Global Finance has recognized Šiaulių Bankas as the Best Bank in Lithuania for the third time in a row

2017-03-21

International business and finance magazine Global Finance has announced its twenty-fourth annual awards for the Central & Eastern Europe banks that accomplished outstanding results last year.  The Best Bank Lithuania award has been granted to Šiaulių Bankas for the third year in a row (2015, 2016, 2017).

In 2016, the Best Bank in Lithuania award was granted to Šiaulių Bankas by another solid business magazine The Banker.  The same year Global Banking & Finance Review recognized the bank as the Best SME bank in Lithuania 2016 and in the prestigious European Business Awards Šiaulių Bankas AB was among the European companies claiming for The ELITE Award for Growth Strategy of the Year.

"We work to increase Šiaulių Bankas's visibility on the international stage.  Each solid award raises the bank's awareness - recently we have received increased attention from the financial markets, financial institutions, analysts, and investors" - said Chief Executive Officer of Šiaulių Bankas.

According to V. Sinius,  in other Baltic states the Global Finance awards have been given to the foreign capital banks whereas in the Lithuania the local bank has been recognized as the best for the third year in a row - this fact highlights the  uniqueness  of Šiaulių Bankas  and its ability to successfully compete in the market with large international banks having considerable resources.

All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.  Global Finance considered criteria that range from growth in assets, profitability, strategic relationships to new business development and innovation in products. Account was also taken of the subjective criteria which included the opinions of equity analysts, credit rating analysts, and banking consultants. 

According to Joseph D. Giarraputo, publisher and editorial director of Global Finance, the awards went to banks that excelled at delivering customers the services and products tailored to meet their unique needs. "These banks may not be the biggest or oldest, but their energy and adaptability make them stand out in the field," - emphasized the Global Finance representative.