SEB — Interim / Quarterly Report 2013

Feb 28, 2014

AB SEB bankas condensed interim financial information for the 12 months period ended 31 December 2013

AB SEB BANKAS

CONDENSED INTERIM INFORMATION FOR THE YEAR 2013

TABLE OF CONTENTS

• 1. CONFIRMATION OF RESPONSIBLE PERSONS REGARDING INTERIM TWELVE-MONTH CONSOLIDATED FINANCIAL REPORTING
• 1. CONDENSED INTERIM FINANCIAL INFORMATION FOR THE 12 MONTH PERIOD ENDED DECEMBER 2013

AB SEB bankas Gedimino ave. 12 LT-01103 Vilnius

CONFIRMATION OF RESPONSIBLE PERSONS

Abiding by Article 22 of the Law of the Republic of Lithuania on Securities as well as by the rules approved by the board of the bank of the Republic of Lithuania for the preparation and submitting of periodic and supplementary information, we hereby confirm that, in accordance with our knowledge, the information provided in the 12 month condensed interim consolidated financial reporting, that has been prepared in accordance with the International Financial Reporting Standards, is true and correctly reflects the issuer's and the consolidated companies' total assets, liabilities, financial standing, profit or loss and cash flows.

President of AB SEB bankas	Raimondas Kvedaras
Head of Business Support Division and CFO of SEB bankas	Jonas Iržikevičius
Director of Finance Department of AB SEB bankas	Saulius Salda
Vilnius, February 2014

GENERAL INFORMATION

1. Reporting period

The report has been produced for the 12 months period ended 31 December 2013.

2. The issuer's key data

Issuer's name AB SEB bankas Share capital LTL 1,034,575,341 Telephone (8 5) 2682 800 Fax (8 5) 2682 333 E-mail info@seb.lt Legal organisational form Public limited company Company's code 112021238 Company's registration number AB90-4 Website www.seb.lt

Domicile address Gedimino ave.12, LT-01103 Vilnius Registration date and place 29 November 1990, Bank of Lithuania

CONDENSED INTERIM INCOME STATEMENT FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

		The Group				The Bank
January 1- December 31. 2013	The fourth quarter 2013	January 1- December 31. 2012	The fourth quarter 2012		January 1- December 31. 2013	The fourth quarter 2013	January 1- December 31. 2012	The fourth quarter 2012
470.985	115,159	623.735		129.196 Interest income	470.505	115,040	623.745	129,076
(182.245)	(42.624)	(335,802)		(62,714) Interest expenses	(182, 262)	(42.631)	(335, 879)	(62, 719)
288.740	72,535	287,933		66.482 Net Interest Income	288,243	72,409	287,866	66,357
(80, 673)	(62.830)	(55,031)		(20.331) Impairment loss on loans	(80,673)	(62.830)	(55,031)
33.415	38,155	27,412		4,604 Impairment reversals on lease portfolio	33.415	38,155		(20, 331)
				Provisions for guarantees and other off balance sheet			27,412	4,604
4,567	1.682	2,380	(2.134) items		4.567	1.682	2.380	(2, 134)
(42,691)	(22, 993)	(25, 239)		(17,861) Total impairment loss	(42, 591)	(22,993)	(25, 239)	(17, 861)
246,049	49.542	262.694	48.621	Net interest income after impairment loss	245.552	49,416	262.627	48.496
264,799	68.593	251,454		68.574 Fee and commissions income	251,658	65.062	238,579	65.150
(67, 653)	(17, 471)	(66.806)		(17,446) Fee and commissions expenses	(66.655)	(17,283)	(66, 271)	(17,291)
197,146	51.122	184,548	51.128	Net fee and commission income	184,801	47,779	172,308	47,859
				Net gain (loss) on operations with debt securities
23.406	15.203	(7.152)	609	and derivative financial instruments	23.183	15.203	(7,031)	730
(1,073)	(433)	(859)		(105) Net loss on investment securities	(1.073)	(433)	(B59)	(103)
				Dividend income from subsidiaries	7,351		8.344
71.303	17.925	67.833		14,925 Net foreign exchange gain	71,357	17,943	67,836	14.936
6.171	2.010	6,492		1,609 Other Income, net	6.666	2.133	7.197	1,785
99,807	34,705	66.314		17,038 Net investment activities	107,484	34,846	75,487	17,348
(129.141)	(33.745)	(141.720)		(35,089) Staff costs	(126.813)	(33.302)	(139, 477)	(34.414)
(170, 332)	(56,141)	(264.563)		(131,772) Other administrative expenses	(168.679)	(55, 738)	(263,083)	(131, 333)
243,529	45,483	107,373		(50,074) Operating profit (loss)	242,145	43,001	107,862	(52,094)
243.529	45.483	107.373		(50,074) Profit (loss) before income tax	242,145	43,001	107,862	(52,094)
(31.220)	(629)	(22,514)		(2.116) Income tax expenses	(29, 834)	(272)	(20, 285)	(770)
212.309	44.854	84,859		(52.190) Net profit (loss) for the period	212,311 ISTS TODAY	42.729	87,577	(52, 364)
212.309	44.854	84,859		Attributable to: (52.190) Owners of the bank	212.311	42,729	87.577	(52, 864)
				Non controlling interest

land S R. Kvedaras President

J. Vikevičius
Head of Busingss Support Division, CFO

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

The Group			The Bank
2013	2012		2013	2012
212,309		84,859 Net profit for the year Items that may subsequently be reclassified to the income statement:	212,311	87,577
1,565		5,184 Net gain (loss) on available for sale assets Amortisation of financial assets revaluation reserve	1,565	5.184
256	1.450	of reclassified financial assets income tax relating to the components of other	256	1.450
(273)	(995) $\overline{\phantom{0}}$	comprehensive income Items that will not be reclassified to the income statement:	(273)	(995)
1,548	5.639	Total other comprehensive income	1,548	$\bullet$ 5,639
213,857		90,498 Total comprehensive income	213,859	93,216
		Attributable to:
213,857	90.498	Owners of the Bank Non-controlling interest	213,859	93.216
213,857	90,498		213,859	93,216

Nodasas R. Kvedaras President

Head of Business Support Division, CFO

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2013
(All amounts in LTL thousands unless otherwise stated)

The Group		The Bank
2013 2012	Assets	2013	2012
418,136 443.393	Cash on hand
935,323 1,002,933	Balances with the Central Bank	418,136	443.393
3,691,046 2,666,929	Due from banks	935,323	1,002,933
59,895 60,900	Government securities available for sale	3,691,046	2,666.929
	Financial assets at fair value through	59,228	60,234
953,982 651,603	profit and loss
259,288 326,230	Derivative financial instruments	909,613 259,288	608,544
86,077 6,242	Loans to creditinstitutions	86,077	326,230
15,164,544 15,630,514	Loans to customers	15,191,785	6,242 15,656,472
1,428,253 1,502,759	Finance lease receivables	1,428,394	1,502,919
	investment securities:
191,126 386,010	- loans and receivables	191,126	386,010
200 200	- available for sale	200	200
13,302 13,812	- held to maturity	13,302	13,812
	investments in subsidiaries	34,900	34,900
48,239 58,260	intangible fixed assets	48,239	58,260
24,643 22,645	Property, plant and equipment	24,469	22,451
375	Assets under operating lease		375
3,924 23,686	Non-current assets held for sale	3,924	23,686
14,047 14,232	investment property	14,047	14,232
167,633 197,753	Deferred tax asset	167,600	197,706
131,288 113,842	Other assets	130,295	112,083
23,590,946 23,122,318	Total assets	23,606,992	23,137,611
	Liabilities
33 37	Due to the Central Bank	33	37
7,177,824 6,789,296	Due to credit institutions	7,177,824	6,789,296
270,943 380,892	Derivative financial instruments	270,943	380,892
13,224,857 12,797,100	Deposits from public	13,245,685	12,816,617
51,822 61,181 2,135	Accrued expenses and deferred income	50,778	59,964
1,316 117,556 561,016	income tax payable Debt securities in issue
144,249 145,409	Other liabilities and provisions	117,556	561,016
20,989,419 20,736,247	Total liabilities	143,996 21,006,815	145,070 20,752,892
	Equity
	Equity attributable to owners of the Bank
	Share capital	1,034,575	1,034,575
1,034,575 1,034,575		2,200	2,200
2,200 2,200	Reserve capital
(2,550) (4,098)	Financial assets revaluation reserve	(2,550)	(4,098)
289,202 239.612	Legal reserve	287,327	237,737
15,731 14,132	General and other reserves	15,731	14,132
1,262,369 1,099,650	Retained earnings	1,262,894	1,100,173
2,601,527 2,386,071		2,600,177	2,384,719
	Non controlling interest in equity
2,601,527 2,386,071	Total equity	2,600,177	2,384,719

