2012-04-18
Survey: the majority of enterprises assess the impact of SNORAS bankruptcy on their activities as insignificant
For three-fourths of non-financial enterprises, the bankruptcy of AB bankas SNORAS declared at the end of 2011 was an event of low significance, less than one-tenth of enterprises assessed the influence of this factor as large. This was reflected by the survey of managers and financiers of 500 non-financial enterprises ordered by the Bank of Lithuania and conducted by the company “Spinter tyrimai”.
“The results of the survey revealed that AB bankas SNORAS bankruptcy did not have an essential impact on the majority of domestic enterprises, a significant share of enterprises indicated that this impact will decrease further in the nearest time”, Mr. Virgilijus Rutkauskas, Senior Economist of the Financial Stability Division of the Economics Department of the Bank of Lithuania commented the survey results.
75.8 per cent of the managers or financiers of non-financial enterprises participating in the survey indicated that AB bankas SNORAS bankruptcy had a low impact on their business, while only 7.0 per cent of enterprises responded that this event significantly affected their business.
In terms of economic sector, the lowest share of enterprises that assessed AB bankas SNORAS activity suspension as significant operated in services (5.9%), industrial (6.5%) and trade (7.6%) sectors, while the largest share was in the construction sector (13.5%).
Enterprises were also asked about the influence that AB bankas SNORAS factor will have on their business in the coming six months – 95.6 per cent of managers or financiers indicated that the impact of this factor will decline or remain unchanged, and only 10 (2.0%) respondents answered that the influence of AB bankas SNORAS activity suspension on their business will increase.
Surveys of non-financial enterprises on business financing are conducted two times per year. The latest survey was conducted in February–March 2012. More comprehensive results of the survey will be published in the nearest time.