Income tax expense
13,572
10,411
17,659
15,810
Deferred tax assets
Group
Bank
Revaluation
Goodwill and
Tax losses
Right of
Revaluation of
of assets
accruals
Other
carried
Total
Accruals
use
financial instruments
Total
forward
and other assets
At 1 January 2024
2,879
4,277
213
208
7,577
775
4
2,879
3,658
To be credited/(charged) to net profit
(979)
380
(85)
(208)
(892)
615
31
(979)
(333)
To be credited/ (charged) to other
comprehensive income
(609)
-
-
-
(609)
-
-
(609)
(609)
At 31 December 2024
1,291
4,657
128
-
6,076
1,390
35
1,291
2,716
To be credited/(charged) to net profit
(355)
924
(46)
-
523
161
(43)
(355)
(237)
To be credited/ (charged) to other
comprehensive income
(139)
-
-
-
(139)
-
-
(139)
(139)
At 31 December 2025
797
5,581
82
-
6,460
1,551
(8)
797
2,340
Deferred tax liabilities
Group
Funds management
Revaluation of financial
Total
rights (see Note 14)
instruments and other assets
At 1 January 2024
(4,574)
(1,551)
(6,125)
To be credited/(charged) to net profit
183
(199)
(16)
At 31 December 2024
(4,391)
(1,750)
(6,141)
To be credited/(charged) to net profit
(377)
33
(344)
At 31 December 2025
(4,768)
(1,717)
(6,485)
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities. In Group DTL and DTA not be offset due to differences in their origin.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-10": { "value": "NOTE 7 INCOME TAX
2025
2024
Group
Bank
Group
Bank
Current tax
13,102
10,166
17,403
16,078
Deferred taxes
78
238
857
333
Deferred tax adjustment due to change in tax rate
445
-
-
-
Adjustment of previous year income tax
(53)
7
(601)
(601)
Total
13,572
10,411
17,659
15,810
2025
2024
Group
Bank
Group
Bank
Profit before income tax from continuing operations
74,528
70,895
96,446
95,097
Income tax calculated at 15% rate in 2024 and 16% rate in 2025
11,924
11,343
14,467
14,265
Income tax calculated at 5% rate
3,445
3,445
4,755
4,755
Non-taxable income
(13,137)
(6,218)
(10,506)
(1,410)
Expenses not deductible for tax purposes
11,326
1,834
10,544
163
Additional deduction for film production and charitable expenses
(1,361)
(1,361)
Adjustment of income tax calculated in prior years
14
7
(601)
(601)
Recognised tax losses for which deferred tax assets have not been recognised
361
-
Income tax expense
13,572
10,411
17,659
15,810
Deferred tax assets
Group
Bank
Revaluation
Goodwill and
Tax losses
Right of
Revaluation of
of assets
accruals
Other
carried
Total
Accruals
use
financial instruments
Total
forward
and other assets
At 1 January 2024
2,879
4,277
213
208
7,577
775
4
2,879
3,658
To be credited/(charged) to net profit
(979)
380
(85)
(208)
(892)
615
31
(979)
(333)
To be credited/ (charged) to other
comprehensive income
(609)
-
-
-
(609)
-
-
(609)
(609)
At 31 December 2024
1,291
4,657
128
-
6,076
1,390
35
1,291
2,716
To be credited/(charged) to net profit
(355)
924
(46)
-
523
161
(43)
(355)
(237)
To be credited/ (charged) to other
comprehensive income
(139)
-
-
-
(139)
-
-
(139)
(139)
At 31 December 2025
797
5,581
82
-
6,460
1,551
(8)
797
2,340
Deferred tax liabilities
Group
Funds management
Revaluation of financial
Total
rights (see Note 14)
instruments and other assets
At 1 January 2024
(4,574)
(1,551)
(6,125)
To be credited/(charged) to net profit
183
(199)
(16)
At 31 December 2024
(4,391)
(1,750)
(6,141)
To be credited/(charged) to net profit
(377)
33
(344)
At 31 December 2025
(4,768)
(1,717)
(6,485)
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities. In Group DTL and DTA not be offset due to differences in their origin.", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-11": { "value": "NOTE 8 EARNINGS PER SHARE Basic earnings per share are calculated by dividing the net profit for the period by the weighted average number of ordinary shares in issue during the period. There were no potential ordinary shares at 31 December 2025 and 31 December 2024, therefore the Group had no dilutive potential ordinary shares and diluted earnings per share are equal to basic earnings per share. The number of shares in issue for the year ended 31 December 2025 was 652.399 and for the year ended 31 December 2024 was 662,997 thousand. Weighted average number of shares in issue for the year ended 31 December 2025 was 658.903 thousand (2024: 662,318 thousand). Basic earnings per share
Group
2025
2024
Net profit from continuing operations attributable to equity holders
60,686
78,787
Net profit (loss) from discontinued operations attributable to equity holders
-
-
Net profit attributable to equity holders
60,686
78,787
Weighted average number of shares in issue during the period (thousand units)
658,903
662,318
Basic earnings per share (EUR)
0.09
0.12
Basic earnings per share (EUR) from continuing operations
0.09
0.12
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-12": { "value": "NOTE 9 CASH AND CASH EQUIVALENTS
2025
2024
Group
Bank
Group
Bank
Cash and other valuables
75,294
74,612
79,537
79,184
Gross value in bank correspondent accounts:
254,314
248,562
267,311
258,891
Allowance for impairment
(18)
(18)
(6)
(4)
Total balances in bank correspondent accounts, net value
254,296
248,544
267,305
258,887
Correspondent account with Central Bank
40,403
40,403
28,106
28,106
Mandatory reserves in local currency, gross value
20,065
20,065
20,190
20,190
Mandatory reserves in local currency, allowance for impairment
(1)
(1)
(2)
(2)
Total placements with Central Bank, net value
60,467
60,467
48,294
48,294
Total
390,057
383,623
395,136
386,365
The compulsory reserves held in the Bank of Lithuania are estimated on a monthly basis based on the value of indicated liabilities using the established compulsory reserve rate. With effect from 1 January 2015, the compulsory reserve rate was set at 1%. The mandatory reserves are held with the Bank of Lithuania in the form of current deposits. The Bank is free to use the funds held in the current account with the Bank of Lithuania, the average monthly amount of which may be not less than the estimated compulsory reserves. The balances in bank correspondent accounts and placements with Central Bank are classified as Stage 1 financial assets. As of 31 December 2025, balances in correspondent accounts in amount of EUR 151 thousand (as of 31 December 2024 - EUR 585 thousand) were pledged for derivatives contracts. Liabilities from financing activities The tables below sets out movements in the Group\u2019s and Bank\u2019s liabilities from financing activities for each of the periods presented. The items of these liabilities are those that are reported as financing activities in the statement of cash flows.
Group
2025
2024
Dividends
Debt securities
Dividends
Debt securities
Lease
Lease liabilities
Total
Total
payable
in issue
payable
in issue
liabilities
As at 1 January
30
448,091
7,289
455,410
94
283,312
7,224
290,630
Dividends declared
39,796
-
-
39,796
32,095
-
-
32,095
Issuance in cash
-
597,307
-
597,307
-
375,000
-
375,000
Contract additions / terminations
-
(20,000)
1,017
(18,983)
-
(210,000)
1,063
(208,937)
Payment in cash
(39,719)
-
(2,809)
(42,528)
(32,159)
-
(1,039)
(33,198)
Redemption in cash
-
-
-
-
-
-
-
-
Accrued interest
-
39,920
160
40,080
-
13,166
41
13,207
Coupon payments in cash
-
(30,122)
-
(30,122)
-
(13,387)
-
(13,387)
Revaluation
-
(1,502)
-
(1,502)
-
-
-
-
As at of 31 December
107
1,033,694
5,657
1,039,458
30
448,091
7,289
455,410
Bank
2025
2024
Dividends
Debt securities
Dividends
Debt securities
Lease
Lease liabilities
Total
Total
payable
in issue
payable
in issue
liabilities
As at 1 January
30
448,091
6,453
454,574
94
283,312
6,393
289,799
Dividends declared
39,796
-
-
39,796
32,095
-
-
32,095
Issuance in cash
-
597,307
-
597,307
-
375,000
-
375,000
Contract additions / terminations
-
(20,000)
998
(19,002)
-
(210,000)
2,063
2,063
Payment in cash
(39,719)
-
(2,536)
(42,255)
(32,159)
-
(2,038)
(34,197)
Redemption in cash
-
-
-
-
-
-
-
-
Accrued interest
-
39,920
135
40,055
-
13,166
35
15,099
Coupon payments in cash
-
(30,122)
-
(30,122)
-
(13,387)
-
13,334
Revaluation
-
(1,502)
-
(1,502)
-
-
-
-
As at of 31 December
107
1,033,694
5,050
1,038,851
30
448,091
6,453
454,574
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-528": { "value": "
2025
2024
Group
Bank
Group
Bank
Cash and other valuables
75,294
74,612
79,537
79,184
Gross value in bank correspondent accounts:
254,314
248,562
267,311
258,891
Allowance for impairment
(18)
(18)
(6)
(4)
Total balances in bank correspondent accounts, net value
254,296
248,544
267,305
258,887
Correspondent account with Central Bank
40,403
40,403
28,106
28,106
Mandatory reserves in local currency, gross value
20,065
20,065
20,190
20,190
Mandatory reserves in local currency, allowance for impairment
(1)
(1)
(2)
(2)
Total placements with Central Bank, net value
60,467
60,467
48,294
48,294
Total
390,057
383,623
395,136
386,365
The compulsory reserves held in the Bank of Lithuania are estimated on a monthly basis based on the value of indicated liabilities using the established compulsory reserve rate. With effect from 1 January 2015, the compulsory reserve rate was set at 1%. The mandatory reserves are held with the Bank of Lithuania in the form of current deposits. The Bank is free to use the funds held in the current account with the Bank of Lithuania, the average monthly amount of which may be not less than the estimated compulsory reserves. The balances in bank correspondent accounts and placements with Central Bank are classified as Stage 1 financial assets. As of 31 December 2025, balances in correspondent accounts in amount of EUR 151 thousand (as of 31 December 2024 - EUR 585 thousand) were pledged for derivatives contracts. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndBankBalancesAtCentralBanksExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-13": { "value": "NOTE 10 DUE FROM OTHER BANKS
2025
2024
Group
Bank
Group
Bank
Pledged deposits
2,520
2,520
2,520
2,520
Term deposits
6,515
6,515
97
97
Loans
-
-
504
504
Gross value
9,035
9,035
3,121
3,121
Allowance for impairment
-
-
-
-
Net value
9,035
9,035
3,121
3,121
Breakdown due from other banks by the maturity:
,
Short-term (up to 1 year)
2,618
2,618
3,031
3,031
Long-term (over 1 year)
6,417
6,417
90
90
Total
9,035
9,035
3,121
3,121
As of 31 December 2025 pledged deposits consisted of funds pledged for derivatives contracts. As of 31 December 2025, term deposits amounting to EUR 2,520 thousand were pledged for the guarantees or letters of credit issued for the Bank\u2019s clients. As of 31 December 2024, term deposits amounting to EUR 2,520 thousand were pledged for the guarantees or letters of credit issued for the Bank\u2019s clients ", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-529": { "value": "NOTE 10 DUE FROM OTHER BANKS
2025
2024
Group
Bank
Group
Bank
Pledged deposits
2,520
2,520
2,520
2,520
Term deposits
6,515
6,515
97
97
Loans
-
-
504
504
Gross value
9,035
9,035
3,121
3,121
Allowance for impairment
-
-
-
-
Net value
9,035
9,035
3,121
3,121
Breakdown due from other banks by the maturity:
,
Short-term (up to 1 year)
2,618
2,618
3,031
3,031
Long-term (over 1 year)
6,417
6,417
90
90
Total
9,035
9,035
3,121
3,121
As of 31 December 2025 pledged deposits consisted of funds pledged for derivatives contracts. As of 31 December 2025, term deposits amounting to EUR 2,520 thousand were pledged for the guarantees or letters of credit issued for the Bank\u2019s clients. As of 31 December 2024, term deposits amounting to EUR 2,520 thousand were pledged for the guarantees or letters of credit issued for the Bank\u2019s clients . ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-530": { "value": "
NOTE 11
FINANCIAL ASSETS AND LIABILITIES IN THE TRADING BOOK
Total balances of financial assets and liabilities in the trading book are presented in the table below:
2025
2024
Assets:
Group
Bank
Group
Bank
Derivatives
164
151
1,093
1,093
Derivatives related to prices of financial instruments
-
-
-
-
Securities in the trading book
11,031
10,038
235,110
13,543
Liabilities:
Derivatives
(3,326)
(3,326)
(123)
(123)
Derivatives related to prices of financial instruments
-
-
-
-
Derivative Financial Instruments \u2013 Currency Derivatives
As of 31 December 2025 and 31 December 2024, the Group and the Bank had
exposure to currency forwards, which represent commitments to purchase and/or sell
foreign and local currency in the future at a fixed price.
2025
2024
Group
Bank
Group
Bank
Currency forwards:
Assets
164
151
1,093
1,093
Liabilities
(3,326)
(3,326)
(123)
(123)
Notional amount
85,004
85,004
93,434
93,434
Net gain (loss) from currency derivatives in profit or loss
(4,852)
(4,852)
5,293
5,293
Securities in the Trading Book
2025
2024
Group
Bank
Group
Bank
Trading debt securities:
11,004
10,011
56,617
13,521
Government bonds
-
-
23,059
-
Corporate bonds
11,004
10,011
33,558
13,521
Trading equity securities
27
27
19,900
22
Units of investment funds
-
-
158,593
-
Total securities in the trading book
11,031
10,038
235,110
13,543
Securities in the trading book are comprised of trading securities and other securities
that cover technical insurance provisions under unit-linked insurance contracts of life
insurance subsidiary. These securities are measured at fair value through profit or
loss.
Securities in the trading book have not been pledged as at 31 December 2025 and
2024. All of the securities in the trading book, except for unlisted securities, are
accounted at fair value that is determined using level 1 requirements as described in
fair value hierarchy in Section 4.2 of Financial Risk Management, i.e. fair value is
based on quoted prices in active markets for identical assets and liabilities. Unlisted
securities are accounted at fair value that is determined using level 3 requirements.
Breakdown of securities in the trading book as at 31 December 2025 and 2024:
2025
2024
Trading securities:
Group
Bank
Group
Bank
Debt securities
11,004
10,011
28,828
13,521
from AA- to AAA
-
-
3,492
-
from A- to A+
993
-
9,571
-
from BBB- to BBB+
-
-
1,812
-
from BB- to BB+
-
-
580
148
lower than BB-
-
-
-
-
no rating
10,011
10,011
13,373
13,373
Equity securities
27
27
19,900
22
Total trading securities
11,031
10,038
48,728
13,543
Other trading book securities:
Debt securities
-
-
27,789
-
from AA- to AAA
-
-
-
-
from A- to A+
-
-
10,210
-
from BBB- to BBB+
-
-
10,591
-
from BB- to BB+
-
-
6,454
-
lower than BB-
-
-
384
-
no rating
-
-
150
-
Equity securities
-
-
8,730
-
Total other trading book securities
-
-
36,159
-
units of investment funds
-
-
149,863
-
TOTAL
11,031
10,038
235,110
13,543
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-552": { "value": "NOTE 11 FINANCIAL ASSETS AND LIABILITIES IN THE TRADING BOOK Total balances of financial assets and liabilities in the trading book are presented in the table below:
2025
2024
Assets:
Group
Bank
Group
Bank
Derivatives
164
151
1,093
1,093
Derivatives related to prices of financial instruments
-
-
-
-
Securities in the trading book
11,031
10,038
235,110
13,543
Liabilities:
Derivatives
(3,326)
(3,326)
(123)
(123)
Derivatives related to prices of financial instruments
-
-
-
-
Derivative Financial Instruments \u2013 Currency Derivatives As of 31 December 2025 and 31 December 2024, the Group and the Bank had exposure to currency forwards, which represent commitments to purchase and/or sell foreign and local currency in the future at a fixed price.
2025
2024
Group
Bank
Group
Bank
Currency forwards:
Assets
164
151
1,093
1,093
Liabilities
(3,326)
(3,326)
(123)
(123)
Notional amount
85,004
85,004
93,434
93,434
Net gain (loss) from currency derivatives in profit or loss
(4,852)
(4,852)
5,293
5,293
Securities in the Trading Book
2025
2024
Group
Bank
Group
Bank
Trading debt securities:
11,004
10,011
56,617
13,521
Government bonds
-
-
23,059
-
Corporate bonds
11,004
10,011
33,558
13,521
Trading equity securities
27
27
19,900
22
Units of investment funds
-
-
158,593
-
Total securities in the trading book
11,031
10,038
235,110
13,543
Securities in the trading book are comprised of trading securities and other securities that cover technical insurance provisions under unit-linked insurance contracts of life insurance subsidiary. These securities are measured at fair value through profit or loss. Securities in the trading book have not been pledged as at 31 December 2025 and 2024. All of the securities in the trading book, except for unlisted securities, are accounted at fair value that is determined using level 1 requirements as described in fair value hierarchy in Section 4.2 of Financial Risk Management, i.e. fair value is based on quoted prices in active markets for identical assets and liabilities. Unlisted securities are accounted at fair value that is determined using level 3 requirements. Breakdown of securities in the trading book as at 31 December 2025 and 2024:
2025
2024
Trading securities:
Group
Bank
Group
Bank
Debt securities
11,004
10,011
28,828
13,521
from AA- to AAA
-
-
3,492
-
from A- to A+
993
-
9,571
-
from BBB- to BBB+
-
-
1,812
-
from BB- to BB+
-
-
580
148
lower than BB-
-
-
-
-
no rating
10,011
10,011
13,373
13,373
Equity securities
27
27
19,900
22
Total trading securities
11,031
10,038
48,728
13,543
Other trading book securities:
Debt securities
-
-
27,789
-
from AA- to AAA
-
-
-
-
from A- to A+
-
-
10,210
-
from BBB- to BBB+
-
-
10,591
-
from BB- to BB+
-
-
6,454
-
lower than BB-
-
-
384
-
no rating
-
-
150
-
Equity securities
-
-
8,730
-
Total other trading book securities
-
-
36,159
-
units of investment funds
-
-
149,863
-
TOTAL
11,031
10,038
235,110
13,543
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-14": { "value": "NOTE 11 FINANCIAL ASSETS AND LIABILITIES IN THE TRADING BOOK Total balances of financial assets and liabilities in the trading book are presented in the table below:
2025
2024
Assets:
Group
Bank
Group
Bank
Derivatives
164
151
1,093
1,093
Derivatives related to prices of financial instruments
-
-
-
-
Securities in the trading book
11,031
10,038
235,110
13,543
Liabilities:
Derivatives
(3,326)
(3,326)
(123)
(123)
Derivatives related to prices of financial instruments
-
-
-
-
Derivative Financial Instruments \u2013 Currency Derivatives As of 31 December 2025 and 31 December 2024, the Group and the Bank had exposure to currency forwards, which represent commitments to purchase and/or sell foreign and local currency in the future at a fixed price.
