Lietuvos bankų investavimo kriterijai

LTŠiame straipsnyje sprendžiamos investavimo kriterijų nustatymo ir jų reikšmingumo įvertinimo praktinėje Lietuvos bankų veikloje problemos. Bankų investavimo veikla nagrinėjama šią sąvoką susiaurinant iki investicijų į vertybinius popierius ir klientų aptarnavimo vertybinių popierių rinkoje. Straipsnyje aprašyti pagrindiniai investuotojų analizuojami rodikliai, vertybinių popierių ypatybės, į kurias atsižvelgiama prognozuojant jų vertės kitimą. Išnagrinėtos ir bankų veiklos vertybinių popierių rinkoje ypatybės bei įvertinti bankų vertybinių popierių portfelių sudarymo būdai. Atlikus Lietuvos bankų investiciniųpadalinių ir antrinių (asocijuotų) bendrovių darbuotojų apklausą, nustatytas jų investicinės veiklos kriterijų reikšmingumas. [Iš leidinio]Reikšminiai žodžiai: Bankai; Investicijos į vertybinius popierius; Investavimo kriterijai; Banks; Investments in securities; Investment criteria.

ENThe process of making bank investment decisions differs in developed and emerging markets. This process is related to the financial market peculiarities, regulation and supervision of the banking system, and to the experience of the bank in the securities market. In this article, I tried to group investment criteria and to evaluate their use in the activities of Lithuanian banks. The criteria for bank investment decisions are grouped and analyzed according to the main elements of investment activities: - specific features of securities such as profitability, risk, liquidity, etc.; - information used to choose an investment object; - theories and methods used to make investment decisions. At the beginning of 2000 I questioned employees of Lithuanian banks and their securities subsidiaries/associated companies. The questionnaire consisted of 5 questions. Respondents had a possibility to mark some structured answers or/and more detailed answers. The quantitative evaluation of the importance of investment criteria for Lithuanian banks was averaged for all 12 respondents. For short-term investments of Lithuanian banks the most important criteria are liquidity and profitability of securities, and forecasted changes in the securities market. Whereas planning long-term investments, Lithuanian banks are more concerned about how their investments comply with the strategy of the bank/firm. Most employees of Lithuanian banks are well motivated to create an effective securities portfolio that would be profitable, liquid, and not exposed to risk.The main results of this article are as follows: - Lithuanian banks point out the importance of liquidity of their investments; - Lithuanian banks widely use both technical and fundamental analysis; - most Lithuanian banks forecast changes in the securities market. Lithuanian banks should more widely use portfolio theories, especially while providing investment services for their clients. [From the publication]