$\leq$ V wa R. Kvedaras
President

Head of Business Support Division, CFO

$\overline{\mathbf{5}}$

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013
(All amounts in LTL thousands unless otherwise stated)

Equity attributable to owners of the Bank

	Share	Reserve	Financial assets revaluation		General and		noncontroling Total before	controling ទី
The Group	capital	capital	reserve (deficit)	Legal reserve		other reserves Retained earnings	Interest	Interest	Total Equity
31 December 2011	4,575 red 1	2,200	(9,737)	194,708	12,497	1,096,516	2,330,759		2,330,759
Impairment of homogenious loans						(9.599)	(9,599)		(9,599)
Adjusted balance as of 31 December 2011	53 1,034	2,200	(9,737)	194,708	12,497	1,086,917	2,321,160		2,321,160
Net change in available for sale investments, net of deferred tax			4,189				4,189		4,189
Amortisation of financial assets revaluation reserve of reclassified financial assets			1,450			$\cdot$	1,450		1,450
Net profit for the year			$\cdot$	ı		84,859	84,859		84,859
Total comprehensive income			5,639			84,859	90,498		90,498
Share-based compensation Other movements				Ē	٠	Ħ
Transfers to reserves				45,615	1,635 $\blacksquare$	(45, 615)	1,635		1,635
31 December 2012	1,034,575	2,200	(4,098)	239,612	14,132	1,126,872	2,413,293		2,413,293
Change in fair value measurement of financial assets						(27,222)	(27,222)		(27,222)
Adjusted balance as of 31 December 2012	1,034,575	2,200	(4,098)	239,612	14,132	1,099,650	2,386,071		2,386,071
Net change in available for sale investments,
Amortisation of financial assets revaluation net of deferred tax			1,292				1292		1,292
reserve of reclassified financial assets			256				256		256
Net profit for the year			$\ddot{\phantom{0}}$			212,309	212,309		212,309
Total comprehensive income	۶		1,548			212,309	213,857		213,857
Other movements							,
Share-based compensation					. 1.599		1,599		1,599 ı
Transfers to reserves				49,590		(49,590)			$\blacksquare$
31 December 2013	1,034,575	2,200	(2,550)	289,202	15,731	1,262,369	2,601,527		2,601,527

.
C R. Kvedaras
President

Head of pilsiness Support Division, CFO

o

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013
(All amounts in LTL thousands unless otherwise stated)

			Financial assets
The Bank	capital Share		Reserve capital reserve (deficit) revaluation	Legal reserve	General and	other reserves Retained earnings	Total Equity
31 December 2011	1,034,575	2,200	(9,737)	192,184	12,497	1,094,970	2,326,689
Impairment of homogenious loans		$\bullet$				(9,599)	(9,599)
Adjusted balance as of 31 December 2011	1,034,575	2,200	(9,737)	192,184	12,497	1,085,371	2,317,090
Net change in available for sale investments,
Amortisation of financial assets revaluation net of deferred tax			4,189				4,189
reserve of reclassified financial assets			1,450				1,450
Net profit for the year						87,577	87,577
Total comprehensive income			5,639			87,577	93,216
Share-based compensation					1,635		1,635
Transfers to reserves			1	45,553	$\cdot$	(45,553)
31 December 2012	1,034,575	2,200	(4,098)	237,737	14,132	1,127,395	2,411,941
Change in fair value measurement of financial assets	$\bullet$	ı	$\bullet$	,	$\bullet$	(27,222)	(27,222)
Adjusted balance as of 31 December 2012	1,034,575	2,200	(4,098)	237,737	14,132	1,100,173	2,384,719
Net change in available for sale investments,
Amortisation of financial assets revaluation net of deferred tax			1292				1,292
reserve of reclassified financial assets			256				256
Net profit for the year						212,311	212,311
Total comprehensive income			1,548	$\bullet$		212,311	213,859
Share-based compensation					1,599		1,599
Transfers to reserves				49,590		(49,590)

R. Kvedaras
President

Head of Busings's Support Division, CFO

$2,600,177$

1,262,894

15,731

287,327

$(2,550)$

2,200

1,034,575

31 December 2013

N

CONDENSED INTERIM STATEMENT OF CASH FLOWS FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

The Group			The Bank
January 1 - December 31, 2013	January 1 - December 31, 2012		January 1 - December 31, 2013	January 1 - December 31, 2012
244,840	212.929	Net cash from operating activities before change in operating assets	237,492	206.371
(2,209,594)	2,575,796	Net decrease (Increase) in operating assets	(2,211,238)	2,577,745
445.297	(348.826)	Net (decrease) increase in operating liabilities	445,774	(353, 931)
(1,519,457)	2,439,899	Net cash from (to) operating activities	(1,527,972)	2,430,185
(1,519,457)	2,439,899	Net cash from (to) operating activities after income tax	(1,527,972)	2,430,185
(99, 388)	663,650	Cash (used) received from in investing activities	(90, 873)	673,362
(45,054)	(3, 381, 177)	Cash (used in) received from financing activities	(45,054)	(3, 381, 175)
(1,663,899)	(277.628)	Net (decrease) increase in cash	(1,663,899)	(277, 628)
3,118,790	3,396,418	Cash at the beginning of the period	3,118,790	3,396,418
1,454,891	3,118,790	Cash at the end of the period	1,454,891	3,118,790
		Specified as follows:
448,769	424,169	Balance available for withdrawai with the Central Banks	448,769	424.169
385.235	42,550	Overnight deposits	385.235	42,550
418.136	443.393	Cash on hand	418,136	443,393
202.751	2.208.678	Current accounts with other banks	202,751	2,208,678
1,454,891	3,118,790		1,454,891	3,118,790

redrons R. Kvedaras
President

Example 15
Head of Business Support Division, CFO

(All amounts in LTL thousands unless otherwise stated)

NOTE 1 GENERAL INFORMATION

AB SEB bankas (hereinafter - the Bank) was registered as a public company in the Enterprise Register of the Republic of Lithuania on 2 March 1990. 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 Statutes of the Bank.

The Head Office of the Bank is located at Gedimino ave. 12, Vilnius. At the end of the reporting period the Bank had 46 customer service units.

At the end of the reporting period AB SEB bankas had 2 subsidiaries (the Bank and its subsidiaries thereafter are referred to as the Group). The subsidiaries are as follows: "UAB SEB Venture Capital" is a fully owned subsidiary involved in venture capital activities; UAB "SEB Investicijų Valdymas" is a fully owned subsidiary engaged in provision of investments' management services activities.

On 23rd of November 2013 AB "SEB lizingas" , a fully owned subsidiary, has been merged into AB SEB bankas. On 28th of November AB "SEB lizingas"terminated its activities as a legal person.

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 investing and trading in securities as well as performs other activities set in the Law on Banks (except for operations with precious metals).

At the end of the reporting period the shareholder of the Bank is Skandinaviska Enskilda Banken AB (publ), owning 100 percent of the Bank's shares.

NOTE 2 BASIS OF PRESENTATION

This interim financial information is presented in national currency of Lithuania, Litas (LTL). The books and records of the Bank and other Group companies are maintained in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the European Union (EU). This interim financial report has been prepared in accordance with International Accounting Standard 34.

The accounting policies adopted and methods of computation used are consistent with those of the annual financial statements for the year ended 31 December 2012, as described in the annual financial statements for the year ended 31 December 2012.