2025
2024
Group
Bank
Group
Bank
Currency forwards:
Assets
164
151
1,093
1,093
Liabilities
(3,326)
(3,326)
(123)
(123)
Notional amount
85,004
85,004
93,434
93,434
Net gain (loss) from currency derivatives in profit or loss
(4,852)
(4,852)
5,293
5,293
Securities in the Trading Book
2025
2024
Group
Bank
Group
Bank
Trading debt securities:
11,004
10,011
56,617
13,521
Government bonds
-
-
23,059
-
Corporate bonds
11,004
10,011
33,558
13,521
Trading equity securities
27
27
19,900
22
Units of investment funds
-
-
158,593
-
Total securities in the trading book
11,031
10,038
235,110
13,543
Securities in the trading book are comprised of trading securities and other securities that cover technical insurance provisions under unit-linked insurance contracts of life insurance subsidiary. These securities are measured at fair value through profit or loss. Securities in the trading book have not been pledged as at 31 December 2025 and 2024. All of the securities in the trading book, except for unlisted securities, are accounted at fair value that is determined using level 1 requirements as described in fair value hierarchy in Section 4.2 of Financial Risk Management, i.e. fair value is based on quoted prices in active markets for identical assets and liabilities. Unlisted securities are accounted at fair value that is determined using level 3 requirements. Breakdown of securities in the trading book as at 31 December 2025 and 2024:
2025
2024
Trading securities:
Group
Bank
Group
Bank
Debt securities
11,004
10,011
28,828
13,521
from AA- to AAA
-
-
3,492
-
from A- to A+
993
-
9,571
-
from BBB- to BBB+
-
-
1,812
-
from BB- to BB+
-
-
580
148
lower than BB-
-
-
-
-
no rating
10,011
10,011
13,373
13,373
Equity securities
27
27
19,900
22
Total trading securities
11,031
10,038
48,728
13,543
Other trading book securities:
Debt securities
-
-
27,789
-
from AA- to AAA
-
-
-
-
from A- to A+
-
-
10,210
-
from BBB- to BBB+
-
-
10,591
-
from BB- to BB+
-
-
6,454
-
lower than BB-
-
-
384
-
no rating
-
-
150
-
Equity securities
-
-
8,730
-
Total other trading book securities
-
-
36,159
-
units of investment funds
-
-
149,863
-
TOTAL
11,031
10,038
235,110
13,543
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-553": { "value": "
NOTE 12
LOANS TO CUSTOMERS
Due to the macroeconomic situation, the Group maintained a cautious approach to
lending in 2024 \u2013 the Group\u2019s loan portfolio grew by 17% in 2024, primarily driven by
strong demand for retail loans, particularly housing and consumer loans. In 2025, the
Group\u2019s loan portfolio increased by 8%.
The Bank has provided loans as investment to securitization vehicle through Banks\u2019s
subsidiaries Pakeitimo vertybiniais popieriais Artea Retrofit Fund 1, UAB and
Pakeitimo vertybiniais popieriais Artea Retrofit Fund 2, UAB for financing
multiapartment buildings renovation projects. Bank\u2019s investments in securitization are
provided in several tranches to different investment layers bearing different risk levels.
The Bank\u2019s investments in the first-loss tranche of these unconsolidated subsidiaries
are measured at fair value and amounted to EUR 6,203 thousand as of 31 December
2025 (31 December 2024: EUR 6,137 thousand). Reconciliation of the gross loan
amount is presented in the following tables.
2025
2024
Group
Bank
Group
Bank
Gross loans to customers
3,762,780
3,728,430
3,484,872
3,456,021
Allowance for loan impairment
(55,259)
(42,678)
(56,412)
(40,254)
Net loans at amortized cost
3,707,521
3,685,752
3,428,460
3,415,767
Loans at fair value
6,203
6,203
6,137
6,137
Net loans to customers
3,713,724
3,691,955
3,434,597
3,421,904
Breakdown of loans to customers according to maturity
Short-term (up to 1 year)
726,647
920,820
637,032
829,552
Long-term (over 1 year)
2,987,077
2,771,135
2,797,565
2,592,352
Total
3,713,724
3,691,955
3,434,597
3,421,904
Group gross loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
3,186,836
225,786
78,388
3,491,010
2,677,647
219,746
84,490
2,981,883
Transfer between stages
(263,419)
197,222
66,197
-
(57,502)
39,165
18,337
-
New loans originated or loan amounts increased
1,478,512
389,918
17,784
1,886,214
1,266,858
40,320
5,907
1,313,085
Loans derecognized during the period (other than write-offs)
(1,147,023)
(403,920)
(51,388)
(1,602,331)
(700,169)
(73,364)
(25,031)
(798,564)
Loans written-off during the period and other movements
(3)
(20)
(5,887)
(5,910)
2
(81)
(5,315)
(5,394)
Gross carrying amount as at 31 December
3,254,903
408,986
105,094
3,768,983
3,186,836
225,786
78,388
3,491,010
Bank gross loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
2,897,520
496,347
68,292
3,462,159
2,433,386
447,163
76,914
2,957,463
Transfer between stages
(255,431)
193,384
62,047
-
(52,057)
38,669
13,388
-
New loans originated or loan amounts increased
1,335,465
394,335
16,863
1,746,663
1,116,357
75,451
3,485
1,195,293
Loans derecognized during the period (other than write-offs)
(1,027,594)
(395,340)
(48,795)
(1,471,729)
(600,170)
(64,938)
(23,123)
(688,231)
Loans written-off during the period and other movements
(2)
(5)
(2,453)
(2,460)
4
2
(2,372)
(2,366)
Gross carrying amount as at 31 December
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
Group gross loans to financial institutions
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
20,314
(1)
-
20,313
26,596
-
-
26,596
Transfer between stages:
from Stage 1 to Stage 2
-
-
-
-
-
-
-
-
from Stage 1 to Stage 3
-
-
-
-
-
-
-
-
from Stage 2 to Stage 1
-
-
-
-
-
-
-
-
from Stage 2 to Stage 3
-
-
-
-
-
-
-
-
from Stage 3 to Stage 1
-
-
-
-
-
-
-
-
from Stage 3 to Stage 2
-
-
-
-
-
-
-
-
New loans originated or loan amounts increased
23,547
290,285
1
313,833
20,314
(1)
-
20,313
Loans derecognized during the period (other than write-offs)
(20,314)
(290,284)
-
(310,598)
(26,596)
-
-
(26,596)
Loans written-off during the period and other movements
-
-
-
-
-
-
-
-
Gross carrying amount as at 31 December
23,547
-
1
23,548
20,314
(1)
-
20,313
Bank gross loans to financial institutions
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
20,314
290,817
-
311,131
26,596
247,553
-
274,149
Transfer between stages:
from Stage 1 to Stage 2
-
-
-
-
-
-
-
-
from Stage 1 to Stage 3
-
-
-
-
-
-
-
-
from Stage 2 to Stage 1
-
-
-
-
-
-
-
-
from Stage 2 to Stage 3
-
-
-
-
-
-
-
-
from Stage 3 to Stage 1
-
-
-
-
-
-
-
-
from Stage 3 to Stage 2
-
-
-
-
-
-
-
-
New loans originated or loan amounts increased
23,547
300,773
1
324,321
20,314
43,264
-
63,578
Loans derecognized during the period (other than write-offs)
(20,314)
(290,817)
-
(311,131)
(26,596)
-
-
(26,596)
Loans written-off during the period and other movements
-
-
-
-
-
-
-
-
Gross carrying amount as at 31 December
23,547
300,773
1
324,321
20,314
290,817
-
311,131
NOTE 12
LOANS TO CUSTOMERS (CONTINUED)
Group gross loans to individuals (retail)
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,405,661
60,832
32,380
1,498,873
1,232,643
46,885
32,243
1,311,771
Transfer between stages:
from Stage 1 to Stage 2
(81,871)
81,871
-
-
(34,816)
34,816
-
-
from Stage 1 to Stage 3
(12,623)
-
12,623
-
(11,280)
-
11,280
-
from Stage 2 to Stage 1
19,362
(19,362)
-
-
16,028
(16,028)
-
-
from Stage 2 to Stage 3
-
(9,886)
9,886
-
-
(5,569)
5,569
-
from Stage 3 to Stage 1
4,117
-
(4,117)
-
8,745
-
(8,745)
-
from Stage 3 to Stage 2
-
3,302
(3,302)
-
-
3,279
(3,279)
-
New loans originated or loan amounts increased
475,402
27,123
7,945
510,470
436,847
11,429
4,701
452,977
Loans derecognized during the period (other than write-offs)
(328,150)
(18,783)
(9,399)
(356,332)
(242,502)
(13,899)
(6,256)
(262,657)
Loans written-off during the period and other movements
2
(16)
(3,499)
(3,513)
(4)
(81)
(3,133)
(3,218)
Gross carrying amount as at 31 December
1,481,900
125,081
42,517
1,649,498
1,405,661
60,832
32,380
1,498,873
Bank gross loans to individuals (retail)
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,116,348
40,575
22,284
1,179,207
988,382
26,749
24,667
1,039,798
Transfer between stages:
from Stage 1 to Stage 2
(70,868)
70,868
-
-
(25,720)
25,720
-
-
from Stage 1 to Stage 3
(9,193)
-
9,193
-
(7,263)
-
7,263
-
from Stage 2 to Stage 1
14,101
(14,101)
-
-
9,498
(9,498)
-
-
from Stage 2 to Stage 3
-
(6,858)
6,858
-
-
(2,630)
2,630
-
from Stage 3 to Stage 1
2,933
-
(2,933)
-
7,607
-
(7,607)
-
from Stage 3 to Stage 2
-
2,178
(2,178)
-
-
2,410
(2,410)
-
New loans originated or loan amounts increased
332,355
21,052
7,024
360,431
286,347
3,295
2,279
291,921
Loans derecognized during the period (other than write-offs)
(208,721)
(9,670)
(6,806)
(225,197)
(142,503)
(5,473)
(4,348)
(152,324)
Loans written-off during the period and other movements
3
(1)
(65)
(63)
-
2
(190)
(188)
Gross carrying amount as at 31 December
1,176,958
104,043
33,377
1,314,378
1,116,348
40,575
22,284
1,179,207
Group gross loans to business customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,760,861
164,955
46,008
1,971,824
1,418,408
172,861
52,247
1,643,516
Transfer between stages:
from Stage 1 to Stage 2
(191,896)
191,896
-
-
(66,885)
66,885
-
-
from Stage 1 to Stage 3
(17,243)
-
17,243
-
(3,081)
-
3,081
-
from Stage 2 to Stage 1
16,548
(16,548)
-
-
33,656
(33,656)
-
-
from Stage 2 to Stage 3
-
(34,366)
34,366
-
-
(10,727)
10,727
-
from Stage 3 to Stage 1
187
-
(187)
-
131
-
(131)
-
from Stage 3 to Stage 2
-
315
(315)
-
-
165
(165)
-
New loans originated or loan amounts increased
979,563
72,510
9,838
1,061,911
809,697
28,892
1,206
839,795
Loans derecognized during the period (other than write-offs)
(798,559)
(94,853)
(41,989)
(935,401)
(431,071)
(59,465)
(18,775)
(509,311)
Loans written-off during the period and other movements
(5)
(4)
(2,388)
(2,397)
6
-
(2,182)
(2,176)
Gross carrying amount as at 31 December
1,749,456
283,905
62,576
2,095,937
1,760,861
164,955
46,008
1,971,824
Bank gross loans to business customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,760,858
164,955
46,008
1,971,821
1,418,408
172,861
52,247
1,643,516
Transfer between stages:
from Stage 1 to Stage 2
(191,896)
191,896
-
-
(66,885)
66,885
-
-
from Stage 1 to Stage 3
(17,243)
-
17,243
-
(3,081)
-
3,081
-
from Stage 2 to Stage 1
16,548
(16,548)
-
-
33,656
(33,656)
-
-
from Stage 2 to Stage 3
-
(34,366)
34,366
-
-
(10,727)
10,727
-
from Stage 3 to Stage 1
187
-
(187)
-
131
-
(131)
-
from Stage 3 to Stage 2
-
315
(315)
-
-
165
(165)
-
New loans originated or loan amounts increased
979,563
72,510
9,838
1,061,911
809,696
28,892
1,206
839,794
Loans derecognized during the period (other than write-offs)
(798,559)
(94,853)
(41,989)
(935,401)
(431,071)
(59,465)
(18,775)
(509,311)
Loans written-off during the period and other movements
(5)
(4)
(2,388)
(2,397)
4
-
(2,182)
(2,178)
Gross carrying amount as at 31 December
1,749,453
283,905
62,576
2,095,934
1,760,858
164,955
46,008
1,971,821
Movements in allowance for loan impairment
Group loss allowance against loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
30,311
6,051
20,051
56,413
24,204
7,357
18,765
50,326
Movements with impact to profit or loss:
New loans originated
13,837
888
171
14,896
18,279
1,476
627
20,382
Loans derecognized during the period (other than write-offs)
(2,768)
(1,343)
(7,240)
(11,351)
(3,211)
(1,476)
(8,416)
(13,103)
Changes due to change in credit risk (net)
(9,890)
5,376
13,283
8,769
(10,133)
(1,020)
11,530
377
Update in the macro scenarios and parameters
(8,124)
1,588
671
(5,865)
260
(45)
629
844
Update in the methodology for loss allowance estimation
(2,356)
460
195
(1,701)
923
(160)
2,231
2,994
Total movements with impact to profit or loss:
(9,301)
6,969
7,080
4,748
6,118
(1,225)
6,601
11,494
Movements without impact to profit or loss:
Loans written-off during the period
(1)
(14)
(5,887)
(5,902)
(4)
(78)
(5,315)
(5,397)
FX and other movements
-
-
-
-
(7)
(3)
-
(10)
Total movements without impact to profit or loss:
(1)
(14)
(5,887)
(5,902)
(11)
(81)
(5,315)
(5,407)
Loss allowance as at 31 December
21,009
13,006
21,244
55,259
30,311
6,051
20,051
56,413
NOTE 12 LOANS TO CUSTOMERS (CONTINUED)
Bank loss allowance against loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
23,352
1,514
15,388
40,254
18,896
3,351
15,282
37,529
Movements with impact to profit or loss:
New loans originated
10,503
241
78
10,822
14,471
113
497
15,081
Loans derecognized during the period (other than write-
offs)
(1,863)
(427)
(4,520)
(6,810)
(2,495)
(418)
(6,166)
(9,079)
Changes due to change in credit risk (net)
(7,725)
5,113
7,675
5,063
(7,892)
(896)
5,320
(3,468)
Update in the macro scenarios and parameters
(5,834)
1,923
656
(3,255)
83
(139)
622
566
Update in the methodology for loss allowance estimation
(1,692)
558
190
(944)
296
(494)
2,205
2,007
Total movements with impact to profit or loss:
(6,611)
7,408
4,079
4,876
4,463
(1,834)
2,478
5,107
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,452)
(2,452)
-
-
(2,372)
(2,372)
FX and other movements
-
-
-
-
(7)
(3)
-
(10)
Total movements without impact to profit or loss:
-
-
(2,452)
(2,452)
(7)
(3)
(2,372)
(2,382)
Loss allowance as at 31 December
16,741
8,922
17,015
42,678
23,352
1,514
15,388
40,254
During the year ended on 31 December 2025, key methodological updates included revisions to private individuals and Artea Lizingas rating grading systems, adjustments to the ECL calculation methodology for renovation loans, and the implementation of OSI and Audit recommendations, including related overlays.
Group loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Bank loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Group loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
10,965
4,729
8,573
24,267
9,301
4,265
6,719
20,285
Movements with impact to profit or loss:
New loans originated
4,501
817
120
5,438
4,449
1,396
173
6,018
Loans derecognized during the period (other than write-offs)
(1,030)
(1,102)
(3,531)
(5,663)
(789)
(1,077)
(2,765)
(4,631)
Changes due to change in credit risk (net)
(1,751)
2,164
7,707
8,120
(3,134)
(152)
6,301
3,015
Update in the methodology for loss allowance estimation
(5,084)
1,644
257
(3,183)
1,145
377
1,278
2,800
Total movements with impact to profit or loss:
(3,364)
3,523
4,553
4,712
1,671
544
4,987
7,202
Movements without impact to profit or loss:
Loans written-off during the period
(1)
(14)
(3,499)
(3,514)
(4)
(78)
(3,133)
(3,215)
FX and other movements
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
(1)
(14)
(3,499)
(3,514)
(7)
(80)
(3,133)
(3,220)
Loss allowance as at 31 December
7,600
8,238
9,627
25,465
10,965
4,729
8,573
24,267
NOTE 12
LOANS TO CUSTOMERS (CONTINUED)
Bank loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
4,006
192
3,910
8,108
3,993
259
3,236
7,488
Movements with impact to profit or loss:
New loans originated
1,167
170
27
1,364
641
33
43
717
Loans derecognized during the period (other than write-offs)
(125)
(186)
(811)
(1,122)
(73)
(19)
(515)
(607)
Changes due to change in credit risk (net)
414
1,901
2,099
4,414
(893)
(28)
91
(830)
Update in the methodology for loss allowance estimation
(2,130)
2,077
237
184
341
(51)
1,245
1,535
Total movements with impact to profit or loss:
(674)
3,962
1,552
4,840
16
(65)
864
815
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(64)
(64)
-
-
(190)
(190)
FX and other movements
-
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
-
-
(64)
(64)
(3)
(2)
(190)
(195)
Loss allowance as at 31 December
3,332
4,154
5,398
12,884
4,006
192
3,910
8,108
Group loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,335
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,601
(1,769)
1,614
4,446
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,318
1,322
11,478
32,118
Bank loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,336
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,602
(1,769)
1,614
4,447
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,319
1,322
11,478
32,119
NOTE 12
LOANS TO CUSTOMERS (CONTINUED)
Finance lease receivables
As part of its lending services, the Bank offers its customers various types of finance
lease contracts. Main finance lease model of the Bank is to finance goods or services
sold by vendors to the customers. The Bank acts as a lender, although legally it is the
owner of the assets leased.
No other material income except for the finance income (included in net interest
income - see Note 1) is earned by the Bank from the finance lease. The Bank does
not provide any buy-back guarantees or residual value guarantees at its own risk.
In some cases when such guarantees are offered to customers that use Bank\u2018s finance
lease products, the vendor of the assets leased provides such guarantees. In such
cases the Bank additionally assesses the vendor\u2018s capacities to meet such obligations.
Risk profile of finance lease contracts is described in detail in part 1.5 of the Financial
Risk Management disclosure.
