Hearts FC unveil new signings despite financial woes

By Alexander Lawrie

HEARTS FC unveiled its latest bid for footballing glory – a women’s team.

But the news was overshadowed by reports that owner Vladimir Romanov’s bank has seen its own fortunes plunge – with a 91 per cent drop in profits.

Ukio Bankas saw its profits all but wiped out by the global recession.

The Lithuanian bank – of which Vladmir Romanov is a major shareholder – only just stayed in the black by recording a net profit of £1.1 million.

But, despite its plummeting profits, a spokesperson for the bank claimed the start of the year had been “positive”.

Arnas Zalys, head of the firm’s finance office, said: “Taken into consideration current market situation we view the first half-year results of Ukio Bankas positively.