The financial statements are prepared under the historical cost convention as modified by the revaluation of available for-sale financial assets, financial assets and liabilities held at fair value through profit and loss and all derivative contracts.

The preparation of financial statements in conformity with IFRS requires 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's best knowledge of current event and actions, actual results ultimately may differ from those estimates.

In November 2013 AB "SEB lizingas" was merged with AB SEB bankas therefore AB SEB bankas results of the year 2012 are presented including the result of AB "SEB lizingas".

NOTE 3 SEGMENT REPORTING

Operating segments are reported in a manner consistent with the internal reporting provided to the Board of Directors of the Bank. The Board of Directors is responsible for resources allocation and performance assessment of the operating segments and has been identified as the chief operating decision maker.

All transactions between business segments are conducted on an arm's length basis, with intra-segment revenue and costs being eliminated. Income and expenses directly associated with each segment are included in determining business segment performance.

For management and reporting purposes, the Group is organised into the following business groupings:

Baltic Division has overall responsibility for providing retail services to the all types of companies and individuals. Baltic division offers it's clients solutions in the areas of:

• Lending;
• Leasing and factoring products;
• Liquidity management and payment services;
• Private Banking which serves the higher end of the private individual segment with wealth management services and advisory services.

All depreciation and amortization expenses (except for Asset Management) are attributed to this segment.

The Merchant Banking division has overall responsibility for servicing large and medium-sized companies, financial institutions, banks, and commercial real estate clients. Merchant Banking offers its clients integrated investment and corporate banking solutions, including the investment banking activities. Merchant Banking's main areas of activity include:

• Lending and debt capital markets;
• Trading in equities, currencies, fixed income, derivatives and futures;
• Advisory services, brokerage, research and trading strategies within equity, fixed income and foreign exchange markets;
• Cash management;
• Custody and fund services;
• Venture capital.

The Asset Management division main business area is Institutional Clients division – which provides asset management services to institutions, foundations and life insurance companies and is responsible for the investment management, marketing and sales of SEB's mutual funds.

(All amounts in LTL thousands unless otherwise stated)

The division offers a full spectrum of asset management and advisory services and its product range includes equity and fixed income, private equity, real estate and hedge fund management.

The Treasury division is overall responsible for cash management, liquidity management and internal financing between the Group divisions.

NOTE 3 SEGMENT REPORTING (CONTINUED)

Operations and IT divisions are the Group's internal segments responsible for providing operations support and processing, as well as information technologies services for all Group's divisions In addition, Operations divisions handles bookings, confirmations, payments and reconciliations, and customer service and support.

Staff Functions division have dedicated responsibilities in order to support the business units within own area of expertise: HR, finance, marketing and communication, credits and risk control, security, procurement and real estate, compliance, internal audit.

The geographical segments are not defined by the Group. All activities of the Group are performed on the territory of Republic of Lithuania. Revenues and expenses related to major non resident customers services is immaterial for the purpose of these financial statements and are not presented to the chief operating decision maker.

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

NOTE 3 SEGMENT REPORTING (CONTINUED)

Business segments of the Group for the period ended 31 December 2013 were as follows:

	ltic Ba	rch Me ant	As set			ff Sta	Inf ati orm on
	Div isio n	Ba nk ing	Ma ent nag em	Tre asu ry	Op tio era ns	Fun cti on s	Te chn olo ies g	Elim ina tio ns	To tal Gr ou p
Inte t in res com e	455 ,06 4	1,0 20	43	202 ,115	-	-	-	( 185 ,88 1)	472 361 ,
l - I nte rna	13, 650	-	13	172 ,21 8	-	-	-	( 185 ,88 1)	-
l - E xte rna	44 1,4 14	1,0 20	30	29, 897	-	-	-	-	472 361 ,
Inte t ex res pen ce	( 3) 191 ,68	( ) 566	( 3)	( 4) 185 ,10	-	-	-	185 ,88 1	( 191 ) 475 ,
l - I nte rna	( 5) 171 ,65	( ) 566	( 3)	( ) 13, 657	-	-	-	185 ,88 1	-
- E l xte rna	( ) 20, 028	-	-	( 7) 171 ,44	-	-	-	-	( ) 191 475 ,
Net issi inc co mm on om e	183 ,87 4	262	084 12,	( 469 )	-	-	-	-	195 751 ,
l - I nte rna	9,1 53	-	( 8,6 84)	( 469 )	-	-	-	-	-
l - E xte rna	174 ,72 1	262	768 20,	-	-	-	-	-	195 751 ,
fin ial e/ Net inc (ex se) anc om pen	103 ,45 5	219	( 53)	( ) 673	-	-	-	-	102 948 ,
Net her inc e/ (ex se) ot om pen	( 71) 1,6	-	-	254	( 6)	( 11)	-	-	( ) 1, 434
ati inc e/ Ne (ex ) t o ng per om pen ses	039 549 ,	935	071 12,	123 16,	( 6)	( 11)	-	-	578 151 ,
al s taff d o the Tot sts co an r
ad min istr ativ e e xpe nse s	( 4) 269 ,69	( 55) 1,0	( 85) 3,1	( ) 586	126	1,2 60	2,4 08	-	( ) 270 726 ,
n/a n/w off De cia tio rtis atio rite pre mo	( 16, 823 )	( 39)	( 31)	( 2)	( 253 )	( 1,8 96)	( 2,1 87)	-	( 21, 231 )
ital in/ los Cap ( ) ga ses	18	-	-	-	-	8	-	-	26
Tot al i airm los ent mp ses	( 1) 42 ,69	-	-	-	-	-	-	-	( ) 42 691 ,
fit ( los s) bef inc Pro e ta ore om x	849 219 ,	( ) 159	855 8,	535 15,	( ) 133	( ) 639	221	-	243 529 ,
Inc x (e s) e ta om xpe nse	( 29, 834 )	( 8)	( 1,3 78)	-	-	-	-	-	( 31, 220 )
rof it ( los s) for th Ne t p e y ear	190 015 ,	( ) 167	7, 477	15, 535	( ) 133	( ) 639	221	-	212 309 ,
tal To As set s	17, 882 ,94 1	57, 031	176 24,	380 7,6 12,	-	-	1,7 32	( ) 1,9 87, 314	23, 590 946 ,
To tal Lia bili tie s	15, 302 ,14 8	57, 198	709 15,	7,5 99 ,39 5	133	639	1,5 11	( ) 1,9 87, 314	20 989 419 , ,
f in Acq uis itio ible tan n o g nd ts a ty, a sse pro per lan d e ipm t an ent p qu	6,8 07	-	106	-	-	-	-	-	6,9 13

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

NOTE 3 SEGMENT REPORTING (CONTINUED)

For the period ended 31 December 2013 reconciliation between Group's Segment reporting and financial statements is presented below:

			Elim ina tio ns
	Seg nt me Re rtin g po	Int st i ere nco me fro edg ed m H L& R	Oth er cili ng rec on trie en s	ial Fin anc Sta tem ent s
Inte t in res com e	472 ,36 1		76) ( 1,3	470 ,98 5
Inte t ex res pen ce	( 191 ,47 5)	00 9,2	30	( 182 ,24 5)
Net issi inc co mm on om e	195 ,75 1	-	95 1,3	197 ,14 6
fin ial Net inc anc om e	102 ,94 8	00) ( 9,2	267	94, 015
oth Net er i nco me	34) ( 1,4	-	26 7,2	5,7 92
Ne ati inc t o ng per om e	578 ,15 1	-	42 7,5	585 693 ,
al s taff and her Tot sts ot co ad min istr ativ e e xpe nse s	( 270 ,72 6)	-	( 17) 7,5	( 278 ,24 3)
/am /wr off De cia tion isat ion ite ort pre	( 21, 231 )		( 25)	( 21, 256 )
ital los Cap ses	26	-	-	26
Tot al i airm los ent mp ses	( ) 42, 691	-	-	( ) 42, 691
fit bef Pro inc e ta ore om x	29 243 ,5	-	-	243 ,5 29
Inc x (e s) e ta om xpe nse	( ) 31, 220	-	-	( ) 31, 220
rof it f the Ne t p or ye ar	212 309 ,	-	-	212 309 ,