Group
Up to 1 year
1-2 years
2-3 years
3-4 years
4-5 years
Over 5 years
Total
Gross investments in leasing:
Balance at 31 December 2024
122,157
96,057
69,399
45,737
22,444
4,442
360,236
Change during 2025
13,047
(590)
4,214
2,942
3,968
2,183
25,764
Balance at 31 December 2025
135,204
95,467
73,613
48,679
26,412
6,625
386,000
Unearned finance income on finance leases:
Balance at 31 December 2024
(16,579)
(10,482)
(5,895)
(2,775)
(735)
(186)
(36,652)
Change during 2025
2,048
1,287
467
260
(58)
(41)
3,963
Balance at 31 December 2025
(14,531)
(9,195)
(5,428)
(2,515)
(793)
(227)
(32,689)
-
-
-
-
-
-
-
Net investments in leasing before provisions:
-
-
-
-
-
-
-
At 31 December 2024
105,578
85,575
63,504
42,962
21,709
4,256
323,584
At 31 December 2025
120,673
86,272
68,185
46,164
25,619
6,398
353,311
Changes in provisions:
Balance at 31 December 2024
(1,996)
(1,566)
(1,162)
(781)
(395)
(787)
(6,687)
Provisions reversed / (additional provisions
(22)
218
97
64
(3)
432
786
charged)
Provisions for finance lease debts written off
-
-
-
-
-
-
-
Balance at 31 December 2025
(2,018)
(1,348)
(1,065)
(717)
(398)
(355)
(5,901)
Net investments in leasing after provisions:
At 31 December 2024
103,582
84,009
62,342
42,181
21,314
3,469
316,897
At 31 December 2025
118,655
84,924
67,120
45,447
25,221
6,043
347,410
Bank
Up to 1 year
1-2 years
2-3 years
3-4 years
4-5 years
Over 5 years
Total
Gross investments in leasing:
Balance at 31 December 2024
122,157
96,057
69,399
45,737
22,444
4,442
360,236
Change during 2025
13,047
(590)
4,214
2,942
3,968
2,183
25,764
Balance at 31 December 2025
135,204
95,467
73,613
48,679
26,412
6,625
386,000
Unearned finance income on finance leases:
Balance at 31 December 2024
(16,579)
(10,482)
(5,895)
(2,775)
(735)
(186)
(36,652)
Change during 2025
2,048
1,287
467
260
(58)
(41)
3,963
Balance at 31 December 2025
(14,531)
(9,195)
(5,428)
(2,515)
(793)
(227)
(32,689)
Net investments in leasing before provisions:
At 31 December 2024
105,578
85,575
63,504
42,962
21,709
4,256
323,584
At 31 December 2025
120,673
86,272
68,185
46,164
25,619
6,398
353,311
Changes in provisions:
Balance at 31 December 2024
(1,996)
(1,566)
(1,162)
(781)
(395)
(787)
(6,687)
Provisions reversed / (additional provisions
(22)
218
97
64
(3)
432
786
charged)
Provisions for finance lease debts written off
-
-
-
-
-
-
-
Balance at 31 December 2025
(2,018)
(1,348)
(1,065)
(717)
(398)
(355)
(5,901)
Net investments in leasing after provisions:
At 31 December 2024
103,582
84,009
62,342
42,181
21,314
3,469
316,897
At 31 December 2025
118,655
84,924
67,120
45,447
25,221
6,043
347,410
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-15": { "value": "NOTE 12 LOANS TO CUSTOMERS Due to the macroeconomic situation, the Group maintained a cautious approach to lending in 2024 \u2013 the Group\u2019s loan portfolio grew by 17% in 2024, primarily driven by strong demand for retail loans, particularly housing and consumer loans. In 2025, the Group\u2019s loan portfolio increased by 8%. The Bank has provided loans as investment to securitization vehicle through Banks\u2019s subsidiaries Pakeitimo vertybiniais popieriais Artea Retrofit Fund 1, UAB and Pakeitimo vertybiniais popieriais Artea Retrofit Fund 2, UAB for financing multiapartment buildings renovation projects. Bank\u2019s investments in securitization are provided in several tranches to different investment layers bearing different risk levels. The Bank\u2019s investments in the first-loss tranche of these unconsolidated subsidiaries are measured at fair value and amounted to EUR 6,203 thousand as of 31 December 2025 (31 December 2024: EUR 6,137 thousand). Reconciliation of the gross loan amount is presented in the following tables.
2025
2024
Group
Bank
Group
Bank
Gross loans to customers
3,762,780
3,728,430
3,484,872
3,456,021
Allowance for loan impairment
(55,259)
(42,678)
(56,412)
(40,254)
Net loans at amortized cost
3,707,521
3,685,752
3,428,460
3,415,767
Loans at fair value
6,203
6,203
6,137
6,137
Net loans to customers
3,713,724
3,691,955
3,434,597
3,421,904
Breakdown of loans to customers according to maturity
Short-term (up to 1 year)
726,647
920,820
637,032
829,552
Long-term (over 1 year)
2,987,077
2,771,135
2,797,565
2,592,352
Total
3,713,724
3,691,955
3,434,597
3,421,904
Group gross loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
3,186,836
225,786
78,388
3,491,010
2,677,647
219,746
84,490
2,981,883
Transfer between stages
(263,419)
197,222
66,197
-
(57,502)
39,165
18,337
-
New loans originated or loan amounts increased
1,478,512
389,918
17,784
1,886,214
1,266,858
40,320
5,907
1,313,085
Loans derecognized during the period (other than write-offs)
(1,147,023)
(403,920)
(51,388)
(1,602,331)
(700,169)
(73,364)
(25,031)
(798,564)
Loans written-off during the period and other movements
(3)
(20)
(5,887)
(5,910)
2
(81)
(5,315)
(5,394)
Gross carrying amount as at 31 December
3,254,903
408,986
105,094
3,768,983
3,186,836
225,786
78,388
3,491,010
Bank gross loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
2,897,520
496,347
68,292
3,462,159
2,433,386
447,163
76,914
2,957,463
Transfer between stages
(255,431)
193,384
62,047
-
(52,057)
38,669
13,388
-
New loans originated or loan amounts increased
1,335,465
394,335
16,863
1,746,663
1,116,357
75,451
3,485
1,195,293
Loans derecognized during the period (other than write-offs)
(1,027,594)
(395,340)
(48,795)
(1,471,729)
(600,170)
(64,938)
(23,123)
(688,231)
Loans written-off during the period and other movements
(2)
(5)
(2,453)
(2,460)
4
2
(2,372)
(2,366)
Gross carrying amount as at 31 December
2,949,958
688,721
95,954
3,734,633
2,897,520
496,347
68,292
3,462,159
Group gross loans to financial institutions
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
20,314
(1)
-
20,313
26,596
-
-
26,596
Transfer between stages:
from Stage 1 to Stage 2
-
-
-
-
-
-
-
-
from Stage 1 to Stage 3
-
-
-
-
-
-
-
-
from Stage 2 to Stage 1
-
-
-
-
-
-
-
-
from Stage 2 to Stage 3
-
-
-
-
-
-
-
-
from Stage 3 to Stage 1
-
-
-
-
-
-
-
-
from Stage 3 to Stage 2
-
-
-
-
-
-
-
-
New loans originated or loan amounts increased
23,547
290,285
1
313,833
20,314
(1)
-
20,313
Loans derecognized during the period (other than write-offs)
(20,314)
(290,284)
-
(310,598)
(26,596)
-
-
(26,596)
Loans written-off during the period and other movements
-
-
-
-
-
-
-
-
Gross carrying amount as at 31 December
23,547
-
1
23,548
20,314
(1)
-
20,313
Bank gross loans to financial institutions
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
20,314
290,817
-
311,131
26,596
247,553
-
274,149
Transfer between stages:
from Stage 1 to Stage 2
-
-
-
-
-
-
-
-
from Stage 1 to Stage 3
-
-
-
-
-
-
-
-
from Stage 2 to Stage 1
-
-
-
-
-
-
-
-
from Stage 2 to Stage 3
-
-
-
-
-
-
-
-
from Stage 3 to Stage 1
-
-
-
-
-
-
-
-
from Stage 3 to Stage 2
-
-
-
-
-
-
-
-
New loans originated or loan amounts increased
23,547
300,773
1
324,321
20,314
43,264
-
63,578
Loans derecognized during the period (other than write-offs)
(20,314)
(290,817)
-
(311,131)
(26,596)
-
-
(26,596)
Loans written-off during the period and other movements
-
-
-
-
-
-
-
-
Gross carrying amount as at 31 December
23,547
300,773
1
324,321
20,314
290,817
-
311,131
NOTE 12 LOANS TO CUSTOMERS (CONTINUED)
Group gross loans to individuals (retail)
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,405,661
60,832
32,380
1,498,873
1,232,643
46,885
32,243
1,311,771
Transfer between stages:
from Stage 1 to Stage 2
(81,871)
81,871
-
-
(34,816)
34,816
-
-
from Stage 1 to Stage 3
(12,623)
-
12,623
-
(11,280)
-
11,280
-
from Stage 2 to Stage 1
19,362
(19,362)
-
-
16,028
(16,028)
-
-
from Stage 2 to Stage 3
-
(9,886)
9,886
-
-
(5,569)
5,569
-
from Stage 3 to Stage 1
4,117
-
(4,117)
-
8,745
-
(8,745)
-
from Stage 3 to Stage 2
-
3,302
(3,302)
-
-
3,279
(3,279)
-
New loans originated or loan amounts increased
475,402
27,123
7,945
510,470
436,847
11,429
4,701
452,977
Loans derecognized during the period (other than write-offs)
(328,150)
(18,783)
(9,399)
(356,332)
(242,502)
(13,899)
(6,256)
(262,657)
Loans written-off during the period and other movements
2
(16)
(3,499)
(3,513)
(4)
(81)
(3,133)
(3,218)
Gross carrying amount as at 31 December
1,481,900
125,081
42,517
1,649,498
1,405,661
60,832
32,380
1,498,873
Bank gross loans to individuals (retail)
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,116,348
40,575
22,284
1,179,207
988,382
26,749
24,667
1,039,798
Transfer between stages:
from Stage 1 to Stage 2
(70,868)
70,868
-
-
(25,720)
25,720
-
-
from Stage 1 to Stage 3
(9,193)
-
9,193
-
(7,263)
-
7,263
-
from Stage 2 to Stage 1
14,101
(14,101)
-
-
9,498
(9,498)
-
-
from Stage 2 to Stage 3
-
(6,858)
6,858
-
-
(2,630)
2,630
-
from Stage 3 to Stage 1
2,933
-
(2,933)
-
7,607
-
(7,607)
-
from Stage 3 to Stage 2
-
2,178
(2,178)
-
-
2,410
(2,410)
-
New loans originated or loan amounts increased
332,355
21,052
7,024
360,431
286,347
3,295
2,279
291,921
Loans derecognized during the period (other than write-offs)
(208,721)
(9,670)
(6,806)
(225,197)
(142,503)
(5,473)
(4,348)
(152,324)
Loans written-off during the period and other movements
3
(1)
(65)
(63)
-
2
(190)
(188)
Gross carrying amount as at 31 December
1,176,958
104,043
33,377
1,314,378
1,116,348
40,575
22,284
1,179,207
Group gross loans to business customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,760,861
164,955
46,008
1,971,824
1,418,408
172,861
52,247
1,643,516
Transfer between stages:
from Stage 1 to Stage 2
(191,896)
191,896
-
-
(66,885)
66,885
-
-
from Stage 1 to Stage 3
(17,243)
-
17,243
-
(3,081)
-
3,081
-
from Stage 2 to Stage 1
16,548
(16,548)
-
-
33,656
(33,656)
-
-
from Stage 2 to Stage 3
-
(34,366)
34,366
-
-
(10,727)
10,727
-
from Stage 3 to Stage 1
187
-
(187)
-
131
-
(131)
-
from Stage 3 to Stage 2
-
315
(315)
-
-
165
(165)
-
New loans originated or loan amounts increased
979,563
72,510
9,838
1,061,911
809,697
28,892
1,206
839,795
Loans derecognized during the period (other than write-offs)
(798,559)
(94,853)
(41,989)
(935,401)
(431,071)
(59,465)
(18,775)
(509,311)
Loans written-off during the period and other movements
(5)
(4)
(2,388)
(2,397)
6
-
(2,182)
(2,176)
Gross carrying amount as at 31 December
1,749,456
283,905
62,576
2,095,937
1,760,861
164,955
46,008
1,971,824
Bank gross loans to business customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Gross carrying amount as at 1 January
1,760,858
164,955
46,008
1,971,821
1,418,408
172,861
52,247
1,643,516
Transfer between stages:
from Stage 1 to Stage 2
(191,896)
191,896
-
-
(66,885)
66,885
-
-
from Stage 1 to Stage 3
(17,243)
-
17,243
-
(3,081)
-
3,081
-
from Stage 2 to Stage 1
16,548
(16,548)
-
-
33,656
(33,656)
-
-
from Stage 2 to Stage 3
-
(34,366)
34,366
-
-
(10,727)
10,727
-
from Stage 3 to Stage 1
187
-
(187)
-
131
-
(131)
-
from Stage 3 to Stage 2
-
315
(315)
-
-
165
(165)
-
New loans originated or loan amounts increased
979,563
72,510
9,838
1,061,911
809,696
28,892
1,206
839,794
Loans derecognized during the period (other than write-offs)
(798,559)
(94,853)
(41,989)
(935,401)
(431,071)
(59,465)
(18,775)
(509,311)
Loans written-off during the period and other movements
(5)
(4)
(2,388)
(2,397)
4
-
(2,182)
(2,178)
Gross carrying amount as at 31 December
1,749,453
283,905
62,576
2,095,934
1,760,858
164,955
46,008
1,971,821
Movements in allowance for loan impairment
Group loss allowance against loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
30,311
6,051
20,051
56,413
24,204
7,357
18,765
50,326
Movements with impact to profit or loss:
New loans originated
13,837
888
171
14,896
18,279
1,476
627
20,382
Loans derecognized during the period (other than write-offs)
(2,768)
(1,343)
(7,240)
(11,351)
(3,211)
(1,476)
(8,416)
(13,103)
Changes due to change in credit risk (net)
(9,890)
5,376
13,283
8,769
(10,133)
(1,020)
11,530
377
Update in the macro scenarios and parameters
(8,124)
1,588
671
(5,865)
260
(45)
629
844
Update in the methodology for loss allowance estimation
(2,356)
460
195
(1,701)
923
(160)
2,231
2,994
Total movements with impact to profit or loss:
(9,301)
6,969
7,080
4,748
6,118
(1,225)
6,601
11,494
Movements without impact to profit or loss:
Loans written-off during the period
(1)
(14)
(5,887)
(5,902)
(4)
(78)
(5,315)
(5,397)
FX and other movements
-
-
-
-
(7)
(3)
-
(10)
Total movements without impact to profit or loss:
(1)
(14)
(5,887)
(5,902)
(11)
(81)
(5,315)
(5,407)
Loss allowance as at 31 December
21,009
13,006
21,244
55,259
30,311
6,051
20,051
56,413
NOTE 12 LOANS TO CUSTOMERS (CONTINUED)
Bank loss allowance against loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
23,352
1,514
15,388
40,254
18,896
3,351
15,282
37,529
Movements with impact to profit or loss:
New loans originated
10,503
241
78
10,822
14,471
113
497
15,081
Loans derecognized during the period (other than write-
offs)
(1,863)
(427)
(4,520)
(6,810)
(2,495)
(418)
(6,166)
(9,079)
Changes due to change in credit risk (net)
(7,725)
5,113
7,675
5,063
(7,892)
(896)
5,320
(3,468)
Update in the macro scenarios and parameters
(5,834)
1,923
656
(3,255)
83
(139)
622
566
Update in the methodology for loss allowance estimation
(1,692)
558
190
(944)
296
(494)
2,205
2,007
Total movements with impact to profit or loss:
(6,611)
7,408
4,079
4,876
4,463
(1,834)
2,478
5,107
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,452)
(2,452)
-
-
(2,372)
(2,372)
FX and other movements
-
-
-
-
(7)
(3)
-
(10)
Total movements without impact to profit or loss:
-
-
(2,452)
(2,452)
(7)
(3)
(2,372)
(2,382)
Loss allowance as at 31 December
16,741
8,922
17,015
42,678
23,352
1,514
15,388
40,254
During the year ended on 31 December 2025, key methodological updates included revisions to private individuals and Artea Lizingas rating grading systems, adjustments to the ECL calculation methodology for renovation loans, and the implementation of OSI and Audit recommendations, including related overlays.
Group loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Bank loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Group loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
10,965
4,729
8,573
24,267
9,301
4,265
6,719
20,285
Movements with impact to profit or loss:
New loans originated
4,501
817
120
5,438
4,449
1,396
173
6,018
Loans derecognized during the period (other than write-offs)
(1,030)
(1,102)
(3,531)
(5,663)
(789)
(1,077)
(2,765)
(4,631)
Changes due to change in credit risk (net)
(1,751)
2,164
7,707
8,120
(3,134)
(152)
6,301
3,015
Update in the methodology for loss allowance estimation
(5,084)
1,644
257
(3,183)
1,145
377
1,278
2,800
Total movements with impact to profit or loss:
(3,364)
3,523
4,553
4,712
1,671
544
4,987
7,202
Movements without impact to profit or loss:
Loans written-off during the period
(1)
(14)
(3,499)
(3,514)
(4)
(78)
(3,133)
(3,215)
FX and other movements
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
(1)
(14)
(3,499)
(3,514)
(7)
(80)
(3,133)
(3,220)
Loss allowance as at 31 December
7,600
8,238
9,627
25,465
10,965
4,729
8,573
24,267
NOTE 12 LOANS TO CUSTOMERS (CONTINUED)
Bank loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
4,006
192
3,910
8,108
3,993
259
3,236
7,488
Movements with impact to profit or loss:
New loans originated
1,167
170
27
1,364
641
33
43
717
Loans derecognized during the period (other than write-offs)
(125)
(186)
(811)
(1,122)
(73)
(19)
(515)
(607)
Changes due to change in credit risk (net)
414
1,901
2,099
4,414
(893)
(28)
91
(830)
Update in the methodology for loss allowance estimation
(2,130)
2,077
237
184
341
(51)
1,245
1,535
Total movements with impact to profit or loss:
(674)
3,962
1,552
4,840
16
(65)
864
815
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(64)
(64)
-
-
(190)
(190)
FX and other movements
-
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
-
-
(64)
(64)
(3)
(2)
(190)
(195)
Loss allowance as at 31 December
3,332
4,154
5,398
12,884
4,006
192
3,910
8,108
Group loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,335
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,601
(1,769)
1,614
4,446
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,318
1,322
11,478
32,118
Bank loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,336
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,602
(1,769)
1,614
4,447
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,319
1,322
11,478
32,119
NOTE 12 LOANS TO CUSTOMERS (CONTINUED) Finance lease receivables As part of its lending services, the Bank offers its customers various types of finance lease contracts. Main finance lease model of the Bank is to finance goods or services sold by vendors to the customers. The Bank acts as a lender, although legally it is the owner of the assets leased. No other material income except for the finance income (included in net interest income - see Note 1) is earned by the Bank from the finance lease. The Bank does not provide any buy-back guarantees or residual value guarantees at its own risk. In some cases when such guarantees are offered to customers that use Bank\u2018s finance lease products, the vendor of the assets leased provides such guarantees. In such cases the Bank additionally assesses the vendor\u2018s capacities to meet such obligations. Risk profile of finance lease contracts is described in detail in part 1.5 of the Financial Risk Management disclosure.
