EBRD investment increases potentialities of Šiaulių bankas



EBRD investment increases potentialities of Šiaulių bankas. European Bank for Reconstruction and Development approved its intentions to invest in Šiaulių bankas purchasing shares of the new issue. EBRD interest will be 16% following the capital increase of the bank. The Board of EBRD will discuss the issue of investment on 5th April 2005. The total value of the project can amount to LTL 23 000 000.

For the last four years EBRD and Šiaulių bankas have been collaborating successfully. A special credit line granted to Šiaulių bankas by EBRD for small and medium-size business development enabled to improve a complex of services rendered to small and medium-size businesses and individual customers in Lithuania and stimulated a rapid growth of the bank. Šiaulių bankas was transformed from a regional bank into a national bank having a network of 43 branches and client service centres in 25 towns of Lithuania. Moreover, it bacame known as a partner of small and medium-size business. The Bank together with EBRD are starting a new stage of development.

EBRD investment will enable to ensure a successful further growth of Šiaulių bankas, its variety and quality of services designed to finance small and medium-size business.