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

NOTE 3 SEGMENT REPORTING (CONTINUED)

Business segments of the Group for the period ended 31 December 2012 were as follows:

	ltic Ba	rch Me ant	As set			ff Sta	Inf ati orm on
	Div isio n	Ba nki ng	Ma ent nag em	Tre asu ry	Op tio era ns	Fun ctio ns	Tec hno log ies	Elim ina tio ns	To tal Gr ou p
Inte t in res com e	652 ,30 9	24 1,0	104	360 ,94 4	-	-	-	( 8) 388 ,75	625 623 ,
l - I nte rna	95, 152	1	71	293 ,53 4	-	-	-	( 388 ,75 8)	-
l - E xte rna	557 ,15 7	1,0 23	33	410 67,	-	-	-	-	625 623 ,
Inte t ex res pen ce	( 6) 369 ,70	63) ( 1,0	( 3)	( 1) 376 ,55	-	-	-	388 ,75 8	( 65) 358 ,5
l - I nte rna	( 293 ,60 6)	( 1,0 63)	( 3)	( 94, 086 )	-	-	-	388 ,75 8	-
l - E xte rna	( ) 76, 100	-	-	( 5) 282 ,46	-	-	-	-	( 65) 358 ,5
Net issi inc co mm on om e	170 ,18 1	276	064 12,	14) ( 1,2	-	-	-	-	181 307 ,
l - I nte rna	8,9 63	-	37) ( 7,8	( 1,12 6)	-	-	-	-	-
l - E xte rna	161 ,21 8	276	901 19,	88) (	-	-	-	-	181 307 ,
fin ial e/( Net inc e) anc om exp ens	750 82,	( 121 )	( 3)	( ) 174	-	-	-	-	82, 452
oth /(e Net er i ) nco me xpe nse	04) ( 1,6	-	1	38 1,4	60) (	16) (	-	-	( 241 )
ati inc e/ ( es) Ne t o ng per om exp ens	930 533 ,	116	163 12,	( ) 15, 557	60) (	16) (	-	-	530 ,57 6
al s taff and oth Tot sts co er
ad min istr ativ e e xpe nse s	( 307 ,99 7)	( 908 )	48) ( 3,4	( 485 )	928	2,6 13	60 3,7	-	( 305 37) ,5
/am /wr off De ciat ion isat ion ite ort pre	( 87, 053 )	( 53)	( 56)	( 2)	( 758 )	( 878 )	( 3,4 33)	-	( 92, 233 )
ital los Cap ( ) ses	( ) 214	-	-	-	21) (	41	-	-	( ) 194
al i als Tot airm ent mp rev ers	( 25, 239 )	-	-	-	-	-	-	-	( 25, 239 )
fit los bef inc Pro ( s) e ta ore om x	27 113 ,4	( 845 )	659 8,	( 16, 044 )	89	60 1,7	327	-	107 373 ,
x b fit ( Inc es) e ta om ene exp ens	( ) 20, 285	( ) 921	08) ( 1,3	-	-	-	-	-	( 22, ) 514
rof for Ne it ( los s) th t p e y ear	93, 142	( 66) 1,7	7, 351	( ) 16, 044	89	1,7 60	327	-	84, 859
tal To As set s	18, 543 ,53 8	54, 979	959 22,	018 7,6 92,	89	60 1,7	327	( ) 3,1 93, 352	23, 122 318 ,
tal bili To Lia tie s	16, 146 ,07 6	56, 745	618 14,	160 7,7 12,	-	-	-	( 3,1 93, 352 )	20, 736 247 ,
of Acq uisi tion inta ible ng nd ts a ty, a sse pro per
lan d e ipm t an ent p qu	93 6,7	-	-	-	-	-	-	-	12,3 36

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTSFOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

NOTE 3 SEGMENT REPORTING (CONTINUED)

For the period ended, 31 December 2012 reconciliation between Group's Segment reporting and financial statements is presented below:

			Elim ina tio ns
	Se gm ent Re rtin g po	in In ter est co me fro ed d m H ge L& R	Ot he r cili ng rec on trie en s	l Fin cia an Sta tem ts en
Inte t in res com e	623 625 ,	-	( 8) 1, 88	623 735 ,
Inte t ex res pen ce	( ) 358 565 ,	162 22 ,	60 1	( 2) 335 80 ,
Ne issi inc t co mm on om e	307 181 ,	-	3, 34 1	184 648 ,
t fi l in Ne cia nan com e	452 82 ,	( 22 162 ) ,	( 753 ) 1,	58 537 ,
her Ne inc t ot om e	( 1) 24	-	018 8,	7, 777
Ne ing inc t o rat pe om e	576 530 ,	-	319 8,	538 895 ,
al s taf f co d o the Tot sts an r ad min istr ativ e e xpe nse s	( 305 537 ) ,	-	( 7, 722 )	( 313 259 ) ,
off De cia tio n/a rtis atio n/w rite pre mo	( ) 92 233 ,		( ) 597	( ) 92 830 ,
Ca ital los p ses	( ) 194	-	-	( ) 194
al i dits Tot airm ent mp cre	( ) 25, 239	-	-	( ) 25, 239
s b for Los e in ta e co me x	373 107 ,	-	-	107 373 ,
Inc x (e s) e ta om xpe nse	( 22 ) 514 ,	-	-	( 22 ) 514 ,
fit for th Ne t p ro e y ea r	84 85 9 ,	-	-	84 859 ,

AB SEB BANKAS

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE 12 MONTHS PERIOD ENDED 31 DECEMBER 2013

(All amounts in LTL thousands unless otherwise stated)

NOTE 4 FINANCIAL SSETS AND LIABILITIES

The table below presents the carrying amounts and fair values of those financial assets and liabilities presented in the Group's statement of financial position at amortized cost:

	2013
	Book value	Fair value
Balances with the Central Bank	935,323	935,319
Due from banks	3,691,046	3,688,435
Loans to credit institutions	86,077	86,111
Loans to customers
Public sector	409,035	405,586
Corporate	8,151,154	8,081,712
Private individuals	6,603,945	6,142,628
Loans to financial institutions	410	414
Investment securities - loans and receivables	191,126	194,854
Finance lease receivable	1,428,253	1,423,330
Investment securities – held to maturity	13,302	13,240
Total financial assets valued at amortised cost	21,509,671	20,971,629
Due to the Central Bank	33	33
Due to credit institutions	7,177,824	7,285,084
Current and demand deposits	9,601,360	9,599,479
Term deposits from the public	3,623,497	3,617,644
Subordinated loans
Debt securities in issue	110,247	111,426
Total financial liabilities valued at amortised cost	20,512,961	20,613,666

The table below presents the carrying amounts and fair values of those financial assets and liabilities presented in the Bank's statement of financial position at amortized cost:

	2013
	Book value	Fair value
Balances with the Central Bank	935,323	935,319
Due from banks	3,691,046	3,688,435
Loans to credit institutions	86,077	86,110
Loans to customers
Public sector	409,035	405,586
Corporate	8,178,395	8,108,924
Private individuals	6,603,945	6,142,628
Loans to financial institutions	410	414
Investment securities - loans and receivables	191,126	194,854
Finance lease receivable	1,428,394	1,423,474
Investment securities – held to maturity	13,302	13,240
Total financial assets valued at amortised cost	21,537,053	20,998,985
Due to the Central Bank	33	33
Due to credit institutions	7,177,824	7,285,084
Current and demand deposits	9,607,282	9,605,402
Term deposits from the public	3,638,403	3,632,550
Subordinated loans
Debt securities in issue	110,247	111,426
Total financial liabilities valued at amortised cost	20,533,789	20,634,495

(All amounts in LTL thousands unless otherwise stated)

NOTE 4 FINANCIAL SSETS AND LIABILITIES (CONTINUED)

The table below summarizes the hierarchy of fair value measurement of asset and liabilities presented on the Group's statement of financial position at fair value:

	Fair value measurement at the end of reporting period based on:
31 December 2013	Quoted price in active markets for the same instrument	Valuation techniques for which all significant inputs are based on observable market data	Valuation techniques for which any significant input is not based on observable market data
Government securities available
for sale	59,895	-	-
Financial assets at fair value through
profit and loss	910,923	-	43,059
Derivative financial instruments
(assets)	132	259,141	15
Investment securities – available
for sale	-	-	200
Derivative financial instruments
(liabilities)	(33)	(270,895)	(15)
Debt securities in issue	-	(7,309)	-
Total	970,917	(19,063)	43,259

The table below summarizes the hierarchy of fair value measurement of asset and liabilities presented on the Bank's statement of financial position at fair value:

Fair value measurement at the end of reporting period based on:

31 December 2013	Quoted price in active markets for the same instrument	Valuation techniques for which all significant inputs are based on observable market data	Valuation techniques for which any significant input is not based on observable market data
Government securities available for sale	59,228	-	-
Financial assets at fair value through profit and loss	909,613	-	-
Derivative financial instruments (assets) Investment securities – available	132	259,141	15
for sale Derivative financial instruments	-	-	200
(liabilities) Debt securities in issue	(33) -	(270,895) (7,309)	(15) -
Total	968,940	(19,063)	200

(All amounts in LTL thousands unless otherwise stated)

NOTE 5 FINANCIAL ASSETS AND LIABILITIES SUBJECT TO OFFSETTING OR NETTING ARRANGEMENTS

The table below shows recognised financial assets and liabilities that are presented net in the statement of financial position or with potential rights to off-set associated with enforceable master netting arrangements or similar arrangements.

		Enforceable master netting arrangement and similar arrangement
	Gross amounts of recognised financial	Gross amounts of recognised financial liabilities set off in	Net amounts of financial assets recognised in the	Related amounts not set	Cash collateral
Assets	assets	the balance sheet	balance sheet	off in the balance sheet	received	Net amount
Derivative assets	-5,429,275	5,166,694	-262,581	-355		-262,936
Reversed repo receivable			0			0
Securities borrowing			0			0
Other			0			0
TOTAL	-5,429,275	5,166,694	-262,581	-355	0	-262,936

	Enforceable master netting arrangement and similar arrangement
	Gross amounts of	Gross amounts of recognised	Net amounts of financial
	recognised financial	financial assets set off in the	liabilities recognised in the	Related amounts not set	Cash collateral
Liabilities	liabilities	balance sheet	balance sheet	off in the balance sheet	pledged	Net amount
Derivative liabilities	5,433,400	-5,166,694	266,706	355		267,061
Repo payable			0			0
Securities lending			0			0
Other			0			0
TOTAL	5,433,400	-5,166,694	266,706	355	0	267,061
NET	4,125	0	4,125	0	0	4,125

NOTE 6 ASSETS UNDER MANAGEMENT

The Group			The Bank
2013	2012		2013	2012
86,181	39,770	Customers funds	-	-
757,743	767,647	Financial instruments acquired at customer account	-	-
1,842,752	1,703,602	Accounts receivable from customer assets managed on trust basis	-	-
2,686,676		2,511,019 Total assets under management	-	-

NOTE 7 OFF BALANCE SHEET ITEMS

The Group				The Bank
2013	2012		2013	2012
2,915,536	2,544,274	Agreements to grant loans	2,920,735	2,551,743
610,245	554,414	Guarantees issued	610,245	554,417
132,090	180,215	Letters of credit issued	132,090	180,215
39,798	32,601	Commitments to purchase assets	39,798	32,601
-	80	Other commitments	-	80
38	38	Customs guarantees collateralised by deposits	38	38

(All amounts in LTL thousands unless otherwise stated)

NOTE 8 RELATED PARTIES

A number of banking transactions are entered into with related parties in the normal course of business. The transactions with top parent company include loans, deposits and debt instrument transactions. Transactions with AB SEB bankas group (including parent bank) can be specified as follows:

	Interest rate	The Bank
	%	2013	2012
Outstanding loan amount at year end Derivative financial instruments	0,05-3,50	3,644,324	2,565,586
at the year ended	-	72,919	166,964
Other assets at the year end	-	2,729	2,275
Outstanding deposit amount
at the year end	0,10-5,49	6,756,676	6,381,392
	-	216,616	605,755
Commitments to grant loans
at the year end	-	59,369	48,454
	-	-	200
	-	396,172	14,145
			30,210
Interest expense	-	(113,996)	(232,771)
Other services received and cost
incurred from SEB group, net	-	(12,790)	(20,224)
	2,565,586 166,964 3,128 6,381,392 606,107 Other liabilities at the year end 48,454 200 Guarantees issued at the year end 14,145 Guarantees received at the year end 30,210 Interest income (232,771) (13,585)	-	11,242

Transactions with parent bank can be specified as follows:

The Group			Interest rate	The Bank
2013	2012		% 2013		2012
		Outstanding loan amount
3,521,798	2,536,274	at the year end	0.05-0.70	3,521,798	2,536,274
		Derivative financial instruments	-
72,919	166,964	at the year ended		72,919	166,964
62	23	Other assets at the year end	-	62	23
		Outstanding deposit amount
6,679,239	6,309,920	at the year end	0.12-5.49	6,679,239	6,309,920
204,251	593,106	Other liabilities at year end	-	204,251	593,106
59,352		48,402 Unused granted overdraft facilities	-	59,352	48,402
		200 Guarantees issued at the year end	-		200
390,446		4,545 Guarantees received at the year end	-	390,446	4,545
10,736	29,503	Interest income	-	10,736	29,503
(113,943)	(232,537)	Interest expense	-	(113,943)	(232,537)
		Other services received and cost
(261)	(9,502)	incurred from SEB group, net	-	(6,195)	(15,284)

(All amounts in LTL thousands unless otherwise stated)

NOTE 8 RELATED PARTIES (CONTINUED)

Transactions between the Bank and its subsidiaries can be specified as follows:

	Interest rate %	The Bank
		2013	2012
Off-balance sheet commitments as of 31 December:
Agreements to grant loans	-	5,199	7,469
Guarantees issued	-	-	4
Outstanding loan amounts at year end:
UAB "SEB Venture Capital"	1,42-3,50	39,970	37,600
UAB "SEB Investicijų Valdymas"	3.5	74	-
Outstanding deposit amounts at year end:
UAB "SEB Venture Capital"		271	138
UAB "SEB Investicijų Valdymas"	0.16	20,557	19,379
Other assets at year end	-	2,241	1,363
	-
Interest income	-	5,379	5,094
Interest expense	-	(13)	(617)
Dividend income	-	7,351	8,344
Other services received and cost incurred from subsidiaries, net	-	9,871	11,176

(All amounts in LTL thousands unless otherwise stated)

NOTE 9 DEBT SECURITIES ISSUANCE AND REDEMPTION

During the twelve months of 2013 the Bank successfully placed 27 securities issues, as presented in the table below:

Issue date	Redemption date	Duration		Currency Amount in issue (in LTL)	Interest rate or index
2013.02.05	2014.02.20	380 days	EUR		2,172,847 "Brent" Oil
2013.02.19	2016.03.08	1 113 days	LTL		Stock basket of global companies - AT&T Inc, E.ON SE, Johnson & Johnson, Procter & Gamble Co, Royal Dutch Shell PLC, Coca-Cola Co, ConocoPhillips, Verizon Communications Inc, Vodafone Group PLC and Total SA
2013.02.19	2016.03.08	1 113 days	EUR	1,429,900	Stock basket of global companies - AT&T Inc, E.ON SE, Johnson & Johnson, Procter & Gamble Co, Royal Dutch Shell PLC, Coca-Cola Co, ConocoPhillips, Verizon Communications Inc, Vodafone Group PLC and Total SA
2013.04.16	2016.05.04	1 114 days	LTL	1,214,004	S&P Pan Asia Low Volatility Price Return EUR index measuring the performance of Asian and Australian stocks
2013.04.16	2016.05.04	1 114 days	LTL	3,466,600	S&P Pan Asia Low Volatility Price Return EUR index measuring the performance of Asian and Australian stocks
2013.04.16	2016.05.04	1 114 days	EUR	1,310,700	S&P Pan Asia Low Volatility Price Return EUR index measuring the performance of Asian and Australian stocks
2013.05.28	2016.06.03	1 102 days	LTL	1,494,372 403,100	Stock basket of German companies: Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) a nd Siemens AG
2013.05.28	2016.06.03	1 102 days	LTL	264,600	Stock basket of German companies: Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) a nd Siemens AG
2013.05.28	2016.06.03	1 102 days	EUR	432,291	Stock basket of German companies: Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) a nd Siemens AG
2013.06.05	2016.06.23	1 114 days	EUR		1,627,995 DAXK index measuring performance of German stocks
2013.07.02	2016.07.21	1 115 days	LTL		1,535,800 Stock fund iShares STOXX Europe 600 Health Care ETF
2013.07.02	2016.07.21	1 115 days	LTL		1,077,500 Stock fund iShares STOXX Europe 600 Health Care ETF
2013.07.02	2016.07.21	1 115 days	EUR		461,639 Stock fund iShares STOXX Europe 600 Health Care ETF
2013.07.15	2014.07.31	381 days	EUR		1,829,639 Shire PLC shares
2013.07.15	2014.07.31	381 days	EUR		3,762,861 Nokia OYJ shares
2013.08.27	2016.09.13	1 113 days	LTL		Asian real estate companies' shares – Swire Properties Ltd , Sun Hung Kai Properties Ltd , Hongkong Land Holdings Ltd , The Link REIT , Sino Land Co Ltd , CapitaMall Trust , Kerry Properties Ltd , Keppel Land Ltd , Hysan
				1,916,400	Development Co Ltd and Champion REIT
2013.08.27	2016.09.13	1 113 days	LTL		Asian real estate companies' shares – Swire Properties Ltd , Sun Hung Kai Properties Ltd , Hongkong Land Holdings Ltd , The Link REIT , Sino Land Co Ltd , CapitaMall Trust , Kerry Properties Ltd , Keppel Land Ltd , Hysan
				650,400	Development Co Ltd and Champion REIT
2013.08.27	2016.09.13	1 113 days	EUR		Asian real estate companies' shares – Swire Properties Ltd , Sun Hung Kai Properties Ltd , Hongkong Land Holdings Ltd , The Link REIT , Sino Land Co Ltd , CapitaMall Trust , Kerry Properties Ltd , Keppel Land Ltd , Hysan Development Co Ltd and Champion REIT
				422,277
2013.09.24 2013.09.24	2016.10.12 2016.10.12	1 114 days	LTL		688,000 iShares MSCI Malaysia ETF
2013.09.24	2016.10.12	1 114 days	LTL		208,800 iShares MSCI Malaysia ETF 136,040 iShares MSCI Malaysia ETF
2013.11.05	2016.11.11	1 114 days 1 102 days	EUR LTL		European companies' shares – Vinci SA, Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener
				587,400	Rueckversicherungs-Gesellschaft AG (MunichRe), Siemens AG, Svenska Handelsbanken AB, Air Liquide SA, GDF Suez, Eni S.p.A. ir Unilever NV
2013.11.05	2016.11.11	1 102 days	LTL		European companies' shares – Vinci SA, Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe), Siemens AG, Svenska Handelsbanken AB, Air Liquide SA, GDF Suez, Eni S.p.A. ir Unilever NV
2013.11.05	2016.11.11	1 102 days	EUR	415,000	European companies' shares – Vinci SA, Bayerische Motoren Werke (BMW) AG, Deutsche Telekom AG, Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe), Siemens AG, Svenska Handelsbanken AB, Air Liquide SA, GDF
				302,120	Suez, Eni S.p.A. ir Unilever NV
2013.12.17	2017.01.04	1 114 days	LTL		1,269,500 Fund Technology Select Sector SPDR unit
2013.12.17	2017.01.04	1 114 days	LTL		1,036,000 Fund Technology Select Sector SPDR unit
2013.12.17	2017.01.04	1 114 days	EUR		413,991 Fund Technology Select Sector SPDR unit

(All amounts in LTL thousands unless otherwise stated)

NOTE 9 DEBT SECURITIES AND REDEMPTION (CONTINUED)

During the tewlve months of 2013 the Bank successfully redeemed its 40 securities issues, as presented in the table below:

Issue date	Redemption date	Duration	Currency	Amount in issue	Interest rate or index
				(in LTL)
2011.01.11	2013.01.23	743 days	LTL		763,100 EUR/BRL and EUR/MXN FX rates
2011.01.11	2013.01.23	743 days	EUR		888,060 EUR/BRL and EUR/MXN FX rates
2009.12.12	2013.02.08	1 144 days	LTL	15,338,200	Brazilian companies' shares - Petroleo Brasileiro S.A., Vale S.A., Itau Unibanco Holding S.A., Banco Bradesco S.A., Cia Siderurgica Nacional S.A., Empresa Brasileira de Aeronautica S.A., Tele Norte Leste Participacoes S.A., Cia Energetica de Minas Gerais, BRF - Brasil Foods S.A., Cia de Bebidas das Americas
2009.12.12	2013.02.08	1 144 days	LTL		Brazilian companies' shares - Petroleo Brasileiro S.A., Vale S.A., Itau Unibanco Holding S.A., Banco Bradesco S.A., Cia Siderurgica Nacional S.A., Empresa Brasileira de Aeronautica S.A., Tele Norte Leste Participacoes S.A., Cia Energetica de Minas Gerais, BRF - Brasil Foods S.A., Cia de Bebidas das Americas
2009.12.12	2013.02.08	1 144 days	EUR	2,318,800	Brazilian companies' shares - Petroleo Brasileiro S.A., Vale S.A., Itau Unibanco Holding S.A., Banco Bradesco S.A., Cia Siderurgica Nacional S.A., Empresa Brasileira de Aeronautica S.A., Tele Norte Leste Participacoes S.A., Cia Energetica de Minas Gerais, BRF - Brasil Foods S.A., Cia de Bebidas das Americas
2010.02.09	2013.03.06	1 121 days	LTL	2,295,076	U.S. exporting companies' shares - Altria Group Inc, Avon Products Inc, Baxter International Inc, Caterpillar Inc, Cisco Systems Inc, Coca-Cola Co, Colgate-Palmolive Co, Intel Corp, International Business Machines Corp, Microsoft Corp, Oracle Corp, Pfizer Inc, Rockwell Automation Inc, Texas Instruments Inc, Tyco International Ltd, United Technologies Corp
				37,462,600
2010.02.09	2013.03.06	1 121 days	LTL	1,626,000	Emerging countries companies' shares - MMC Norilsk Nickel, Reliance Industries Ltd, Itau Unibanco Holding S.A., Petroleo Brasileiro S.A., BRF - Brasil Foods S.A., Tele Norte Leste Participacoes S.A., Vale S.A., Guangdong Investment Ltd, China Construction Bank Corp, China Railway Construction Corp Ltd, Bank of China Ltd, Hyundai Motor Co, Samsung Electronics Co, HON HAI Precision Industry Co
2010.02.09	2013.03.06	1 121 days	EUR	955,390	Emerging countries companies' shares - MMC Norilsk Nickel, Reliance Industries Ltd, Itau Unibanco Holding S.A., Petroleo Brasileiro S.A., BRF - Brasil Foods S.A., Tele Norte Leste Participacoes S.A., Vale S.A., Guangdong Investment Ltd, China Construction Bank Corp, China Railway Construction Corp Ltd, Bank of China Ltd, Hyundai Motor Co, Samsung Electronics Co, HON HAI Precision Industry Co
2011.02.23	2013.03.13	749 days	EUR		2,336,510 Swedish companies shares - AstraZeneca PLC, Swedbank AB and Skanska AB
2011.02.23	2013.03.13	749 days	EUR		1,815,137 Swedish companies shares - AstraZeneca PLC, Swedbank AB and Skanska AB
2010.03.05	2013.03.26	1 117 days	LTL		China stock basket - Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, China Life Insurance Co Ltd, Hang Seng Bank Ltd, Taiwan Semiconductor Manufacturing Company Ltd, HON HAI Precision Industry Co, Jiangxi Copper Co Ltd, China Mobile Ltd, CLP Holdings Ltd, Hutchison Whampoa Ltd, China Railway Group Ltd, PetroChina Co Ltd, China Petroleum & Chemical Corp, Tsingtao Brewery Co Ltd, Li & Fung Ltd
				6,278,700
2010.03.05	2013.03.26	1 117 days	LTL		China stock basket - Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, China Life Insurance Co Ltd, Hang Seng Bank Ltd, Taiwan Semiconductor Manufacturing Company Ltd, HON HAI Precision Industry Co, Jiangxi Copper Co Ltd, China Mobile Ltd, CLP Holdings Ltd, Hutchison Whampoa Ltd, China Railway Group Ltd, PetroChina Co Ltd, China Petroleum & Chemical Corp, Tsingtao Brewery Co Ltd, Li & Fung Ltd
				4,193,200
2010.03.05	2013.03.26	1 117 days	LTL		1,687,300 Coffee, wheat, soybeans, corn, cotton and cocoa
2010.03.05	2013.03.26	1 117 days	EUR
					1,639,735 Coffee, wheat, soybeans, corn, cotton and cocoa
2010.04.13	2013.05.02	1 115 days	LTL		1,664,600 Lyxor ETF Eastern Europe
2010.04.13	2013.05.02	1 115 days	LTL		255,900 Lyxor ETF Eastern Europe
2010.04.13	2013.05.02	1 115 days	EUR		279,332 Lyxor ETF Eastern Europe
2011.04.29	2013.05.15	747 days	EUR		2,109,316 Basket of Scandinavian companies stocks: AP Moller-Maersk A/S, Norsk Hydro ASA and Swedbank AB
2011.04.29	2013.05.15	747 days	EUR		2,640,011 Basket of Scandinavian companies stocks: AP Moller-Maersk A/S, Norsk Hydro ASA and Swedbank AB
2012.05.24	2013.06.11	383 days	EUR		4,672,329 Daimler AG shares
2010.06.01	2013.06.19	1 114 days	LTL		Funds basket: Market Vectors Russia ETF, Samsung Kodex 200 Exchange Traded Fund, iShares MSCI Taiwan, iShares MSCI Brazil Index Fund, Hang Seng H-Share Index ETF, iShares MSCI Turkey Investable Market Index Fund.
2010.06.01	2013.06.19	1 114 days	LTL	5,659,200	Funds basket: Market Vectors Russia ETF, Samsung Kodex 200 Exchange Traded Fund, iShares MSCI Taiwan, iShares MSCI Brazil Index Fund, Hang Seng H-Share Index ETF, iShares MSCI Turkey Investable Market Index Fund.
				2,780,100
2010.06.01	2013.06.19	1 114 days	EUR	2,217,043	Funds basket: Market Vectors Russia ETF, Samsung Kodex 200 Exchange Traded Fund, iShares MSCI Taiwan, iShares MSCI Brazil Index Fund, Hang Seng H-Share Index ETF, iShares MSCI Turkey Investable Market Index Fund.
2010.06.23	2013.07.11	1 114 days	LTL		Asian countries funds: South Korean fund iShares MSCI South Korea Index Fund , Taiwanese fund iShares MSCI Taiwan
				2,211,700	Index Fund and Japanese fund iShares MSCI Japan Index Fund
2010.06.23	2013.07.11	1 114 days	LTL	814,800	Asian countries funds: South Korean fund iShares MSCI South Korea Index Fund , Taiwanese fund iShares MSCI Taiwan Index Fund and Japanese fund iShares MSCI Japan Index Fund
2010.06.23	2013.07.11	1 114 days	EUR		Asian countries funds: South Korean fund iShares MSCI South Korea Index Fund , Taiwanese fund iShares MSCI Taiwan
				1,429,804	Index Fund and Japanese fund iShares MSCI Japan Index Fund
2010.06.23	2013.07.11	1 114 days	LTL		1,716,400 Corn, soybeans, sugar, coffee, cotton and cocoa
2010.06.23	2013.07.11	1 114 days	LTL		1,076,000 Corn, soybeans, sugar, coffee, cotton and cocoa

(All amounts in LTL thousands unless otherwise stated)

NOTE 9 DEBT SECURITIES AND REDEMPTION (CONTINUED)

Issue date	Redemption	Duration	Currency	Amount in issue	Interest rate or index
	date			(in LTL)
2010.06.23	2013.07.11	1 114 days	EUR		892,549 Corn, soybeans, sugar, coffee, cotton and cocoa
2012.06.27	2013.07.15	383 days	EUR		4,203,439 Bank of America Corp shares
2010.08.26	2013.08.29	1 099 days	LTL		Russian and Central Eastern European companies' shares: NovaTek OAO , Mechel , Evraz Group SA , X5 Retail Group
					NV , Mobile Telesystems OJSC , Telekomunikacja Polska SA , KGHM Polska Miedz SA , MOL Hungarian Oil and Gas
				3,075,400	PLC , CEZ AS and Komercini Banka AS
2010.08.26	2013.08.29	1 099 days	LTL		Russian and Central Eastern European companies' shares: NovaTek OAO , Mechel , Evraz Group SA , X5 Retail Group
					NV , Mobile Telesystems OJSC , Telekomunikacja Polska SA , KGHM Polska Miedz SA , MOL Hungarian Oil and Gas
				1,583,500	PLC , CEZ AS and Komercini Banka AS
2010.08.26	2013.08.29	1 099 days	EUR		Russian and Central Eastern European companies' shares: NovaTek OAO , Mechel , Evraz Group SA , X5 Retail Group
					NV , Mobile Telesystems OJSC , Telekomunikacja Polska SA , KGHM Polska Miedz SA , MOL Hungarian Oil and Gas
				1,238,865	PLC , CEZ AS and Komercini Banka AS
2012.08.22	2013.09.09	383 days	EUR		1,711,553 Samsung Electronics Co shares
2012.10.25	2013.11.12	383 days	USD		1,661,990 Neste Oil shares
2012.10.25	2013.11.12	383 days	EUR		3,247,358 Neste Oil shares
2010.10.26	2013.11.13	1 114 days	LTL		USA funds: iShares Dow Jones U.S. Technology Fund, iShares Dow Jones U.S. Real Estate Index Fund, iShares Dow
				2,132,900	Jones Transportation Average Index Fund
2010.10.26	2013.11.13	1 114 days	LTL		USA funds: iShares Dow Jones U.S. Technology Fund, iShares Dow Jones U.S. Real Estate Index Fund, iShares Dow
				723,800	Jones Transportation Average Index Fund
2010.10.26	2013.11.13	1 114 days	EUR		USA funds: iShares Dow Jones U.S. Technology Fund, iShares Dow Jones U.S. Real Estate Index Fund, iShares Dow
				349,078	Jones Transportation Average Index Fund
2010.12.22	2013.12.19	1 093 days	LTL		Russian companies' shares: Gazprom OAO, Rosneft Oil Co, Lukoil OAO, Evraz Group SA, Mechel, Mobile Telesystems
					OJSC, Sberbank of Russia, X5 Retail Group NV, Eurasian Natural Resources Corp PLC ir Magnit OJSC
				3,365,200

NOTE 10 SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

After 31 December 2013 the Bank successfully completed 4 debt securities issues with the nominal value of LTL 1,523 thousand. After 31 December 2013 the Bank successfully redeemed 12 debt securities issues with the nominal value of LTL 20,989 thousand.

NOTE 11 MAJOR EVENTS IN THE ISSUER'S ACTIVITIES

On 31 January 2013, the Bank announced that According to preliminary data, unaudited net profit earned over the year 2012 by AB SEB bankas is LTL 126,3 million (EUR 36,6 million) and by AB SEB bankas Group - LTL 89,3 million (EUR 25,0 million). The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the year 2011, audited net profit earned by AB SEB bankas totaled LTL 379,8 million (EUR 110,0 million) and by AB SEB bankas Group – LTL 469,7 million (EUR 136,0 million).