Group
Up to 1 year
1-2 years
2-3 years
3-4 years
4-5 years
Over 5 years
Total
Gross investments in leasing:
Balance at 31 December 2024
122,157
96,057
69,399
45,737
22,444
4,442
360,236
Change during 2025
13,047
(590)
4,214
2,942
3,968
2,183
25,764
Balance at 31 December 2025
135,204
95,467
73,613
48,679
26,412
6,625
386,000
Unearned finance income on finance leases:
Balance at 31 December 2024
(16,579)
(10,482)
(5,895)
(2,775)
(735)
(186)
(36,652)
Change during 2025
2,048
1,287
467
260
(58)
(41)
3,963
Balance at 31 December 2025
(14,531)
(9,195)
(5,428)
(2,515)
(793)
(227)
(32,689)
-
-
-
-
-
-
-
Net investments in leasing before provisions:
-
-
-
-
-
-
-
At 31 December 2024
105,578
85,575
63,504
42,962
21,709
4,256
323,584
At 31 December 2025
120,673
86,272
68,185
46,164
25,619
6,398
353,311
Changes in provisions:
Balance at 31 December 2024
(1,996)
(1,566)
(1,162)
(781)
(395)
(787)
(6,687)
Provisions reversed / (additional provisions
(22)
218
97
64
(3)
432
786
charged)
Provisions for finance lease debts written off
-
-
-
-
-
-
-
Balance at 31 December 2025
(2,018)
(1,348)
(1,065)
(717)
(398)
(355)
(5,901)
Net investments in leasing after provisions:
At 31 December 2024
103,582
84,009
62,342
42,181
21,314
3,469
316,897
At 31 December 2025
118,655
84,924
67,120
45,447
25,221
6,043
347,410
Bank
Up to 1 year
1-2 years
2-3 years
3-4 years
4-5 years
Over 5 years
Total
Gross investments in leasing:
Balance at 31 December 2024
122,157
96,057
69,399
45,737
22,444
4,442
360,236
Change during 2025
13,047
(590)
4,214
2,942
3,968
2,183
25,764
Balance at 31 December 2025
135,204
95,467
73,613
48,679
26,412
6,625
386,000
Unearned finance income on finance leases:
Balance at 31 December 2024
(16,579)
(10,482)
(5,895)
(2,775)
(735)
(186)
(36,652)
Change during 2025
2,048
1,287
467
260
(58)
(41)
3,963
Balance at 31 December 2025
(14,531)
(9,195)
(5,428)
(2,515)
(793)
(227)
(32,689)
Net investments in leasing before provisions:
At 31 December 2024
105,578
85,575
63,504
42,962
21,709
4,256
323,584
At 31 December 2025
120,673
86,272
68,185
46,164
25,619
6,398
353,311
Changes in provisions:
Balance at 31 December 2024
(1,996)
(1,566)
(1,162)
(781)
(395)
(787)
(6,687)
Provisions reversed / (additional provisions
(22)
218
97
64
(3)
432
786
charged)
Provisions for finance lease debts written off
-
-
-
-
-
-
-
Balance at 31 December 2025
(2,018)
(1,348)
(1,065)
(717)
(398)
(355)
(5,901)
Net investments in leasing after provisions:
At 31 December 2024
103,582
84,009
62,342
42,181
21,314
3,469
316,897
At 31 December 2025
118,655
84,924
67,120
45,447
25,221
6,043
347,410
", "dimensions": { "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-531": { "value": "
Bank loss allowance against loans to customers
2025
2024
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
23,352
1,514
15,388
40,254
18,896
3,351
15,282
37,529
Movements with impact to profit or loss:
New loans originated
10,503
241
78
10,822
14,471
113
497
15,081
Loans derecognized during the period (other than write-
offs)
(1,863)
(427)
(4,520)
(6,810)
(2,495)
(418)
(6,166)
(9,079)
Changes due to change in credit risk (net)
(7,725)
5,113
7,675
5,063
(7,892)
(896)
5,320
(3,468)
Update in the macro scenarios and parameters
(5,834)
1,923
656
(3,255)
83
(139)
622
566
Update in the methodology for loss allowance estimation
(1,692)
558
190
(944)
296
(494)
2,205
2,007
Total movements with impact to profit or loss:
(6,611)
7,408
4,079
4,876
4,463
(1,834)
2,478
5,107
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,452)
(2,452)
-
-
(2,372)
(2,372)
FX and other movements
-
-
-
-
(7)
(3)
-
(10)
Total movements without impact to profit or loss:
-
-
(2,452)
(2,452)
(7)
(3)
(2,372)
(2,382)
Loss allowance as at 31 December
16,741
8,922
17,015
42,678
23,352
1,514
15,388
40,254
During the year ended on 31 December 2025, key methodological updates included revisions to private individuals and Artea Lizingas rating grading systems, adjustments to
the ECL calculation methodology for renovation loans, and the implementation of OSI and Audit recommendations, including related overlays.
Group loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Bank loss allowance against loans to customers: Loans to
2025
2024
financial institutions
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
27
-
-
27
183
-
-
183
Movements with impact to profit or loss:
New loans originated
298
-
1
299
28
-
-
28
Loans derecognized during the period (other than write-offs)
(254)
-
-
(254)
(154)
-
-
(154)
Changes due to change in credit risk (net)
170
-
-
170
11
-
-
11
Update in the methodology for loss allowance estimation
(169)
-
-
(169)
(40)
-
-
(40)
Total movements with impact to profit or loss:
45
-
1
46
(155)
-
-
(155)
Movements without impact to profit or loss:
Loans written-off during the period
-
-
-
-
-
-
-
-
FX and other movements
-
-
-
-
(1)
-
-
(1)
Total movements without impact to profit or loss:
-
-
-
-
(1)
-
-
(1)
Loss allowance as at 31 December
72
-
1
73
27
-
-
27
Group loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
10,965
4,729
8,573
24,267
9,301
4,265
6,719
20,285
Movements with impact to profit or loss:
New loans originated
4,501
817
120
5,438
4,449
1,396
173
6,018
Loans derecognized during the period (other than write-offs)
(1,030)
(1,102)
(3,531)
(5,663)
(789)
(1,077)
(2,765)
(4,631)
Changes due to change in credit risk (net)
(1,751)
2,164
7,707
8,120
(3,134)
(152)
6,301
3,015
Update in the methodology for loss allowance estimation
(5,084)
1,644
257
(3,183)
1,145
377
1,278
2,800
Total movements with impact to profit or loss:
(3,364)
3,523
4,553
4,712
1,671
544
4,987
7,202
Movements without impact to profit or loss:
Loans written-off during the period
(1)
(14)
(3,499)
(3,514)
(4)
(78)
(3,133)
(3,215)
FX and other movements
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
(1)
(14)
(3,499)
(3,514)
(7)
(80)
(3,133)
(3,220)
Loss allowance as at 31 December
7,600
8,238
9,627
25,465
10,965
4,729
8,573
24,267
NOTE 12 LOANS TO CUSTOMERS (CONTINUED)
Bank loss allowance against loans to customers: Loans to
2025
2024
individuals (Retail)
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
4,006
192
3,910
8,108
3,993
259
3,236
7,488
Movements with impact to profit or loss:
New loans originated
1,167
170
27
1,364
641
33
43
717
Loans derecognized during the period (other than write-offs)
(125)
(186)
(811)
(1,122)
(73)
(19)
(515)
(607)
Changes due to change in credit risk (net)
414
1,901
2,099
4,414
(893)
(28)
91
(830)
Update in the methodology for loss allowance estimation
(2,130)
2,077
237
184
341
(51)
1,245
1,535
Total movements with impact to profit or loss:
(674)
3,962
1,552
4,840
16
(65)
864
815
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(64)
(64)
-
-
(190)
(190)
FX and other movements
-
-
-
-
(3)
(2)
-
(5)
Total movements without impact to profit or loss:
-
-
(64)
(64)
(3)
(2)
(190)
(195)
Loss allowance as at 31 December
3,332
4,154
5,398
12,884
4,006
192
3,910
8,108
Group loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,335
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,601
(1,769)
1,614
4,446
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,318
1,322
11,478
32,118
Bank loss allowance against loans to customers: Loans to
2025
2024
business customers
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Loss allowance as at 1 January
19,319
1,322
11,478
32,119
14,720
3,092
12,046
29,858
Movements with impact to profit or loss:
New loans originated
9,038
71
50
9,159
13,802
80
454
14,336
Loans derecognized during the period (other than write-offs)
(1,484)
(241)
(3,709)
(5,434)
(2,268)
(399)
(5,651)
(8,318)
Changes due to change in credit risk (net)
(8,309)
3,212
5,576
479
(7,010)
(868)
5,229
(2,649)
Update in the methodology for loss allowance estimation
(5,227)
404
609
(4,214)
78
(582)
1,582
1,078
Total movements with impact to profit or loss:
(5,982)
3,446
2,526
(10)
4,602
(1,769)
1,614
4,447
Movements without impact to profit or loss:
Loans written-off during the period
-
-
(2,388)
(2,388)
-
-
(2,182)
(2,182)
FX and other movements
-
-
-
-
(3)
(1)
-
(4)
Total movements without impact to profit or loss:
-
-
(2,388)
(2,388)
(3)
(1)
(2,182)
(2,186)
Loss allowance as at 31 December
13,337
4,768
11,616
29,721
19,319
1,322
11,478
32,119
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-16": { "value": "NOTE 13 INVESTMENT SECURITIES Investment securities are comprised of: \u2022 non-trading equities. The Group chose to measure these securities at fair value through profit or loss; \u2022 Investments in units of funds; \u2022 Investments in alternative fund units; \u2022 debt securities at fair value through other comprehensive income; \u2022 debt securities at amortized cost (held to collect cash flows).
2025
2024
Group
Bank
Group
Bank
Debt securities at fair value through other comprehensive income, gross
305,035
252,501
41,047
41,047
Less: allowance for impairment
(40)
(40)
(53)
(53)
Debt securities at fair value through other comprehensive income:
304,995
252,461
40,994
40,994
Government bonds
276,652
243,914
24,327
24,327
Corporate bonds
28,343
8,547
16,667
16,667
Non-trading equity securities at fair value through profit or loss
199,701
2,513
2,874
2,626
TOTAL INVESTMENT SECURITIES AT FAIR VALUE
504,696
254,974
43,868
43,620
Debt Securities at amortised costs, Gross:
1,357,932
1,348,559
727,986
716,883
Less: allowance for impairment
(1,080)
(53)
(1,049)
(19)
Debt securities:
1,356,852
1,348,506
726,937
716,864
Government bonds
1,343,750
1,338,911
695,622
690,083
Corporate bonds
13,102
9,595
31,315
26,781
TOTAL INVESTMENT SECURITIES AT AMORTIZED COST
1,356,852
1,348,506
726,937
716,864
Breakdown of debt securities by time remaining to maturity:
Short-term (up to 1 year)
78,207
77,325
11,770
11,770
Long-term (over 1 year)
226,788
175,136
29,224
29,224
Total debt securities at fair value through other comprehensive income
304,995
252,461
40,994
40,994
Short-term (up to 1 year)
264,437
263,509
196,312
195,334
Long-term (over 1 year)
1,092,415
1,084,997
530,625
521,530
Total debt securities at amortized cost
1,356,852
1,348,506
726,937
716,864
These securities are measured at fair value through profit or loss. Taking into account Group\u2019s investment strategy, which does not involve active trading or short-term profit seeking and is instead focused on holding securities to ensure liquidity, part of the securities was reclassified from the \u201csecurities in the trading book\u201d to \u201cinvestment securities\u201d. Both categories of securities continue to be measured at fair value. Reconciliation of allowance for impairment of investment debt securities is presented in the table below:
2025
2024
Group
Bank
Group
Bank
Allowance for impairment of investment debt securities as of 1 January:
1,102
73
1,249
220
Change in allowance for impairment
18
20
(147)
(147)
Update in the methodology for loss allowance estimation
-
-
-
-
Change in FX rates
-
-
-
-
Impact of IFRS 9 application together with IFRS 17
-
-
-
-
Allowance for impairment of investment debt securities as of 31 December:
1,120
93
1,102
73
Breakdown of the Group\u2018s and Bank\u2019s investment securities as at 31 December 2025 and 2024:
2025
2024
Group
Bank
Group
Bank
Investment securities at fair value:
Debt securities
304,995
252,461
40,994
40,994
AAA
1,494
-
-
-
from AA- to AA+
128,348
128,347
-
-
from A- to A+
125,696
100,627
29,517
29,517
from BBB- to BBB+
40,933
22,644
5,854
5,854
from BB- to BB+
6,567
388
4,695
4,695
lower than BB-
343
-
-
-
no rating
1,614
455
928
928
Equities
199,701
2,513
2,874
2,626
listed
188,233
449
246
246
unlisted
9,336
171
540
292
units of investment funds
2,132
1,893
2,088
2,088
Total investment securities at fair value
504,696
254,974
43,868
43,620
Investment securities at amortized cost:
Debt securities
1,356,852
1,348,506
726,937
716,864
AAA
-
-
-
-
from AA- to AA+
541,986
541,783
203
-
from A- to A+
752,436
747,541
699,217
694,562
from BBB- to BBB+
61,924
59,182
26,402
22,302
from BB- to BB+
506
-
1,115
-
lower than BB-
-
-
-
-
no rating
-
-
-
-
Total investment securities at amortized cost
1,356,852
1,348,506
726,937
716,864
NOTE 13 INVESTMENT SECURITIES (CONTINUED) Movements in the financial instruments revaluation reserve:
Financial
The Group
Financial
Financial
The Bank
Financial
instruments
Deferred income
instruments
instruments
Deferred income
instruments
revaluation
tax asset
revaluation
revaluation
tax asset
revaluation
reserve, before
(liabilities)
reserve, after taxes
reserve, before
(liabilities)
reserve, after taxes
taxes
taxes
1 January 2024
(6,783)
1,357
(5,426)
(6,783)
1,357
(5,426)
Revaluation
3,026
-
3,026
3,026
-
3,026
Sale or redemption of securities
20
-
20
20
-
20
Deferred income tax
-
(609)
(609)
-
(609)
(609)
31 December 2024
(3,737)
748
(2,989)
(3,737)
748
(2,989)
Revaluation
970
-
970
970
-
970
Sale or redemption of securities
-
-
-
-
-
-
Deferred income tax
-
(139)
(139)
-
(139)
(139)
31 December 2025
(2,767)
609
(2,158)
(2,767)
609
(2,158)
Bank\u2019s and Group\u2019s cash flows and other movements of investment securities at amortized cost:
2025
2024
Group
Bank
Group
Bank
As at 1 January
726,937
716,864
751,227
739,869
Acquisitions
1,140,422
1,140,422
438,515
316,044
Redemptions
(178,071)
(177,071)
(430,154)
(313,350)
Disposals
(340,004)
(339,339)
(22,591)
(21,781)
Accrued interest
17,777
17,596
14,042
13,820
Received coupon payment
(10,132)
(9,932)
(19,620)
(17,776)
Impairment
(77)
(34)
(22)
38
Reclassifications
-
-
(4,460)
-
As at 31 December
1,356,852
1,348,506
726,937
716,864
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-17": { "value": "NOTE 15 INTANGIBLE ASSETS
Software and licences
Funds management rights
Goodwill
Total
Group
Bank
Group
Bank
Group
Bank
Group
Bank
As at 1 January 2024:
Cost
19,052
17,458
30,598
-
5,642
-
55,292
17,458
Accumulated amortisation
(10,052)
(9,309)
(102)
-
-
-
(10,154)
(9,309)
Net book value
9,000
8,149
30,496
-
5,642
-
45,138
8,149
Year ended 31 December 2024:
Net book value at 1 January
9,000
8,149
30,496
-
5,642
-
45,138
8,149
Acquisitions
4,524
4,032
-
-
-
-
4,524
4,032
Write-offs
(2,167)
(2,163)
-
-
-
-
(2,167)
(2,163)
Amortisation charge
(2,655)
(2,159)
(1,223)
-
-
-
(3,878)
(2,159)
Net book value at 31 December
8,702
7,859
29,273
-
5,642
-
43,617
7,859
As at 31 December 2024:
Cost
21,409
19,327
30,598
-
5,642
-
57,649
19,327
Accumulated amortisation
(12,707)
(11,468)
(1,325)
-
-
-
(14,032)
(11,468)
Net book value
8,702
7,859
29,273
-
5,642
-
43,617
7,859
Year ended 31 December 2025:
Net book value at 1 January
8,702
7,859
29,273
5,642
43,617
7,859
Acquisitions
1,275
753
-
-
1,275
753
Write-offs
(72)
(72)
-
-
(72)
(72)
Amortisation charge
(2,418)
(2,042)
(1,224)
-
(3,642)
(2,042)
Reclassification to deferred tax asset*
-
-
-
(618)
(618)
-
Net book value at 31 December
7,487
6,498
28,049
5,024
40,560
6,498
As at 31 December 2025:
,
,
,
Cost
22,612
20,008
30,598
5,024
58,234
20,008
Accumulated amortisation
(15,125)
(13,510)
(2,549)
-
(17,674)
(13,510)
Net book value
7,487
6,498
28,049
5,024
40,560
6,498
Economic life (in years)
3-9
3-9
25
In 2025, during the assessment of the movement of deferred tax assets, a classification error relating to the prior period was identified. As a result, the presentation of deferred tax assets in the financial statements as of the transaction date was corrected, which also led to an adjustment of goodwill. Following the correction, deferred tax assets increased by EUR 618 thousand, with a corresponding decrease in goodwill of the same amount. This adjustment had no impact on the 2024 statement of profit or loss, statement of cash flows, or statement of changes in equity. The embedded Artea Life Insurance value comprises the value of in-force business and free capital, with cash flows discounted at 9.3% (2025) and 9.40% (2024). A 2% inflation rate was assumed throughout the forecast. Sensitivity analysis using a 2 percentage points higher discount rate also showed no impairment. Goodwill arising from the acquisition of Artea Asset Management UAB and fund management rights are allocated to the Asset Management cash-generating unit (CGU). Goodwill is tested for impairment annually in accordance with IAS 36. Fund management rights are tested for impairment in accordance with their useful life classification. The recoverable amount of the CGU was determined based on value in use, calculated by discounting the future cash flows expected to be generated from the continuing use of the CGU\u2019s assets. The key assumptions applied in determining the recoverable amount, including the expected impact of the Lithuanian Pillar II pension reform and the assumption that approximately 32% of Pillar II pension assets will be withdrawn during 2026\u20132027 (benchmarking to Estonia\u2019s 2021 pension reform), are consistent with those disclosed in Note 14 \u2013 Impairment assessment of investments in subsidiaries paragraph. Cash flows beyond the explicit forecast period were extrapolated using a long-term growth rate of 2%. The projected cash flows were discounted using a pre-tax discount rate of 10.1% (2024: 13%). Based on the impairment test performed, the recoverable amount of the CGU exceeded its carrying amount as at 31 December 2025 and therefore no impairment loss was recognised in respect of goodwill or fund management rights. Sensitivity analysis \u2013 fund management rights and goodwill Goodwill and fund management rights are allocated to the Asset Management cash- generating unit (CGU). As at 31 December 2025, the carrying amount of fund management rights amounted to EUR 28,049 thousand and goodwill amounted to EUR 5,024 thousand. Given that the recoverable amount of the CGU is primarily sensitive to reductions in assets under management and related fee income, management performed a sensitivity analysis to reflect uncertainty arising from the Lithuanian second pillar pension reform effective from 2026. The reform introduces a two-year window during which participants may, under certain conditions, withdraw accumulated pension savings. Such withdrawals may reduce assets under management and management fee income and therefore impact the recoverable amount of the CGU. To assess the potential impact, management modelled alternative Pillar II asset outflow scenarios of 25%, 32% (base case) and 44% during 2026\u20132027. The outflow assumptions were developed with reference to historical experience in other jurisdictions where similar pension system reforms were implemented and comparable withdrawal behaviour was observed. In addition, discount rates of 9.6%, 10.1% (base case) and 10.6% were applied to reflect potential variability in market conditions and risk assessments. The sensitivity analysis demonstrates the headroom (buffer) between the recoverable amount and the carrying amount of the CGU under the scenarios tested. Positive amounts represent excess of recoverable amount over carrying amount, whereas negative amounts would indicate a potential impairment within the CGU, which under IAS 36 would first be allocated to goodwill and then to other assets, including fund management rights. The analysis showed that no impairment would arise under the 25% and 32% outflow scenarios across all discount rates tested. An impairment would arise only under a severe downside scenario assuming 44% Pillar II asset outflows. Based on the impairment test performed and the related sensitivity analyses, management concluded that no impairment of goodwill or fund management rights existed as at 31 December 2025. The table below presents the headroom of the CGU, representing the excess of the recoverable amount over the carrying amount of the CGU (fund management rights), under the scenarios tested. Negative amounts presented in the sensitivity table would indicate that the recoverable amount falls below the carrying amount and therefore a potential impairment of fund management rights.
