Artea Bank cuts profit outlook as impairment losses rise

Lithuania’s Artea Bank is lowering its 2026 profit forecast after reporting a 42% decline in net profit for the first nine months of the year.

The banking group earned €27.9 million in January–September, compared with €48.4 million a year earlier. Total impairment losses rose to €18.6 million from €3.2 million, while restructuring costs also weighed on earnings.

During a results presentation on 29 October, acting CEO Tomas Varenbergas said the bank expected to recognise approximately €10 million in additional provisions in the fourth quarter. The previously announced full-year profit target of €61 million will therefore be revised downwards.

Artea’s loan portfolio nevertheless grew by 8% since the beginning of the year to €4.02 billion, while customer deposits increased by 10% to €4.35 billion.

Sources: Artea Bank / Nasdaq Baltic; LRT — management presentation