Šiaulių bankas is a major commercial bank in Lithuania providing retail and commercial banking services.[2][3]

AB Šiaulių bankas
Company typePublic company
Nasdaq BalticSAB1L
IndustryFinancial services
Founded4 February 1992; 32 years ago (1992-02-04)
Headquarters,
Key people
Vytautas Sinius (CEO)
ProductsRetail banking, mortgage loans, corporate banking
RevenueIncrease 125.483 million (2022)[1]
Increase €76.530 million (2022)
Increase €63.614 million (2022)
Total assetsIncrease €3.029 billion (2022)
Number of employees
867
Websitesb.lt

It has been designated in 2019 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[4]

History

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Šiaulių bankas was established in 1992.[2] The bank took over assets from Ūkio bankas totaling LTL2,7 billion in 2013, for which the European Bank for Reconstruction and Development (EBRD) granted the bank a loan of LTL69 million.[5][6]

As of 2018 the largest shareholder of the company's was the EBRD, owing 26% of the company's stock after converting loans to the bank into shares.[2][7] In 2021, 18% of the Banks shares held by the EBRD were sold to Invalda INVL, Nord Security and ME investija.[8]

The bank merged Invalda INVL and its retail business in 2023, creating a new company headed by the former INVL Investment Management director.[9][10]

Since 1994 (in Secondary List) and since 2006 (in Main List), the company is listed in Nasdaq Vilnius.[2] In 2022, the bank reported a profit of over €63 million and a loan portfolio of €2.6 billion.[11]

References

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  1. ^ "Šiaulių bankas, AB revenue, profit".
  2. ^ a b c d "Šiaulių bankas | Company — Nasdaq Baltic". nasdaqbaltic.com. Retrieved 25 April 2021.
  3. ^ "Decision of the Court regarding a fine imposed on Šiaulių bankas". Yahoo Finance. December 29, 2022.
  4. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  5. ^ "Šiaulių bankas perima dalį Ūkio banko turto ir įsipareigojimų". Kauno diena (in Lithuanian). 2013-02-24. Retrieved 2024-04-11.
  6. ^ Aukštuolytė, Rima. "Šiaulių bankas užbaigė Ūkio banko perėmimą". vz.lt (in Lithuanian). Retrieved 2024-04-11.
  7. ^ "EBRD moves to convert loan to shares in Lithuania's Šiaulių Bankas". Retrieved 2024-04-11.
  8. ^ "EBRD reduces stake in Lithuania's Šiaulių Bankas". Retrieved 2024-05-22.
  9. ^ "Šiaulių bankas ir „Invalda INVL" baigė susijungimą, sandorio vertė – 41,8 mln. eurų". lrt.lt (in Lithuanian). 2023-11-30. Retrieved 2024-05-22.
  10. ^ "Šiaulių Bankas and Invalda INVL completed merger of retail businesses". Delfi EN. Retrieved 2024-05-22.
  11. ^ "Šiaulių Bankas Group results for the year 2022". Šiaulių bankas. Retrieved 2024-05-22.