Discount rate \\ AUM leaving Pillar II
25%
32%
44%
9.60%
10,968
6,897
100
10.10%
9,106
5,258
(1,168)
10.60%
7,438
3,787
(2,306)
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-18": { "value": "NOTE 16 PROPERTY, PLANT AND EQUIPMENT Change in Property, Plant, and Equipment (PPE) Depreciation Policy During the current reporting period, the Bank has revised its depreciation estimations for property, plant, and equipment. The updated estimation establishes the following useful lives for the respective asset groups: buildings \u2013 50 years; garages \u2013 20 years; vehicles \u2013 6 years; computer and telephone equipment \u2013 3 to 5 years; other equipment \u2013 4 to 10 years; furniture \u2013 4 to 6 years; machinery and equipment \u2013 20 to 22 years; and other tangible assets \u2013 4 to 50 years. The change in estimate reflects management\u2019s reassessment of the estimated useful lives of the assets and is applied prospectively. This adjustment aims to better align depreciation charges with the expected economic benefits derived from the use of the respective assets. The change in the useful lives of our property, plant, and equipment affects depreciation going forward, which impacts profit and total comprehensive income. For revalued assets, it can also change the amount of revaluation reserve in equity over time.
31 December 2025
31 December 2024
Group
Bank
Group
Bank
Property, Plant and Equipment
9,482
9,355
7,564
7,394
Right of Use Assets
6,013
5,828
7,697
7,295
Total:
15,495
15,183
15,261
14,689
Group
Buildings, premises
Vehicles
Office equipment
Total
As at 1 January 2024:
and land
Cost
7,848
3,063
6,796
17,707
Accumulated depreciation
(2,774)
(1,505)
(5,550)
(9,829)
Net book value
5,074
1,558
1,246
7,878
Year ended 31 December 2024:
Net book value at 1 January
5,074
1,558
1 246
7,878
Acquisitions
-
86
811
897
Reclassifications
-
12
-
12
Disposals and write-offs
-
(179)
(299)
(478)
Depreciation charge
(166)
(244)
(335)
(745)
Net book value at 31 December
4,908
1,233
1,423
7,564
As at 31 December 2024:
Cost
7,848
2,982
7,308
18,138
Accumulated depreciation
(2,940)
(1,749)
(5,885)
(10,574)
Net book value
4,908
1,233
1,423
7,564
Year ended 31 December 2025:
Net book value at 1 January
4,908
1,233
1,423
7,564
Acquisitions
-
605
1,218
1,823
Reclassifications
-
491
197
688
Disposals and write-offs
-
(784)
(237)
(1,021)
Revaluation (according to updated policy)
1,550
-
-
1,550
Depreciation charge
(166)
(301)
(655)
(1,122)
Net book value at 31 December
6,292
1,244
1,946
9,482
As at 31 December 2025:
Cost
9,398
3,294
8,486
21,178
Accumulated depreciation
(3,106)
(2,050)
(6,540)
(11,696)
Net book value
6,292
1,244
1,946
9,482
Economic life (in years)
50
6
3-10
-
Right-of-use assets and lease liabilities From 1 January 2019, leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. The Group leases various offices, equipment and vehicles. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Rental contracts are typically made for fixed periods of 4 months to 8 years but may have extension options. The terminations of agreements by lessee mostly from 3 to 6 months notice. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes.
Group: right-of-use assets
Buildings, premises and land
Vehicles
Office equipment
Total
As at 31 December 2024
Cost
18,594
514
1,912
21,020
Accumulated depreciation
(11,449)
(257)
(1,617)
(13,323)
Net book value
7,145
257
295
7,697
Year ended 31 December 2025:
Net book value at 1 January
7,145
257
295
7,697
Contract additions
854
1,034
236
2,124
Contract terminations
(743)
(364)
-
(1,107)
Depreciation charge
(2,187)
(126)
(478)
(2,791)
Adjustment
90
-
-
90
Net book value at 31 December
5,159
801
53
6,013
As at 31 December 2025:
Cost
18,800
1,184
2,148
22,132
Accumulated depreciation
(13,641)
(383)
(2,095)
(16,119)
Net book value
5,159
801
53
6,013
NOTE 16 PROPERTY, PLANT AND EQUIPMENT (CONTINUED) Amounts of lease liabilities recognized in Group\u2019s statement of financial position:
31 December 2025
31 December 2024
Lease liabilities before prepayments
6,501
8,060
Short-term (up to 1 year)
2,664
3,121
Long-term (2-5 years)
3,837
4,918
Long-term (over 5 years)
-
21
Prepayments paid
(844)
(771)
Lease liabilities, carrying value
5,656
7,289
Bank
Buildings, premises and land
Vehicles
Office equipment
Total
As at 1 January 2024:
Cost
7,848
2,514
6,318
16,680
Accumulated depreciation
(2,774)
(1,080)
(5,209)
(9,063)
Net book value
5,074
1,434
1,109
7,617
Year ended 31 December 2024:
Net book value at 1 January
5,074
1,434
1,109
7,617
Acquisitions
-
86
776
862
Disposals and write-offs
-
12
-
12
Depreciation charge
-
(159)
(189)
(348)
Reclassification to assets held for sale
(166)
(210)
(373)
(749)
Net book value at 31 December
4,908
1,163
1,323
7,394
As at 31 December 2024:
Cost
7,848
2,453
6,905
17,206
Accumulated depreciation
(2,940)
(1,290)
(5,582)
(9,812)
Net book value
4,908
1,163
1,323
7,394
Year ended 31 December 2025:
Net book value at 1 January
4,908
1,163
1,323
7,394
Acquisitions
-
605
1,185
1,790
Reclassifications
-
491
197
688
Disposals and write-offs
-
(763)
(222)
(985)
Revaluation (according to updated policy)
1,550
-
-
1,550
Depreciation charge
(166)
(286)
(630)
(1,082)
Net book value at 31 December
6,292
1,210
1,853
9,355
As at 31 December 2025:
Cost
9,398
2,786
8,065
20,249
Accumulated depreciation
(3,106)
(1,576)
(6,212)
(10,894)
Net book value
6,292
1,210
1,853
9,355
Economic life (in years)
50
6
3-10
Bank: right-of-use assets
Buildings, premises and land
Vehicles
Office equipment
Total
As at 13 December 2024:
Cost
17,186
514
1,912
19,612
Accumulated depreciation
(10,443)
(257)
(1,617)
(12,317)
Net book value
6,743
257
295
7,295
Year ended 31 December 2025:
Net book value at 1 January
6,743
257
295
7,295
Contract additions
840
1,034
228
2,102
Contract terminations
(740)
(364)
-
(1,104)
Depreciation charge
(1,862)
(126)
(477)
(2,465)
Net book value at 31 December
4,981
801
46
5,828
As at 31 December 2025:
Cost
17,286
1,184
2,140
20,610
Accumulated depreciation
(12,305)
(383)
(2,094)
(14,782)
Net book value
4,981
801
46
5,828
Amounts of lease liabilities recognized in Bank\u2019s statement of financial position:
31 December 2025
31 December 2024
Lease liabilities before prepayments
5,899
7,229
Short-term (up to 1 year)
2,469
2,800
Long-term (2-5 years)
3,430
4,429
Long-term (over 5 years)
-
-
Prepayments received
(849)
(776)
Lease liabilities, carrying value
5,050
6,453
Please see Note 9 for reconciliation of movements lease liabilities. As at 31 December 2024 and 31 December 2025, there were no property, plant and equipment pledged to third parties. Future minimum lease payments to be received under non-cancellable lease agreements for the Bank and the Group were as follows:
2025
2024
up to 1 year
1-5 years
over 5 years
up to 1 year
1-5 years
over 5 years
Group
138
394
6
149
370
27
Bank
138
394
6
149
370
27
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-532": { "value": "
Group
Buildings, premises
Vehicles
Office equipment
Total
As at 1 January 2024:
and land
Cost
7,848
3,063
6,796
17,707
Accumulated depreciation
(2,774)
(1,505)
(5,550)
(9,829)
Net book value
5,074
1,558
1,246
7,878
Year ended 31 December 2024:
Net book value at 1 January
5,074
1,558
1 246
7,878
Acquisitions
-
86
811
897
Reclassifications
-
12
-
12
Disposals and write-offs
-
(179)
(299)
(478)
Depreciation charge
(166)
(244)
(335)
(745)
Net book value at 31 December
4,908
1,233
1,423
7,564
As at 31 December 2024:
Cost
7,848
2,982
7,308
18,138
Accumulated depreciation
(2,940)
(1,749)
(5,885)
(10,574)
Net book value
4,908
1,233
1,423
7,564
Year ended 31 December 2025:
Net book value at 1 January
4,908
1,233
1,423
7,564
Acquisitions
-
605
1,218
1,823
Reclassifications
-
491
197
688
Disposals and write-offs
-
(784)
(237)
(1,021)
Revaluation (according to updated policy)
1,550
-
-
1,550
Depreciation charge
(166)
(301)
(655)
(1,122)
Net book value at 31 December
6,292
1,244
1,946
9,482
As at 31 December 2025:
Cost
9,398
3,294
8,486
21,178
Accumulated depreciation
(3,106)
(2,050)
(6,540)
(11,696)
Net book value
6,292
1,244
1,946
9,482
Economic life (in years)
50
6
3-10
-
Group: right-of-use assets
Buildings, premises and land
Vehicles
Office equipment
Total
As at 31 December 2024
Cost
18,594
514
1,912
21,020
Accumulated depreciation
(11,449)
(257)
(1,617)
(13,323)
Net book value
7,145
257
295
7,697
Year ended 31 December 2025:
Net book value at 1 January
7,145
257
295
7,697
Contract additions
854
1,034
236
2,124
Contract terminations
(743)
(364)
-
(1,107)
Depreciation charge
(2,187)
(126)
(478)
(2,791)
Adjustment
90
-
-
90
Net book value at 31 December
5,159
801
53
6,013
As at 31 December 2025:
Cost
18,800
1,184
2,148
22,132
Accumulated depreciation
(13,641)
(383)
(2,095)
(16,119)
Net book value
5,159
801
53
6,013
Bank
Buildings, premises and land
Vehicles
Office equipment
Total
As at 1 January 2024:
Cost
7,848
2,514
6,318
16,680
Accumulated depreciation
(2,774)
(1,080)
(5,209)
(9,063)
Net book value
5,074
1,434
1,109
7,617
Year ended 31 December 2024:
Net book value at 1 January
5,074
1,434
1,109
7,617
Acquisitions
-
86
776
862
Disposals and write-offs
-
12
-
12
Depreciation charge
-
(159)
(189)
(348)
Reclassification to assets held for sale
(166)
(210)
(373)
(749)
Net book value at 31 December
4,908
1,163
1,323
7,394
As at 31 December 2024:
Cost
7,848
2,453
6,905
17,206
Accumulated depreciation
(2,940)
(1,290)
(5,582)
(9,812)
Net book value
4,908
1,163
1,323
7,394
Year ended 31 December 2025:
Net book value at 1 January
4,908
1,163
1,323
7,394
Acquisitions
-
605
1,185
1,790
Reclassifications
-
491
197
688
Disposals and write-offs
-
(763)
(222)
(985)
Revaluation (according to updated policy)
1,550
-
-
1,550
Depreciation charge
(166)
(286)
(630)
(1,082)
Net book value at 31 December
6,292
1,210
1,853
9,355
As at 31 December 2025:
Cost
9,398
2,786
8,065
20,249
Accumulated depreciation
(3,106)
(1,576)
(6,212)
(10,894)
Net book value
6,292
1,210
1,853
9,355
Economic life (in years)
50
6
3-10
Bank: right-of-use assets
Buildings, premises and land
Vehicles
Office equipment
Total
As at 13 December 2024:
Cost
17,186
514
1,912
19,612
Accumulated depreciation
(10,443)
(257)
(1,617)
(12,317)
Net book value
6,743
257
295
7,295
Year ended 31 December 2025:
Net book value at 1 January
6,743
257
295
7,295
Contract additions
840
1,034
228
2,102
Contract terminations
(740)
(364)
-
(1,104)
Depreciation charge
(1,862)
(126)
(477)
(2,465)
Net book value at 31 December
4,981
801
46
5,828
As at 31 December 2025:
Cost
17,286
1,184
2,140
20,610
Accumulated depreciation
(12,305)
(383)
(2,094)
(14,782)
Net book value
4,981
801
46
5,828
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-19": { "value": "NOTE 17 OTHER ASSETS
2025
2024
Group
Bank
Group
Bank
Financial assets:
8,210
7,345
7,258
6,559
Breakdown of financial assets according to maturity
Short-term (up to 1 year)
6,149
5,284
4,922
4,223
Long-term (over 1 year)
2,061
2,061
2,336
2,336
Non-financial assets:
11,031
9,608
10,193
8,655
Breakdown of non-financial assets according to
maturity
Short-term (up to 1 year)
9,189
8,712
7,715
6,382
Long-term (over 1 year)
1,842
896
2,478
2,273
Inventories
114
-
114
-
Deferred charges
4,920
4,128
4,222
3,674
Assets under reinsurance and insurance contracts
151
-
121
-
Prepayments
3,601
3,085
1,533
782
Foreclosed assets
606
602
228
224
Real estate classified as held for sale
-
-
150
150
Other
1,637
1,791
3,825
3,825
TOTAL OTHER ASSETS
19,241
16,953
17,451
15,214
Balances of other financial assets include impairment. Reconciliation of allowance for impairment of other financial assets is presented in the table below:
Group
Bank
Allowance for impairment of other financial assets as of 1 January 2024:
1,118
1,101
Change in allowance for impairment
(120)
(120)
Other financial assets written-off during the period
(23)
(6)
Reclassifications and other movements
-
-
Allowance for impairment of other financial assets as of 31 December 2024
975
975
Change in allowance for impairment
(679)
(744)
Other financial assets written-off during the period
(15)
-
Reclassifications and other movements
-
-
Allowance for impairment of other financial assets as of 31 December 2025:
281
231
Inventories relate to real estate projects under development and real estate held for sale by the Bank\u2019s subsidiary Artea turto fondas UAB. All inventories are accounted at lower of cost and net realisable value. Inventories are not pledged. NOTE 22 ASSETS AND LIABILITIES RELATED TO INSURANCE ACTIVITIES For the years ended 31 December 2024 and 2025 insurance and investment contracts liabilities and their changes were as follows:
Estimate of present
Payables to
value of future cash
Risk adjustment for non-
Contractual service
Investment
policyholders
Total
flows
financial risks
margin
units
and
Gross:
intermediaries
At 1 January 2024
39,722
17,014
30,259
92,322
-
179,317
Change during period
10,997
1,509
2,157
4,364
88
19,115
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
Change during period
11,276
(788)
(553)
4,504
(21)
14,418
At 31 December 2025
61,995
17,735
31,863
101,190
67
212,850
Reinsurance share:
At 1 January 2024
1
-
-
-
-
1
Change during period
(1)
-
-
-
-
(1)
At 31 December 2024
-
-
-
-
-
-
Change during period
64
(4)
-
-
-
60
At 31 December 2025
64
(4)
-
-
-
60
Net value
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
At 31 December 2025
62,059
17,731
31,863
101,190
67
212,910
Reconciliation of the components of insurance contract assets and liabilities In table below liabilities are disclosed with opposite signs than shown in the balance sheet.
