EBRD paid for subscribed bank shares


European Bank for Reconstruction and Development becomes the biggest shareholder of Šiaulių Bankas AB

Today, 11 August, European Bank for Reconstruction and Development has transferred LTL 20,4 million onto the saving account of Šiaulių Bankas AB for the gained share package.
An agreement of EBRD’s investment into the capital of Šiaulių Bankas AB, according to which EBRD redeemed a new share issue, was signed on 3 June, 2005. After registering the enlarged share capital of the Bank up to LTL 74,7 million, EBRD will possess 16,1 per cent of the Bank’s share capital.
Šiaulių Bankas AB still remains a Lithuanian capital bank as, after registering the new capital of the Bank, 75 per cent of the Bank’s authorized capital will be owned by the residents, enterprises and private persons of Lithuania.
The distinct increase of the capital will enable the Bank’s further development, enlargement of finansing long-term and medium-term projects for small and medium-size businesses as well as development and improvement of  services provided by the Bank.