OMX spotlight. Ukio Bankas(UKB1L) – as little as 1.60 dollar investment

Most of you have possibly heard about Nasdaq’s acquisition of Nordic stock exchange operator OMX AB for agreed sum of $3.67 billion.

This opened doors for Nasdaq traders to make deals not only in the Nordic stock exchange, but in Baltic stock exchange as well.

Hotstocked.com made own choice and will introduce you the first penny stock of the OMX stock exchange market.
Perhaps, most of you haven’t heard anything about Ukio Bankas, a Lithuanian bank. Owned by Lithuanian businessman Vladimir Romanov, Ukio bankas is making its way to the elite with the current price per share $1.60 only.

Ukio Bankas bank is the fifth largest and oldest private bank in Lithuania and step by step gaining a name in the Europe. Now Ukio Bankas is planning to branch out in Edinburgh, Scotland.
In the first quarter of 2007, Ukio bankas group earned consolidated unaudited net profit of $4.5 million – that’s 44 percent more than in the same period in 2006, when the company made only $3.1 million of consolidated unaudited net profit.

Chairwoman of Ukio bankas, Edita Karpaviciene, said that the growth of the profit of the bank and the group during the first quarter was caused by increased volume of the assets and growth in number of customers.

Assets of AB Ukio bankas group increased by $219 million, or 18 percent during the first quarter of 2007 and made $1.46 billion at 31 March 2007.


However, liabilities have increased by $193.050 accordingly to the Ukio Bankas Group and Ukio Bankas and by the first quarter of 2007 it is $1 311 137 for the Ukio Group and $1 274 704 for the Ukio bankas.
Diluted earnings per share increased $0.007 since 2006 31 March. We estimate that for 2007 for the first quarter earning per share could be $0.038 and by 2008 first quarter it could $0.046.



In our assumptions for the future, the growth of Ukio bankas will slow down.


You can download Ukio Bankas 1st quarter Report for 2007 - HERE

Share price in Lithuanian currency – Litas (LTL) 1$=2.59LTL

References:

http://www.en.wikipedia.org/wiki/Ūkio_bankas
http://www.ub.lt/