31 December 2025
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
7,085
(800)
(223)
6,062
Opening insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net opening position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
Insurance revenue
12,655
-
-
12,655
Insurance service expenses
- Incurred benefits and expenses
-
-
(8,269)
(8,269)
- Changes that relate to past service - adjustments to LIC
-
-
2,659
2,659
- Losses on onerous contracts and reversal of those losses
-
(177)
-
(177)
- Amortization of insurance acquisition cash flows
(1,226)
-
-
(1,226)
Insurance finance expenses through profit and loss
(8,192)
22
(7)
(8,177)
Investment components
10,433
-
(10,433)
-
Total changes in statement of profit and loss
13,670
(155)
(16,050)
(2,535)
Premiums received
(27,057)
-
-
(27,057)
Claims paid
-
-
13,320
13,320
Directly attributable expenses paid
-
-
2,890
2,890
Acquisition cost paid
3,447
-
-
3,447
Total cash flows
(23,610)
-
16,210
(7,400)
Closing insurance contract assets
6,090
(565)
(191)
5,334
Closing insurance contract liabilities
(112,845)
(2,633)
(1,449)
(116,927)
Net closing position of insurance contracts
(106,755)
(3,198)
(1,640)
(111,593)
31 December 2024
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
5,019
(342)
(185)
4,492
Opening insurance contract liabilities
(87,798)
(2,306)
(1,383)
(91,487)
Net opening position of insurance contracts
(82,779)
(2,648)
(1,568)
(86,995)
Insurance revenue
10,516
-
-
10,516
Insurance service expenses
- Incurred benefits and expenses
-
-
(7,104)
(7,104)
- Changes that relate to past service - adjustments to LIC
-
-
979
979
- Losses on onerous contracts and reversal of those losses
-
(354)
-
(354)
- Amortization of insurance acquisition cash flows
(995)
-
-
(995)
Insurance finance expenses through profit and loss
(12,770)
(41)
(11)
(12,822)
Investment components
10,080
-
(10,080)
-
Total changes in statement of profit and loss
6,831
(395)
(16,216)
(9,780)
Premiums received
(25,861)
-
-
(25,861)
Claims paid
-
-
12,332
12,332
Directly attributable expenses paid
-
-
3,652
3,652
Acquisition cost paid
4,994
-
-
4,994
Total cash flows
(20,867)
-
15,984
(4,883)
Closing insurance contract assets
7,085
(800)
(223)
6,062
Closing insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net closing position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-20": { "value": "NOTE 18 DUE TO OTHER BANKS AND FINANCIAL INSTITUTIONS
2025
2024
Group
Group
Group
Bank
Current accounts/overnight deposits
24,789
24,789
6,061
6,061
Deposits with agreed maturity
20,576
20,576
42,054
42,054
Total Due to Credit Institutions:
45,365
45,365
48,115
48,115
Current accounts/overnight deposits
131,481
132,537
104,428
107,055
Deposits with agreed maturity
20,364
20,364
77,281
77,281
Total Other Financial Institutions:
151,845
152,901
181,709
184,336
Total
197,210
198,266
229,824
232,451
Breakdown of due to other banks and financial institutions according to maturity
Short-term (up to 1 year)
186,713
187,769
185,625
188,252
Long-term (over 1 year)
10,497
10,497
44,199
44,199
Total
197,210
198,266
229,824
232,451
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-21": { "value": "NOTE 19 DEPOSITS FROM CLIENTS
31 December 2025
31 December 2024
(restated)
Demand deposits:
Group
Bank
Group
Bank
General governments
232,672
232,672
225,091
225,091
Non-financial corporations
886,174
886,954
593,230
598,549
Households
925,887
925,887
755,512
755,512
Transit, deposited liabilities
31,977
31,977
26,640
26,640
Deposits value change due to hedge accounting
(260)
(260)
-
-
Total demand deposits
2,076,450
2,077,230
1,600,473
1,605,792
Term deposits:
General governments
45,283
45,283
51,530
51,530
Non-financial corporations
266,534
266,534
246,079
246,079
Households
1,572,934
1,572,934
1,498,963
1,498,963
Total term deposits
1,884,751
1,884,751
1,796,572
1,796,572
Total
3,961,201
3,961,981
3,397,045
3,402,364
Breakdown of due to customers according to maturity
Short-term (up to 1 year)
3,768,093
3,768,873
3,155,064
3,160,383
Long-term (over 1 year)
193,108
193,108
241,981
241,981
Total
3,961,201
3,961,981
3,397,045
3,402,364
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromCustomersExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-22": { "value": "NOTE 20 DEBT SECURITIES IN ISSUE On 15 June 2023 Bank has successfully completed a 10-year subordinated bond issue (ISIN code LT0000407751) with a nominal value of EUR 50 million in the international financial markets, which bear a coupon of 10.75%. Subordinated bonds are included into the bank's Tier 2 capital. The bonds maturity date is on 22 June 2033. The bonds were issued with the issuer's right of early redemption after five years, on 22 June 2028. On this date, the Bank will have two options: to redeem the issued bonds early or to set a new coupon consisting of a fixed and a floating part (750bps + 5-year Mid- Swap Rate). From 27 June 2023 these bonds are listed on Nasdaq Baltic Bonds List. On May 22, 2024, Bank successfully issued EUR 25 million subordinated bonds (ISIN code LT0000409013) in the international financial markets. This issuance aims to strengthen the bank's capital base and support future growth initiatives. The bonds carry an annual interest rate of 7.7%, with interest payments scheduled quarterly. The maturity date for these bonds is May 22, 2034. Starting from May 28, 2024, these bonds are listed on the Nasdaq Baltic Bond List. On September 5, 2024, Bank issued EUR 300 million senior preferred bonds fixed rate reset bonds (ISIN code XS2887816564) in the international financial markets. This issuance was conducted to meet the future Minimum Requirement for Own Funds and Eligible Liabilities (MREL) as set by the bank's supervisory authorities. The annual fixed rate coupon on the notes up to the reset date will be 4.853 %. The maturity date for these bonds is December 5, 2028, with an optional call date and interest rate reset at 3.25 years from issue. From September 5, 2024, these bonds were admitted to the official list of Euronext Dublin and to trading on the regulated market of Euronext Dublin. On October 2024, Bank successfully completed the issuance of EUR 50 million in Fixed Rate Reset Perpetual Additional Tier 1 (AT1) Temporary Write Down Notes (ISIN code XS2922133363) in the international financial markets. The bonds bear a coupon of 8.75% per annum and are structured as perpetual instruments with a fixed rate reset mechanism. The notes qualify as Additional Tier 1 capital, reinforcing the bank\u2019s capital adequacy position. The issuance includes an issuer call option after 5 years, allowing the bank to either redeem the bonds early or reset the coupon rate. The purpose of this issuance was to further strengthen the bank's capital structure in line with regulatory requirements. Starting from November 8, 2024, these bonds are admitted to trading on the Global Exchange Market of Euronext Dublin administered by the Irish Stock Exchange plc. On March 25, 2025, Bank issued EUR 300 million senior preferred bonds fixed rate reset bonds (ISIN code XS3025213102) in the international financial markets. The proceeds of the notes are used to meet existing and future minimum own funds and eligible liabilities (MREL) targets, improve the bank's liquidity position, and finance other general corporate purposes. The annual fixed rate coupon on the notes up to the reset date will be 4.597%. The maturity date for these bonds is June 25, 2030, with an optional call date and interest rate reset at 4.25 years from issue. From March 25, 2025, these bonds were admitted to the official list of Euronext Dublin and to trading on the regulated market of Euronext Dublin. On 24 April 2025 Bank has redeemed the issue of EUR 20 million nominal value of 6.15% fixed rate subordinated second tier notes (ISIN code LT0000404287), by exercising the early redemption right. As of 24 April 2025, these bonds have been delisted from the Nasdaq Vilnius Bond List and deleted from the Nasdaq CSD accordingly. On October 7, 2025, Bank issued EUR 300 million senior preferred bonds fixed rate reset bonds (ISIN code XS3191554495) in the international financial markets. The proceeds of the notes are used to meet existing and future minimum own funds and eligible liabilities (MREL) targets, further strengthen the bank's liquidity position, and maintain its business growth momentum. The annual fixed rate coupon on the notes up to the reset date will be 3,739%. The maturity date for these bonds is October 7, 2029, with an optional call date and interest rate reset at 3 years from issue. From October 7, 2025, these bonds were admitted to the official list of Euronext Dublin and to trading on the regulated market of Euronext Dublin. Cash flows and other movements of issued debt securities:
2025
2024
Group
Bank
Group
Bank
As at 1 January
448,159
448,159
276,480
276,480
Issuance
597,307
597,307
375,000
375,000
Redemptions
(20,000)
(20,000)
(210,000)
(210,000)
Accrued interest
39,920
39,920
13,166
13,166
Coupon payments
(30,122)
(30,122)
(13,387)
(13,387)
Discount
701
701
6,900
6,900
Bonds value change due to hedge accounting
(1,502)
(1,502)
-
-
As at 31 December
1,034,463
1,034,463
448,159
448,159
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-533": { "value": "
NOTE 22
ASSETS AND LIABILITIES RELATED TO INSURANCE ACTIVITIES
For the years ended 31 December 2024 and 2025 insurance and investment
contracts liabilities and their changes were as follows:
Estimate of present
Payables to
value of future cash
Risk adjustment for non-
Contractual service
Investment
policyholders
Total
flows
financial risks
margin
units
and
Gross:
intermediaries
At 1 January 2024
39,722
17,014
30,259
92,322
-
179,317
Change during period
10,997
1,509
2,157
4,364
88
19,115
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
Change during period
11,276
(788)
(553)
4,504
(21)
14,418
At 31 December 2025
61,995
17,735
31,863
101,190
67
212,850
Reinsurance share:
At 1 January 2024
1
-
-
-
-
1
Change during period
(1)
-
-
-
-
(1)
At 31 December 2024
-
-
-
-
-
-
Change during period
64
(4)
-
-
-
60
At 31 December 2025
64
(4)
-
-
-
60
Net value
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
At 31 December 2025
62,059
17,731
31,863
101,190
67
212,910
Reconciliation of the components of insurance contract assets and liabilities
In table below liabilities are disclosed with opposite signs than shown in the balance sheet.
31 December 2025
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
7,085
(800)
(223)
6,062
Opening insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net opening position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
Insurance revenue
12,655
-
-
12,655
Insurance service expenses
- Incurred benefits and expenses
-
-
(8,269)
(8,269)
- Changes that relate to past service - adjustments to LIC
-
-
2,659
2,659
- Losses on onerous contracts and reversal of those losses
-
(177)
-
(177)
- Amortization of insurance acquisition cash flows
(1,226)
-
-
(1,226)
Insurance finance expenses through profit and loss
(8,192)
22
(7)
(8,177)
Investment components
10,433
-
(10,433)
-
Total changes in statement of profit and loss
13,670
(155)
(16,050)
(2,535)
Premiums received
(27,057)
-
-
(27,057)
Claims paid
-
-
13,320
13,320
Directly attributable expenses paid
-
-
2,890
2,890
Acquisition cost paid
3,447
-
-
3,447
Total cash flows
(23,610)
-
16,210
(7,400)
Closing insurance contract assets
6,090
(565)
(191)
5,334
Closing insurance contract liabilities
(112,845)
(2,633)
(1,449)
(116,927)
Net closing position of insurance contracts
(106,755)
(3,198)
(1,640)
(111,593)
31 December 2024
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
5,019
(342)
(185)
4,492
Opening insurance contract liabilities
(87,798)
(2,306)
(1,383)
(91,487)
Net opening position of insurance contracts
(82,779)
(2,648)
(1,568)
(86,995)
Insurance revenue
10,516
-
-
10,516
Insurance service expenses
- Incurred benefits and expenses
-
-
(7,104)
(7,104)
- Changes that relate to past service - adjustments to LIC
-
-
979
979
- Losses on onerous contracts and reversal of those losses
-
(354)
-
(354)
- Amortization of insurance acquisition cash flows
(995)
-
-
(995)
Insurance finance expenses through profit and loss
(12,770)
(41)
(11)
(12,822)
Investment components
10,080
-
(10,080)
-
Total changes in statement of profit and loss
6,831
(395)
(16,216)
(9,780)
Premiums received
(25,861)
-
-
(25,861)
Claims paid
-
-
12,332
12,332
Directly attributable expenses paid
-
-
3,652
3,652
Acquisition cost paid
4,994
-
-
4,994
Total cash flows
(20,867)
-
15,984
(4,883)
Closing insurance contract assets
7,085
(800)
(223)
6,062
Closing insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net closing position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
NOTE 23
OTHER LIABILITIES
2025
2024
Financial liabilities:
Group
Bank
Group
Bank
Trade payables
1,253
-
3,462
-
Accrued charges
34,893
34,867
36,256
32,792
Lease liabilities (see Note 18)
5,656
5,050
6,708
6,453
Other financial liabilities
3,218
-
-
-
Total financial liabilities
45,020
39,917
46,426
39,245
Breakdown of other financial liabilities according to maturity
Short-term (up to 1 year)
41,000
36,220
41,425
34,530
Long-term (over 1 year)
4,020
3,697
5,001
4,715
Non-financial liabilities:
Advance amounts received from the buyers of assets
5,965
-
5,702
-
Deferred income
1,346
679
4,033
719
Provisions
55
-
74
-
Other liabilities
3,465
673
1,185
944
Total non-financial liabilities
10,831
1,352
10,994
1,663
Breakdown of other non-financial liabilities according to maturity
Short-term (up to 1 year)
10,077
1,106
9,858
1,424
Long-term (over 1 year)
754
246
1,136
239
Total non-financial liabilities
10,831
1,352
10,994
1,663
Provisions are recognized as the Group\u2018s subsidiaries involved in the real estate
activities grant service commitments for the properties they develop and sell or for
pending legal issues against the Group companies. The movement of provisions is
presented in the table below:
2025
2024
Group
Bank
Group
Bank
Provisions at 1 January
74
-
183
-
Additions/(reversals), including increases (decreases) in existing provisions
(19)
-
(109)
-
Amounts used
-
-
-
-
Other movements (reclassifications)
-
-
-
-
Provisions at 31 December
55
-
74
-
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-558": { "value": "NOTE 22 ASSETS AND LIABILITIES RELATED TO INSURANCE ACTIVITIES For the years ended 31 December 2024 and 2025 insurance and investment contracts liabilities and their changes were as follows:
Estimate of present
Payables to
value of future cash
Risk adjustment for non-
Contractual service
Investment
policyholders
Total
flows
financial risks
margin
units
and
Gross:
intermediaries
At 1 January 2024
39,722
17,014
30,259
92,322
-
179,317
Change during period
10,997
1,509
2,157
4,364
88
19,115
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
Change during period
11,276
(788)
(553)
4,504
(21)
14,418
At 31 December 2025
61,995
17,735
31,863
101,190
67
212,850
Reinsurance share:
At 1 January 2024
1
-
-
-
-
1
Change during period
(1)
-
-
-
-
(1)
At 31 December 2024
-
-
-
-
-
-
Change during period
64
(4)
-
-
-
60
At 31 December 2025
64
(4)
-
-
-
60
Net value
At 31 December 2024
50,719
18,523
32,416
96,686
88
198,432
At 31 December 2025
62,059
17,731
31,863
101,190
67
212,910
Reconciliation of the components of insurance contract assets and liabilities In table below liabilities are disclosed with opposite signs than shown in the balance sheet.
31 December 2025
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
7,085
(800)
(223)
6,062
Opening insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net opening position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
Insurance revenue
12,655
-
-
12,655
Insurance service expenses
- Incurred benefits and expenses
-
-
(8,269)
(8,269)
- Changes that relate to past service - adjustments to LIC
-
-
2,659
2,659
- Losses on onerous contracts and reversal of those losses
-
(177)
-
(177)
- Amortization of insurance acquisition cash flows
(1,226)
-
-
(1,226)
Insurance finance expenses through profit and loss
(8,192)
22
(7)
(8,177)
Investment components
10,433
-
(10,433)
-
Total changes in statement of profit and loss
13,670
(155)
(16,050)
(2,535)
Premiums received
(27,057)
-
-
(27,057)
Claims paid
-
-
13,320
13,320
Directly attributable expenses paid
-
-
2,890
2,890
Acquisition cost paid
3,447
-
-
3,447
Total cash flows
(23,610)
-
16,210
(7,400)
Closing insurance contract assets
6,090
(565)
(191)
5,334
Closing insurance contract liabilities
(112,845)
(2,633)
(1,449)
(116,927)
Net closing position of insurance contracts
(106,755)
(3,198)
(1,640)
(111,593)
31 December 2024
Liability For Remaining Coverage
LIC for contracts measured under
Total
Excl. LC
LC
GMM/VFA
Opening insurance contract assets
5,019
(342)
(185)
4,492
Opening insurance contract liabilities
(87,798)
(2,306)
(1,383)
(91,487)
Net opening position of insurance contracts
(82,779)
(2,648)
(1,568)
(86,995)
Insurance revenue
10,516
-
-
10,516
Insurance service expenses
- Incurred benefits and expenses
-
-
(7,104)
(7,104)
- Changes that relate to past service - adjustments to LIC
-
-
979
979
- Losses on onerous contracts and reversal of those losses
-
(354)
-
(354)
- Amortization of insurance acquisition cash flows
(995)
-
-
(995)
Insurance finance expenses through profit and loss
(12,770)
(41)
(11)
(12,822)
Investment components
10,080
-
(10,080)
-
Total changes in statement of profit and loss
6,831
(395)
(16,216)
(9,780)
Premiums received
(25,861)
-
-
(25,861)
Claims paid
-
-
12,332
12,332
Directly attributable expenses paid
-
-
3,652
3,652
Acquisition cost paid
4,994
-
-
4,994
Total cash flows
(20,867)
-
15,984
(4,883)
Closing insurance contract assets
7,085
(800)
(223)
6,062
Closing insurance contract liabilities
(103,900)
(2,243)
(1,577)
(107,720)
Net closing position of insurance contracts
(96,815)
(3,043)
(1,800)