On 19 March 2013, the Bank announced that on the 29th of March 2013, the Annual General Meeting of Shareholders of AB SEB bankas (hereinafter – the Bank) will take place. The Annual General Meeting is initiated and convened by the Management Board of the Bank. 100 % of shares of the Bank is owned by the bank Skandinaviska Enskilda Banken AB.

Issues on the agenda:

• 1. Regarding the Annual Report of the Bank;
• 1. Regarding the Report of the Auditor of the Bank;
• 1. Regarding the comments and proposals of the Supervisory Council of the Bank;
• 1. Regarding approval of the Consolidated Financial Statements of the Bank for the Year 2012;
• 1. Regarding appropriation of the Year 2012 profit (loss) of the Bank.
• 1. Regarding appointment of audit company of the Bank and approval of payment terms for audit services;
• 1. Regarding reorganization of AB "SEB lizingas".

The Management Board of the Bank endorsed the draft resolutions of the Annual General Meeting of Shareholders of the Bank

On 29 March 2013, the Bank announced that on the 29th March 2013, the Annual General Meeting of Shareholders of AB SEB bankas (hereinafter – the SEB Bank) took place and decisions on all issues on the agenda were adopted:

• 1. Bank Group's year 2012 Consolidated Annual Report and its Annex "Disclosure form concerning the compliance with the Corporate Governance Code for the Companies Listed on NASDAQ OMX Vilnius" have been familiarized with;
• 1. Report of the audit company UAB "PricewaterhouseCoopers", which has performed the audit, has been familiarized with;
• 1. Comments and proposals of the Supervisory Council of the Bank regarding the Bank's Activity Strategy, its Annual Consolidated Financial Statements, Draft Profit (Loss) Appropriation and the Bank's Consolidated Annual Report as well as the activities of the Bank's Management Board and President have been familiarized with;
• 1. Bank's and Bank Group's year 2012 Consolidated Financial Statements produced in accordance with the International Financial Reporting Standards were approved;
• 1. Appropriation of the year 2012 profit (loss) of the Bank was approved;
• 1. The audit company UAB "PricewaterhouseCoopers" was appointed to verify the Bank's Financial Statements of current and no more than 2 (two) upcoming financial years and the President of the Bank was authorized to enter into an agreement with UAB "PricewaterhouseCoopers" regarding rendering of audit services and to establish the terms of payment for the services therein;

(All amounts in LTL thousands unless otherwise stated)

NOTE 11 MAJOR EVENTS IN THE ISSUER'S ACTIVITIES (CONTINUED)

1. Pursuant to part 1 of article 63 and part 1 of article 70 of the Law on Companies of the Republic of Lithuania, reorganization of AB "SEB lizingas", a company established and acting pursuant to the laws of the Republic of Lithuania, which data is kept at the Register of Legal Entities of the Republic of Lithuania, with code 123051535, and with registered office address Saltoniškių street 12, Vilnius, was approved by merging AB "SEB lizingas" into the Bank. The Management Board of the Bank was assigned to prepare the Terms of Reorganization whereby AB "SEB lizingas" would be merged into the Bank. The Management Board of the Bank and the chairman of the Management Board (the President) were authorized to take any and all actions related thereto.

On 23 April 2013, the Bank announced that according to preliminary data, unaudited net profit earned over the first quarter of the year 2013 by AB SEB bankas is LTL 44.0 million (EUR 12.7 million) and by AB SEB bankas Group is LTL 38.7 million (EUR 11.2 million). The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the first quarter of the year 2012, unaudited net profit earned by AB SEB bankas totalled LTL 30.7 million (EUR 8.9 million) and by AB SEB bankas Group – LTL 41.5 million (EUR 12.0 million).

On 15 July 2013, the Bank announced that according to preliminary data, unaudited net profit earned over the first half of the year 2013 by AB SEB bankas is LTL 102.3 million (EUR 29.6 million) and by AB SEB bankas Group is LTL 97.5 million (EUR 28.2 million). The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the first half of the year 2012, unaudited net profit earned by AB SEB bankas totaled LTL 59.5 million (EUR 17.2 million) and by AB SEB bankas Group – LTL 80.4 million (EUR 23.3 million).

On 18 October 2013, the Bank announced that on the 29th of October 2013, the Extraordinary General Meeting of Shareholders of AB SEB bankas will take place. The Extraordinary General Meeting is initiated and convened by the Board of AB SEB bankas. 100 % of shares of AB SEB bankas is owned by Skandinaviska Enskilda Banken AB.

Issues on the agenda:

• 1. regarding the Reorganization of AB SEB bankas and AB "SEB lizingas" by merging AB "SEB lizingas" into AB SEB bankas;
• 1. regarding the election of the Supervisory Council of AB SEB bankas.

The Board of the Bank also approved the draft decisions of the Extraordinary General Meeting of Shareholders of the bank.

On 24 October 2013, the Bank announced that according to preliminary data, unaudited net profit earned over the three quarters of the year 2013 by AB SEB bankas is LTL 159.4 million (EUR 46.2 million) and by AB SEB bankas Group is LTL 167.5 million (EUR 48.5 million). The result has been calculated in accordance with the requirements set by the acts of the Bank of Lithuania and legal acts of the Republic of Lithuania. Over the three quarters of the year 2012, unaudited net profit earned by AB SEB bankas totaled LTL 103.1 million (EUR 29.9 million) and by AB SEB bankas Group – LTL 137.0 million (EUR 39.7 million).

On 30 October 2013, the Bank announced that on the 29th of October 2013, the Extraordinary General Meeting of Shareholders of AB SEB bankas took place and decisions on all issues on the agenda were adopted:

• 1. Decision on reorganization of AB SEB bankas by merging AB "SEB lizingas" into AB SEB bankas was adopted. After completion of the reorganization AB SEB bankas shall continue its activities as a legal entity, whereas AB "SEB lizingas" shall terminate its activities as a legal person.
• 1. Reorganization terms of AB SEB bankas and AB "SEB lizingas" were approved
• 1. New wording of the Articles of Association of AB SEB bankas were approved authorizing Raimondas Kvedaras, the president of AB SEB bankas, to sign new wording of the Articles of Association of AB SEB bankas
• 1. New Supervisory Council of AB SEB bankas was elected for the period of 4 years. Knut Jonas Martin Johansson, Mark Barry Payne, Stefan Stignäs, Ted Tony Kylberg, David Bamforth Teare were elected as members of the Supervisory Council.
• 1. It was stipulated that newly elected members of Supervisory Council shall commence their activities since the end of the Meeting.
• 1. Knut Jonas Martin Johansson was assigned to call a meeting of the newly elected Supervisory Council and provide meeting's agenda including the election of the chairman of the Council.
• 1. Chairman of the Management Board of AB SEB bankas (the President) was authorized to perform all the necessary actions related to the implementation of this decision allowing him to reauthorize other persons.

On 25 November 2013, the Bank announced :

• 1. 12 P.M., 22nd of November, 2013, the Transfer Acceptance Deed of AB "SEB lizingas" Assets, Rights and Obligations was signed according to AB SEB bankas and AB "SEB lizingas" Reorganization Terms. It is deemed that from the moment of conclusion of the deed all assets, rights and obligations of AB "SEB lizingas" are transferred to AB SEB bankas, which after completion of the reorganization shall take over leasing activities.
• 1. On the 25th of November, 2013, new wording of the Articles of Association of AB SEB bankas were registered within the Register of Legal Entities of the Republic of Lithuania, indicating the completion of the reorganization of AB SEB bankas and AB "SEB lizingas". The registration of the new wording of the Articles of Association of AB SEB bankas were laid down by the AB SEB bankas and AB "SEB lizingas"Reorganization Terms and according to the Part 1 of the Article 69 of the Law on Companies the reorganization shall be deemed completed when all amended articles of association of all the companies continuing after the reorganisation are registered.

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