(101,658)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInsuranceContractsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-23": { "value": "NOTE 24 CAPITAL At 31 May 2024 The European Bank for Reconstruction and Development (EBRD), together with asset management group Invalda INVL, Tesonet Global, a member of the Tesonet group of companies, and Willgrow, the holding company that manages Girteka Logistics, have finalised a series of planned transactions, which together dispose of a total of 16.33% of the shares of Artea Bank. 31 December 2020 The European Bank for Reconstruction and Development (EBRD) held 26.02% of the Bank's share capital and votes. On 22 December 2021, the EBRD announced its decision to sell its 18% stake in the Bank. The EBRD has signed 3 separate agreements for the sale of the Bank's shares: with the asset management group Invalda INVL, Tesonet Global belonging to the Tesonet group of companies, and Willgrow, a holding company managed by Girteka Logistics. The respective shareholdings to be sold are 5,87 %, 5,87 % and 6,29 %. The acquisition process was carried out through a series of transactions which lasted until June 2024. 29 December 2021. \"Willgrow announced the acquisition of a 5.71% stake in the Bank. On 30 June 2024, following the completion of the transaction milestones, Invalda INVL Group\u2019s shareholding in Artea Bank increased to 19.93%, Willgrow's to 8.97% and Tesonet Global's to 5.32%. As a result of these transactions, the EBRD owns 7.25% of the Bank's share capital and voting rights.. As of 31 December 2024 share capital of the Bank amounted to EUR 192,269 thousand it comprised 662,996 thousand ordinary registered shares with par value of EUR 0.29 each. In 2025, the Bank\u2019s share capital was reduced by 10,598 thousand units of ordinary registered shares, with a nominal value of EUR 0.29 each. The total nominal value of the cancelled shares amounted to EUR 3,073 thousand. As at 31 December 2025, the share capital amounted to EUR 189,196 thousand and consisted of 652,399 thousand ordinary registered shares. As at 31 December 2025, the Bank had 20,807 shareholders (as at 31 December 2024: 18,774). Share premium The share premium represents the difference between the issue price and nominal value of the shares issued by the Bank. Share premium can be used to increase the Bank\u2019s authorised share capital. In 2018, the share premium of EUR 3,428 thousand was recognized in the subordinated loan conversion process. In 2023 share premium has increased to EUR 25,534 due to business combination. During the year 2024 and 2025 there were no additional share premium increase. Reserve capital The reserve capital is formed from the Bank\u2019s profit and its purpose is to ensure the financial stability of the Bank. The shareholders may decide to use the reserve capital to cover losses incurred. Statutory reserve According to the Law of the Republic of Lithuania on Banks, allocations to the statutory reserve shall be compulsory and shall not be less than 1/20 of the profit available for appropriation. The statutory reserve may, by a decision of extraordinary general or annual meeting of the shareholders, be used only to cover losses of the activities. Reserve for acquisition of own shares As of 31 December 2025, the carrying value of the reserve for the repurchase of own shares is EUR 20,000 thousand (as of 31 December 2024 - EUR 20,000 thousand). On 15 August 2024 the Bank has received permission from the European Central Bank (ECB) to buy back up to 13,745 thousand of its own shares. 24 January 2025 the Bank has completed its own share buy-back programme on the regulated market, which was carried out from 4 November 2024. During this period, the Bank acquired 5,093 thousand treasury shares, i.e. 74 % of the maximum number of shares within the limit set at the time of the programme's expiry, for a total amount of EUR 4,345 thousand, at an average price of EUR 0.853 per share. On 10 June, the Bank has completed its own share buy-back programme on the regulated market, which was carried out from 5 May, 2025. During this period, the Bank acquired 2,540 thousand treasury shares, i.e. 96 % of the maximum number of shares within the limit set at the time of the programme's expiry, for a total amount of EUR 2,225 thousand, at an average price of EUR 0.876 per share NOTE 24 CAPITAL (CONTINUED) This buyback program, the purpose of which is to reduce the Bank's capital, was approved by the Management Board of Bank on April 30, 2025, implementing the decision of the Bank's ordinary general meeting of shareholders of March 31, 2025. On 23 September 2025 the Bank received permission from the European Central Bank (ECB) to buy back up to 4 500 thousand of its own shares. Shares to be acquired in the market in the one year period starting from the date of the permission. On 24 October, 2025 the Bank has completed its own share buy-back programme on the regulated market, which was carried out from 6 October, 2025. During this period, the Bank acquired 1,130 thousand treasury shares for a total amount of EUR 930 thousand, at an average price of EUR 0.823 per share. The Bank's own share buy-back programme announced on 26 November 2025, till 31 December 2025 - the Bank acquired 2,049 thousand treasury shares for a total amount of EUR 1,893 thousand at an average price of EUR 0.924 per share. As of 31 December 2025 the Bank held 5,719 thousand own shares with carrying value of EUR 4,967 thousand at an average price of EUR 0.869 per share. Other equity Other equity consists of amount that corresponds to the obligation to present Bank\u2018s shares to Group\u2018s employees as part of variable remuneration. The Group\u2019s remuneration policy prescribes two main elements of remuneration \u2013 fixed remuneration and variable remuneration, and various additional benefits. Employees whose professional activities and/or decisions might have a significant impact on the risk accepted by the Group, receive deferred variable remuneration. The remuneration amounts are accrued as staff expenses in income statement. Until 2018, Group\u2019s incentive scheme included deferred payments in shares and cash of not less than 40% of variable remuneration being paid in equal instalments during three-year period. From 2019 under the Group's incentive scheme employees whose professional activities and/or decisions may have a significant impact on the risk assumed be the Group receive 50% of the annual long term incentive program in cash and 50% in form of Bank's shares options executable after 3 years. The number of share options is based on the currency value of the achieved results divided by the weighted average price at which the Bank's shares are traded on Nasdaq Vilnius during the period of five months prior the approval of renumeration. Each option is convertible into one ordinary share. The Group has assessed fair value of shares option by the Black-Scholes model which is attributable to Level 3 in fair value hierarchy. The model inputs include: \u2022 For the option granted on March 31, 2025: grant date (March 31, 2025), expiry dates (April 14, 2028; April 13, 2029; and April 12, 2030), share price on the grant date EUR 0.899, 3-year exercise price EUR 0.7683, 4- year EUR 0.7402, 5-year EUR 0.7364, expected volatility of the bank\u2019s share price 22%, risk-free interest rates \u2013 2.5%, 2.8%, 2.9%; \u2022 For the option granted on March 31, 2024: grant date (March 31, 2024), expiry dates (April 14, 2028 and April 13, 2029), share price on the grant date EUR 0.709, 4-year exercise price EUR 0.6006, 5-year exercise price EUR 0.5774, expected volatility of the bank\u2019s share price 25%, risk- free interest rate \u2013 3.5%; \u2022 For the option granted on March 31, 2023: grant date (March 31, 2023), expiry dates (April 9, 2027 and April 14, 2028), share price on the grant date EUR 0.747, 4-year exercise price EUR 0.6546, 5-year exercise price EUR 0.6502, expected volatility of the bank\u2019s share price 26%, risk- free interest rates \u2013 5% and 2.3%; \u2022 For the option granted on March 30, 2022: grant date (March 30, 2022), expiry date (April 11, 2025), share price on the grant date EUR 0.656, exercise price EUR 0.588, expected volatility of the bank\u2019s share price 28%, risk-free interest rate \u2013 0.1%. The value of the option is included in other equity line in the statement of financial position. Other equity consists of:
2025
2024
Group
Bank
Group
Bank
Options
1,627
1,201
1,480
1,019
Shares distributable to the employees
-
-
-
-
Total
1,627
1,201
1,480
1,019
No options were forfeited or expired during years ended 31 December 2024 and 31 December 2025. During 12 months period ended 31 December 2024 2,273 thousand units of share options were exercised for benefit of Group\u2019s defined employees (for benefit of Bank\u2019s defined employees \u2013 1,991 thousand units). During 12 months period ended 31 December 2025 1,745 thousand units of share options were exercised for benefit of Group\u2019s defined employees (for benefit of Bank\u2019s defined employees \u2013 1,495 thousand units). ", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-24": { "value": "NOTE 25 CONTINGENT LIABILITIES AND COMMITMENTS Contingent tax liabilities The Tax Authorities have not carried out a full-scope tax audit of the Bank for the period from 2020 to 2025. The Tax Authorities may at any time during 5 successive years after the end of the reporting tax year carry out an inspection of the Bank\u2018s books and accounting records and impose additional taxes or fines. Management is not aware of any circumstances that might result in a potential material liability in this respect. Guarantees issued, letters of credit, commitments to grant loans and other commitments
2025
2024
Group
Group
Group
Bank
Financial guarantees issued
61,975
62,025
87,985
87,985
Letters of credit
33,356
33,356
135
135
Commitments to grant loans
431,432
471,953
393,190
403,413
Other commitments
-
-
298
298
Total
526,763
567,334
481,608
491,831
As the guarantees and letters of credit are either 100% secured by cash collaterals pledged by the customers to the Bank, or are issued using the credit line that the Bank has granted to the customer (which has its own collaterals and impairment is calculated for the credit line), no ECL impairment provisions are formed against these obligations. Commitments to grant loans are included in the EAD model in loan ECL calculations and the impairment is calculated for the whole instrument that includes both on-balance and off-balance sheet amounts, therefore the impairment for commitments to grant loans is included in the loan impairment amount. The Group\u2018s liabilities include provisions for other contingent liabilities that are recognized using IAS 37 approach. Such provisions are mentioned in Note 23.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-25": { "value": "NOTE 26 DIVIDENDS On 31 March 2025 ordinary general meeting of shareholders made a decision to pay EUR 0. 061 (i.e. 7.4%) dividends per one ordinary registered share with EUR 0.29 nominal value each. On 29 March 2024 ordinary general meeting of shareholders made a decision to pay EUR 0.0485 (i.e. 16.7%) dividends per one ordinary registered share with EUR 0.29 nominal value each. The table below demonstrates movements in dividends for the years 2024 and 2025:
2025
2024
Unpaid dividend amount at 1 January:
30
94
Dividends declared
39,796
32,095
Dividends paid
(39,719)
(32,159)
Unpaid dividend amount at 31 December:
107
30
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-534": { "value": "0.061", "decimals": 4, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-535": { "value": "0.0485", "decimals": 4, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:549300TK038P6EV4YU51", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-26": { "value": "NOTE 27 RELATED-PARTY TRANSACTIONS Related parties with the Bank are classified as follows: a) members of the Bank\u2019s Supervisory Council and Board (which also are the main decision makers of the Group), their close family members and companies that are controlled, jointly controlled over by these related parties; b) subsidiaries of the Bank, includes Artea Life Insurance UAB, Artea Lizingas UAB, Artea turto fondas UAB, Artea Asset Management UAB, Artea Retrofit Fund 1 UAB, Artea Retrofit Fund 2 UAB; c) the shareholders holding over 20% of the Bank\u2019s share capital or being a part of a voting group acting in concert that holds over 20% of voting rights therefore presumed to have a significant influence over the Group. During 2025 and 2024, a certain number of banking transactions were entered into with related parties in the ordinary course of business. These transactions include settlements, loans, deposits and foreign currency transactions. The year-end balances of loans (incl. off-balance sheet commitments) granted to and deposits accepted from the Bank\u2019s related parties, except for subsidiaries, and ranges of annual interest rates were as follows (data of the Bank):
Deposits, at the
Range of annual interest
Loans, at the
Range of annual interest
commitments, at the year-
Off-balance sheet
year-end
rates, %
year-end
rates, %
end
Members of the Council and the
2025
2024
2025
2024
2025
2024
2025
2024
2024
2025
Board
1,512
576
0 - 4.050
0,00-4,30
454
765
3.29 - 3.32
4,37-4,66
44
22
Other related parties (excluding
4,645
708
0 - 4.300
0,00-4,75
2,135
8,722
4.818
0,69-5,343
1
-
subsidiaries of the Bank)
Total
6,157
1,284
-
-
2,589
9,487
-
-
45
22
% of regulatory capital
0,01%
0,00%
0,00%
0,01%
0,00%
0,00%
In 2025 EUR 10 thousand interest income were generated from transactions with related parties (except for subsidiaries, in 2024 \u2013 EUR 42 thousand). As at 31 December 2025 loans to related parties (except for subsidiaries) with gross value before impairment provisions of EUR 2,589 thousand (31 December 2024: EUR 9,487 thousand) had collaterals. At 31 December 2025 and 2024 Bank\u2019s subsidiaries had no material transactions with the related parties except for the Bank and its subsidiaries. Transactions with subsidiaries: Balances of Bank\u2019s transactions with the subsidiaries are given below:
Deposits, at the
Range of annual interest
Loans, at the
Range of annual interest
Off-balance sheet
commitments, at the year-
year-end
rates, %
year-end
rates, %
end
2025
2024
2025
2024
2025
2024
2025
2024
2025
2024
Non-financial institutions
59,048
60,598
0 - 3.000
0-3.750
71,284
63,211
3.51-14.36
4.55-15.40
-
12,000
Artea Retrofit Fund 1 ir Artea
57,270
52,665
71,284
75,211
Retrofit Fund 2
Financial institutions
58
13
0.00
0.00
300,774
290,817
4.39
2.6
47,191
17,628
NOTE 27 RELATED-PARTY TRANSACTIONS (CONTINUED) No collateral has been received for loans granted to subsidiaries. Artea Retrofit Fund 1 and Artea Retrofit Fund 2 are not consolidated under IFRS 10, but are treated as a related party under IAS 24. Balance sheet balances of the Bank's and Group transactions with subsidiaries (information on investments in subsidiaries is provided in Note 14):
Assets
2025
2024
Loans
372,057
354,028
Artea Retrofit Fund 1 and Artea Retrofit Fund 2
71,284
75,211
Other assets
-
-
Artea Retrofit Fund 1 and Artea Retrofit Fund 2
270
270
Liabilities
-
Term deposits
-
-
Demand deposits
59,106
60,611
Artea Retrofit Fund 1 and Artea Retrofit Fund 2
57,270
52,665
Other liabilities
-
-
Income and expenses arising from transactions with subsidiaries:
2025
2024
Income
Interest
17,512
16,898
Commission income
7,119
6,432
Income (losses) from foreign exchange operations
-
-
Other income
1,056
785
Expenses
Interest
(43)
(153)
Operating expenses
1,570
940
Impairment (reversal of impairment) of loans
-
150
Impairment of an investment to subsidiaries
-
-
Remuneration of the management of the Group and Bank
2025
2024
Fixed renumeration in cash
1,527
1,428
Variable renumeration in cash
25
-
Variable renumeration in shares of Bank
1,223
605
Total
2,775
2,033
No other post-employment benefit or long-term benefit were paid to Bank\u2019s Management Board (including management). Liabilities related to long term benefits related to remuneration are presented in the table below:
2025
2024
Short-term (up to 1 year)
632
597
Long-term (over 1 year)
2,040
1,543
Total
2,672
2,140
Below 1
Payment in cash due in:
Below 1
Payment in shares due in:
Total
31 December 2024:
year
1-2 years
2-3 years
Total
year
1-2 years
2-3 years
Total
for year 2021 salaries and bonuses
-
-
-
-
597
-
-
597
597
for year 2022 salaries and bonuses
-
-
-
-
-
573
-
573
573
for year 2023 salaries and bonuses
-
-
-
-
-
-
970
970
970
Total liability at 31 December 2024
-
-
-
-
597
573
970
2,140
2,140
31 December 2025:
for year 2022 salaries and bonuses
-
-
-
-
632
632
632
for year 2023 salaries and bonuses
-
-
-
-
880
880
880
for year 2024 salaries and bonuses
-
-
-
-
1,160
1,160
1,160
Total liability at 31 December 2025
-
-
-
-
632
880
1,160
2,672
2,672
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-27": { "value": "NOTE 28 FINANCIAL GROUP INFORMATION According to local legislation the Bank is required to disclose certain information for the Financial group. As of 31 December 2025 the Bank owned the following controlled subsidiaries included in the prudential scope of consolidation (the Bank and four subsidiaries comprised the Financial group, all of the entities attributable to Financial Group operate in Lithuania): 1. ArteaTurto Fondas UAB (real estate management activities), 2. Artea Lizingas UAB (consumer financing activities), 3. Artea Asset Management UAB (fund management activities). In the Financial Group financial statements, the subsidiaries of the Bank that are not included in the Financial Group are not consolidated in full as would be required by IFRS 10 but presented on the consolidated balance sheet of the Financial Group as investments in subsidiaries at cost less impairment, in the same way as presented on the balance sheet of the Bank. This presentation is consistent with the regulatory reporting made by the Bank according to the Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR). STATEMENT OF FINANCIAL POSITION
31 December 2025
31 December 2024
ASSETS
Fin. Group
Bank
Fin. Group
Bank
Cash and cash equivalents
384,923
383,623
387,680
386,365
Securities in the trading book
11,031
10,038
18,020
13,543
Due from other banks
9,035
9,035
3,121
3,121
Derivative financial instruments
151
151
1,093
1,093
Loans to customers
3,713,724
3,691,955
3,434,597
3,421,904
Investment securities at fair value
262,380
254,974
43,868
43,620
Investment securities at amortized cost
1,348,506
1,348,506
716,864
716,864
Investments in subsidiaries and associates
44,372
96,929
38,180
84,069
Intangible assets
37,513
6,498
40,569
7,859
Property, plant and equipment
15,436
15,183
15,070
14,689
Current income tax prepayment
7,853
7,842
82
-
Deferred income tax asset
6,460
2,340
6,074
2,716
Other financial assets
8,305
7,345
7,403
6,559
Other non-financial assets
10,269
9,608
9,940
8,655
Total assets
5,859,958
5,844,027
4,722,561
4,711,057
LIABILITIES
Due to other banks and financial institutions
197,957
198,266
231,890
232,451
Derivative financial instruments
3,326
3,326
123
123
Due to customers
3,961,201
3,961,981
3,397,045
3,402,364
Debt securities in issue
1,034,463
1,034,463
448,159
448,159
Current income tax liabilities
967
-
206
48
Deferred income tax liabilities
6,485
-
6,141
-
Other financial liabilities
42,418
39,917
43,812
39,245
Other non-financial liabilities
8,755
1,352
8,680
1,663
Total liabilities
5,255,572
5,239,305
4,136,056
4,124,053
EQUITY
Capital and reserves attributable to owners of the Bank
Share capital
189,196
189,196
192,269
192,269
Share premium
25,534
25,534
25,534
25,534
Treasury shares (-)
(4,967)
(4,967)
(8,375)
(8,375)
Reserve capital
756
756
756
756
Statutory reserve
76,133
76,000
60,903
60,805
Reserve for acquisition of own shares
20,000
20,000
20,000
20,000
Financial instruments revaluation reserve
(608)
(608)
(2,989)
(2,989)
Other equity
1,581
1,201
1,404
1,019
Retained earnings
296,761
297,610
297,003
297,985
Total equity
604,386
604,722
586,505
587,004
Total liabilities and equity
5,859,958
5,844,027
4,722,561
4,711,057
NOTE 28 FINANCIAL GROUP INFORMATION (CONTINUED) INCOME STATEMENT
31 December 2025
31 December 2024
Continuing operations
Fin. Group
Bank
Fin. Group
Bank
Interest income calculated using the effective interest method
223,075
203,759
243,291
227,237
Other similar income
21,568
21,567
24,955
24,953
Interest expense and similar charges
(107,972)
(108,006)
(110,002)
(110,146)
Net interest income
136,671
117,320
158,244
142,044
Fee and commission income
41,208
33,392
38,442
32,587
Fee and commission expense
(9,737)
(8,766)
(8,871)
(8,044)
Net fee and commission income
31,471
24,626
29,571
24,543
Insurance net gain from trading
-
-
-
-
Revenue related to insurance (incl. interests)
-
-
-
-
Expenses related to insurance activities
-
-
-
-
Net income (expenses) from Insurance activity
-
-
-
-
Net gain (loss) from derecognition of financial assets
3,760
3,800
544
779
Net gain from trading activities (exc. Insurance)
8,750
8,456
6,304
6,248
Other operating income
872
1,826
1,575
1,524
Total income
181,524
156,028
196,238
175,138
Salaries and related expenses
(54,255)
(49,197)
(48,844)
(43,840)
Depreciation and amortization expenses
(7,576)
(6,202)
(7,893)
(6,392)
Other operating expenses
(48,540)
(43,448)
(37,674)
(32,402)
Operating profit
71,153
57,181
101,827
92,504
Allowance for impairment losses on loans and other assets
(3,891)
(4,034)
(10,898)
(4,635)
Share of the profit or loss of investments in subsidiaries accounted for using the equity
6,193
17,748
5,429
7,227
method
Profit before income tax
73,455
70,895
96,358
95,096
Income tax expense
(12,803)
(10,411)
(17,608)
(15,810)
Net profit from continuing operations for the year
60,652
60,484
78,750
79,286
Profit (loss) from discontinued operations, net of tax
-
-
-
-
Net profit for the year
60,652
60,484
78,750
79,286
Net profit attributable to:
Owners of the Bank
60,652
60,484
78,750
79,286
From continuing operations
60,652
60,484
78,750
79,286
From discontinued operations
-
-
-
-
Non-controlling interest
-
-
-
-
STATEMENT OF COMPREHENSIVE INCOME
2025
2024
Fin. Group
Bank
Fin. Group
Bank
Profit for the year
60,652
60,484
78,750
79,286
Other comprehensive income (loss):
Items that may be subsequently reclassified to profit or loss:
Financial assets valuation gains (losses) taken to other comprehensive income
970
970
3,026
3,026
Financial assets valuation result transferred to profit or loss
-
-
20
20
Buildings revaluation reserve
1,550
1,550
-
-
Deferred income tax on gain (loss) from revaluation of financial asset
(139)
(139)
(609)
(609)
Items that may not be subsequently reclassified to profit or loss:
Fair value changes of financial liabilities at fair value through profit or loss attributable
to changes in their credit risk
-
-
-
-
Other comprehensive income (loss), net of deferred tax
2,381
2,381
2,437
2,437
Total comprehensive income
63,033
62,865
81,187
81,723
Total comprehensive income (loss) attributable to:
Owners of the Bank
63,033
62,865
81,187
81,723
Non-controlling interest
-
-
-
-
NOTE 28 FINANCIAL GROUP INFORMATION (CONTINUED) STATEMENT OF CASH FLOWS
31 December 2025
31 December 2024
Notes
Fin. Group
Bank
Fin. Group
Bank
Operating activities
Interest received on loans and advances
231,490
212,174
248,909
232,853
Interest received on securities at fair value through profit or loss
1,156
1,156
1,292
1,292
Interest paid
(89,077)
(89,112)
(103,744)
(104,419)
Fees and commissions received
41,208
33,392
38,442
32,587
Fees and commissions paid
(9,737)
(8,766)
(8,871)
(8,044)
Net cash inflows from trade in securities at fair value through profit or loss
4,038
3,743
7,172
7,116
Net inflows from foreign exchange operations
5,070
5,071
5,218
5,218
Net inflows from derecognition of financial assets
3,760
3,800
544
779
Net gain from disposal of tangible assets
-
-
593
141
Cash inflows related to other activities of Group companies and the Bank
872
1,826
983
1,384
Cash outflows related to other activities of Group companies
-
-
-
-
Recoveries on loans previously written off
215
133
285
161
Salaries and related payments to and on behalf of employees
(55,278)
(50,220)
(44,956)
(39,952)
Net operating other cost payment
(48,540)
(43,448)
(37,674)
(32,402)
Income tax paid
7
(12,803)
(10,411)
(23,581)
(22,442)
Net cash flow from operating activities before change in operating assets and liabilities
72,374
59,338
84,612
74,272
Change in operating assets and liabilities:
(Increase) decrease in loans to credit and financial institutions decrease
(5,914)
(5,914)
(108)
(108)
(Increase) decrease in loans to customers
(285,345)
(276,410)
(513,417)
(506,023)
Decrease (increase) in other assets
2,071
4,363
16,920
18,624
Increase (decrease) in amounts due to credit and Financial institutions
(33,845)
(34,097)
(487,134)
(491,139)
Increase (decrease) in due to customers (increase)
575,761
571,222
369,149
371,357
Increase (decrease) in other liabilities
(1,726)
732
(1,516)
1,088
Change
251,002
259,896
(616,106)
(606,201)
Net cash flow from operating activities
323,376
319,234
(531,494)
(531,929)
Investing activities
Acquisition of property, plant and equipment, investment property and intangible assets
(2,570)
(2,543)
(5,179)
(4,893)
Disposal of property, plant and equipment, investment property and intangible assets
594
574
207
187
Acquisition of debt securities at amortized cost
13
(1,140,422)
(1,140,422)
(316,044)
(316,044)
Sale or redemption of debt securities at amortized cost
13
516,410
516,410
335,131
335,131
Interest received on debt instruments at amortized cost
13
9,932
9,932
17,776
17,776
Acquisition and sale/redemption of securities at fair value
(209,990)
(210,728)
34,027
33,645
Interest and dividends received on investment securities at fair value
996
996
652
652
Net increase (decrease) in investments in subsidiaries
14
-
4,888
(170)
(170)
Net cash flow from (used in) investing activities
(825,050)
(820,893)
66,400
66,284
Financing activities
Acquisition of own shares
24
(6,840)
(6,840)
(8,375)
(8,375)
Payment of dividends
26
(39,719)
(39,719)
(32,159)
(32,159)
Interest payment for issued of debt securities
20
(30,122)
(30,122)
(13,387)
(13,387)
Issue of debt securities
20
597,307
597,307
375,000
375,000
Redemption of debt securities issued
20
(20,000)
(20,000)
(210,000)
(210,000)
Principal elements of lease payments
9
(1,709)
(1,709)
(2,038)
(2,038)
Net cash flow (used in) from financing activities
498,917
498,917
109,041
109,041
Net increase (decrease) in cash and cash equivalents
(2,757)
(2,742)
(356,053)
(356,604)
Cash and cash equivalents at beginning of period
387,680
386,365
743,733
742,969
Cash and cash equivalents at the end of period
9
384,923
383,623
387,680
386,365
NOTE 28 FINANCIAL GROUP INFORMATION (CONTINUED) FINANCIAL GROUP\u2018S STATEMENT OF CHANGES IN EQUITY
Reserve for
acquisition
Share
Treasury
Reserve
Revaluation
Statutory
of own
Other
Retained
Share capital
premium
shares
capital
reserve
reserve
shares
equity
earnings
Total
31 December 2023
192,269
25,534
(1,500)
756
(5,426)
47,681
20,000
1,603
263,566
544,483
Impact of change in accounting principles
-
-
-
-
-
-
-
-
-
-
1 January 2024
192,269
25,534
(1,500)
756
(5,426)
47,681
20,000
1,603
263,566
544,483
Transfer to statutory reserve
-
-
-
-
-
13,222
-
-
(13,222)
-
Transfer to reserve for acquisition of own
shares
-
-
-
-
-
-
-
-
-
-
Acquisition of own shares
-
-
(8,375)
-
-
-
-
-
(8,375)
Share-based payment
-
-
1,500
-
-
-
(199)
4
1,305
Payment of dividends
-
-
-
-
-
-
-
-
(32,095)
(32,095)
Total comprehensive income
-
-
-
-
2,437
-
-
-
78,750
81,187
Net profit
-
-
-
-
-
-
-
-
78,750
78,750
Other comprehensive income
-
-
-
-
2,437
-
-
-
-
2,437
31 December 2024
192,269
25,534
(8,375)
756
(2,989)
60,903
20,000
1,404
297,003
586,505
Transfer to statutory reserve
-
-
-
-
-
15,230
-
-
(15,230)
-
Transfer to reserve for acquisition of own
shares
(3,073)
-
8,941
-
-
-
-
-
(5,868)
-
Acquisition of own shares
-
-
(6,840)
-
-
-
-
-
-
(6,840)
Share-based payment
-
-
1,307
-
-
-
-
177
-
1,484
Payment of dividends
-
-
-
-
-
-
-
-
(39,796)
(39,796)
Total comprehensive income
-
-
-
-
2,381
-
-
-
60,652
63,033
Net profit
-
-
-
-
-
-
-
-
60,652
60,652
Other comprehensive income
-
-
-
-
2,381
-
-
-
-
2,381
31 December 2025
189,196
25,534
(4,967)
756
(608)
76,133
20,000
1,581
296,761
604,386
COMPLIANCE WITH PRUDENTIAL REQUIREMENTS During the years ended 31 December 2024 and 31 December 2025, the Financial group and the Bank complied with prudential requirements to which it was subject", "dimensions": { "concept": "ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-28": { "value": "NOTE 29 STATEMENTS OF FINANCIAL POSITION AND INCOME STATEMENT RESTATED Changes in presentation of the statement of financial position During the year ended 31 December 2025, the Group reviewed the presentation of certain line items in the statement of financial position to ensure consistency with the nature of the underlying balances and to align with prevailing market practice. Accordingly, the line item and related disclosure previously presented as \u201cFinance lease receivables\u201d has been removed and reclassified to \u201cLoans to customers\u201d, as these balances represent credit exposures that are managed together with other customer lending products. In addition, the line item \u201cSpecial and lending funds\u201d has been removed and reclassified to \u201cDue to customers\u201d, as these balances represent customer funding in substance and are managed and monitored together with other customer deposit balances. In order to align the segmentation of liabilities in the financial statements with the prudential requirements applicable to the Bank and the segmentation of liabilities disclosed in the reported prudential reports, the financial statements were reclassified, eliminating the Special and Lending Funds (EUR 23,037 thousand) line and transferring its amount to due to customers. In addition, the due to customers amount related to banks and financial institutions (EUR 163,964 thousand) was reclassified to the corresponding liability item. These changes represent presentation reclassifications only and did not impact total assets, total liabilities, equity, or profit for the year.
31 December 2024 (restated)
31 December 2024
Variance
ASSETS
Group
Bank
Group
Bank
Group
Bank
Cash and cash equivalents
395,136
386,365
395,136
386,365
-
-
Securities in the trading book
235,110
13,543
235,110
13,543
-
-
Due from other banks
3,121
3,121
3,121
3,121
-
-
Derivative financial instruments
1,093
1,093
1,093
1,093
-
-
Loans to customers
3,434,597
3,421,904
3,117,700
3,105,007
316,897
316,897
Finance lease receivables
-
-
316,897
316,897
(316,897)
(316,897)
Investment securities at fair value
43,868
43,620
43,868
43,620
-
-
Investment securities at amortized cost
726,937
716,864
726,937
716,864
-
-
Investments in subsidiaries and
associates
270
84,069
270
84,069
-
-
Intangible assets
43,617
7,859
43,617
7,859
-
-
Property, plant and equipment
15,261
14,689
15,261
14,689
-
-
Investment property
-
-
-
-
-
-
Current income tax prepayment
82
-
82
-
-
-
Deferred income tax asset
6,076
2,716
6,076
2,716
-
-
Other financial assets
7,258
6,559
7,258
6,559
-
-
Other non-financial assets
10,193
8,655
10,043
8,505
150
150
Assets classified as held for sale
-
-
150
150
(150)
(150)
Total assets
4,922,619
4,711,057
4,922,619
4,711,057
-
-
LIABILITIES
Due to other banks and financial
229,824
232,451
65,860
68,487
163,964
163,964
institutions
Derivative financial instruments
123
123
123
123
-
-
Due to customers
3,397,045
3,402,364
3,537,972
3,543,291
(140,927)
(140,927)
Special and lending funds
-
-
23,037
23,037
(23,037)
(23,037)
Debt securities in issue
448,159
448,159
448,159
448,159
-
-
Current income tax liabilities
303
48
303
48
-
-
Deferred income tax liabilities
6,141
-
6,141
-
-
-
Liabilities related to insurance activities
198,432
-
198,432
-
-
-
Other financial liabilities
46,426
39,245
46,426
39,245
-
-
Other non-financial liabilities
10,994
1,663
10,994
1,663
-
-
Total liabilities
4,337,447
4,124,053
4,337,447
4,124,053
-
-
EQUITY
Share capital
192,269
192,269
192,269
192,269
-
-
Share premium
25,534
25,534
25,534
25,534
-
-
Treasury shares (-)
(8,375)
(8,375)
(8,375)
(8,375)
-
-
Reserve capital
756
756
756
756
-
-
Statutory reserve
61,025
60,805
61,025
60,805
-
-
Financial instruments and PPE
(2,989)
(2,989)
(2,989)
(2,989)
-
-
revaluation reserve
Reserve for acquisition of own shares
20,000
20,000
20,000
20,000
-
-
Other equity
1,480
1,019
1,480
1,019
-
-
Retained earnings
295,472
297,985
295,472
297,985
-
-
Non-controlling interest
-
-
-
-
-
-
Total equity
585,172
587,004
585,172
587,004
-
-
Total liabilities and equity
4,922,619
4,711,057
4,922,619
4,711,057
-
-
NOTE 29 STATEMENTS OF FINANCIAL POSITION AND INCOME STATEMENT RESTATED (CONTINUED) Changes in presentation of the statement of profit or loss and other comprehensive income During the year ended 31 December 2025, the Group reassessed the presentation of its statement of profit or loss to ensure that income and expenses are presented in a manner that provides relevant and reliable information to users of the financial statements, in accordance with IAS 1 Presentation of Financial Statements. As a result, certain income and expense line items related to insurance activity were reclassified and presented separately within the statement of profit or loss. The change was made to provide a more faithful representation of the nature of the Group\u2019s operations and to improve comparability with market practice. In order to align the presentation of financial statements with the FINREP reporting structure and to enhance data comparability, transparency, and clarity for users, certain line items have been retrospectively regrouped in financial position statement. Deposits received from financial institutions are now presented under \u201cDue to other banks and financial institutions\u201d, while all other deposits are included under \u201cDeposits from clients\u201d.The table below presents comparative figures before and after this regrouping Comparative figures for the year ended 31 December 2024 have been restated accordingly. The change represents a presentation reclassification only and did not affect total profit for the year, total equity, or cash flows.
31 December 2024 (restated)
31 December 2024
Variance
Continuing operations
Group
Bank
Group
Bank
Group
Bank
Interest income calculated using the effective interest method
243,478
227,237
243,478
227,237
-
-
Other similar income
26,735
24,953
26,735
24,953
-
-
Interest expense and similar charges
(110,004)
(110,146)
(110,004)
(110,146)
-
-
Net interest income
160,209
142,044
160,209
142,044
-
-
Fee and commission income
38,021
32,587
38,021
32,587
-
-
Fee and commission expense
(8,941)
(8,044)
(8,941)
(8,044)
-
-
Net fee and commission income
29,080
24,543
29,080
24,543
-
-
Net gain from trading activities
-
-
19,422
6,248
(19,422)
(6,248)
Insurance net gain from trading
13,119
-
-
-
13,119
-
Revenue related to insurance (incl. interests)
13,090
-
13,090
-
-
-
Expenses related to insurance activities
(20,747)
-
(20,747)
-
-
-
Net income (expenses) from Insurance activity
5,462
-
11,765
6,248
(6,303)
(6,248)
Net gain (loss) from derecognition of financial assets
544
778
778
544
-
-
Net gain from trading activities (exc. Insurance)
6,303
6,248
-
-
6,303
6,248
Net gain (loss) from disposal of tangible assets
-
-
141
593
(593)
(141)
Other operating income
1,368
1,525
1,384
775
593
141
Net income
202,966
175,138
202,966
175,138
-
-
Salaries and related expense
(49,507)
(43,840)
(49,507)
(43,840)
-
-
Depreciation and amortization expenses
(8,006)
(6,392)
(8,006)
(6,392)
-
-
Other operating expenses
(38,111)
(32,402)
(38,111)
(32,402)
-
-
Operating profit before impairment losses
107,342
92,504
107,342
92,504
-
-
Allowance for impairment losses on loans and other assets
(10,896)
(4,635)
(10,896)
(4,635)
-
-
Share of the profit or loss of investments in subsidiaries accounted for
using the
equity method
7,227
-
7,227
-
-
-
Profit before income tax
96,446
95,096
96,446
95,096
-
-
Income tax expense
(17,659)
(15,810)
(17,659)
(15,810)
-
-
Net profit from continuing operations for the year
78,787
79,286
78,787
79,286
-
-
Profit (loss) from discontinued operations, net of tax
-
-
-
-
-
-
Net profit for the year
78,787
79,286
78,787
79,286
-
-
Net profit attributable to:
Owners of the Bank
78,787
79,286
78,787
79,286
-
-
From continuing operations
78,787
79,286
78,787
79,286
-
-
From discontinued operations
-
-
-
-
-
-
Non-controlling interest
-
-
-
-
-
-
Basic earnings per share (in EUR per share) attributable to owners of
the Bank
0.12
0.12
-
From continuing operations
0.12
0.12
-
From discontinued operations
-
-
-
Diluted earnings per share (in EUR per share) attributable to owners of
the Bank
0.12
0.12
-
From continuing operations
0.12
0.12
-
From discontinued operations
-
-
-
NOTE 29 STATEMENTS OF FINANCIAL POSITION AND INCOME STATEMENT RESTATED (CONTINUED) THE GROUP\u2019S AND THE BANK\u2019S STATEMENTS OF CASH FLOWS RESTATED FOR 2024:
2024 (restated)
2024
Variance
Group
Bank
Group
Bank
Group
Bank
Operating activities
Interest received on loans and advances
253,459
232,853
230,501
209,897
22,958
22,956
Interest received on finance lease
-
-
22,958
22,956
(22,958)
(22,956)
Interest received on securities at fair value through
profit or loss
1,470
1,292
1,470
1,292
-
-
Interest paid
(103,746)
(104,419)
(103,746)
(104,419)
-
-
Fees and commissions received
38,021
32,587
38,021
32,587
-
-
Fees and commissions paid
(8,941)
(8,044)
(8,941)
(8,044)
-
-
Net cash inflows from trade in securities at fair value
through profit or loss
2,667
7,116
2,667
7,116
-
-
Net inflows from foreign exchange operations
5,236
5,218
5,236
5,218
-
-
Net inflows from derecognition of financial assets
544
779
544
779
-
-
Net gain from disposal of tangible assets
593
141
593
141
-
-
Cash inflows related to other activities of Group
13,865
1,384
13,865
1,384
-
-
companies and the Bank
Cash outflows related to other activities of Group
(20,747)
-
(20,747)
-
-
-
companies and the Bank
Recoveries on loans previously written off
285
161
285
161
-
-
Salaries and related payments to and on behalf of
employees
(45,619)
(39,952)
(45,619)
(39,952)
-
-
Net operating other cost payment
(38,111)
(32,402)
(38,111)
(32,402)
-
-
Income tax paid
(22,442)
(22,442)
(22,442)
(22,442)
-
-
Net cash flow from operating activities before
change in operating assets and liabilities
76,534
74,272
76,534
74,272
-
-
Change in operating assets and liabilities:
Decrease (Increase) in loans to credit and financial
(108)
(108)
(108)
(108)
-
-
institutions
Decrease (Increase) in loans to customers
(510,033)
(506,023)
(479,621)
(475,529)
(30,412)
(30,494)
Decrease (increase) in finance lease receivable
-
-
(30,412)
(30,494)
30,412
30,494
Decrease (increase) in other assets
16,114
18,624
-
-
16,114
18,624
Decrease (increase) in other financial assets
-
-
93
1,730
(93)
(1,730)
Decrease (increase) in other non financial assets
-
-
16,021
16,894
(16,021)
(16,894)
Increase (decrease) in amounts due to credit and
Financial institutions
(487,444)
(491,139)
(487,444)
(491,139)
-
-
Increase (decrease) in due to customers
370,289
371,357
362,970
364,038
7,319
7,319
Increase (decrease) in special and lending funds
-
-
7,319
7,319
(7,319)
(7,319)
Increase (decrease) in other liabilities
4,958
1,088
-
-
4,958
1,088
Decrease (increase) in other financial liabilities
-
-
6,176
4,743
(6,176)
(4,743)
Decrease (increase) in other non-financial liabilities
-
-
(1,218)
(3,655)
1,218
3,655
Change
(606,224)
(606,201)
(606,224)
(606,201)
-
-
Net cash flow from operating activities
(529,690)
(531,929)
(529,690)
(531,929)
-
-
Investing activities
Acquisition of property plant and equipment investment
(5,457)
(4,893)
(5,457)
(4,893)
-
-
property and intangible assets
Disposal of property plant and equipment investment
576
187
576
187
-
-
property and intangible assets
Acquisition of debt securities at amortized cost
(438,515)
(316,044)
(438,515)
(316,044)
-
-
Sale or redemption of debt securities at amortized cost
452,745
335,131
452,745
335,131
-
-
Interest received on debt instruments at amortized cost
19,620
17,776
19,620
17,776
-
-
Dividends received
-
-
204
13
(204)
(13)
Acquisition and sale or redemption of securities at fair
value
33,645
33,645
33,645
33,645
-
-
Received dividends and interest on investment
843
652
-
-
843
652
securities at fair value
Interest received on available-for-sale securities
-
-
639
639
(639)
(639)
Net increase (decrease) in investments in subsidiaries
(170)
(170)
-
-
Establishment of subsidiaries
-
-
(100)
(100)
Increase in share capital of subsidiaries in cash
-
-
(70)
(70)
Net cash flow (used in) from investing activities
63,287
66,284
63,287
66,284
-
-
Financing activities
Acquisition of own shares
(8,375)
(8,375)
(8,375)
(8,375)
-
-
Payment of dividends
(32,159)
(32,159)
(32,159)
(32,159)
-
-
Interest payment for issued of debt securities
(13,387)
(13,387)
(13,387)
(13,387)
-
-
Issue of debt securities
375,000
375,000
375,000
375,000
-
-
Redemption of debt securities issued
(210,000)
(210,000)
(210,000)
(210,000)
-
-
Principal elements of lease payments
(1,039)
(2,038)
(1,039)
(2,038)
-
-
Net cash flow (used in) financing activities
110,040
109,041
110,040
109,041
-
-
Net increase (decrease) in cash and cash
(356,363)
(356,604)
(356,363)
(356,604)
-
-
equivalents
Cash and cash equivalents at 1 January
751,499
742,969
751,499
742,969
-
-
Cash and cash equivalents at 30 September
395,136
386,365
395,136
386,365
-
-
", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fact-29": { "value": "NOTE 30 EVENTS AFTER BALANCE SHEET DATE On January 23, 2026, Group completed the buyback program of its own shares (ISIN code LT0000102253) on the regulated market, which had been ongoing since December 1, 2025. During this period, the Bank purchased 2,787 thousand of its own shares for EUR 2,598 thousand , paying an average price of EUR 0.93 per share.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:549300TK038P6EV4YU51", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }