Integration of the bank Finasta and brokerage firm Finasta into Šiaulių Bankas has been successfully finished

2015-12-21

Reorganization of the bank Finasta AB and brokerage firm Finasta AB merging these companies with Šiaulių Bankas AB has been closed.  The clients of the rearranged companies and Šiaulių bankas can already take advantage of the united forces in the customer service points of Šiaulių banks and logging to the on-line banking system.

After registration of the new Charter of Šiaulių Bankas AB  and deregistration of the bank Finasta AB and brokerage firm Finasta from the Register of Legal Entities on 21 December 2015, Šiaulių Bankas has taken over all assets, rights and liabilities of these two companies and completed their reorganization.  

"Ending the year 2015 which proved to be very vivid and dynamic for Šiaulių Bankas we are about to complete another very important stage of the development when two financial institutions have been smoothly injected into the bank achieving a synergy effect pursued from the very  moment of their acquisition. The Bank has further strengthened its capacity and is ready to keep building a high customer servicing level. The on-going market development and customers' needs require continuous  improvement in such area as know-how, services and quality of their provision aiming to assist the clientèle in creating their financial welfare and keeping pace with the advanced technologies", - Chief Executive Officer of Šiaulių Bankas Vytautas Sinius is commenting on the importance of integration and further steps to be taken.

According to Vytautas Sinius, the current stage is a planned outcome of Šiaulių Bankas performance which provides grounds for its new business development opportunities. After the successful completion of reorganization, Šiaulių Bankas currently employs 700 employees who are servicing the clients in  70 customer service points.   The network of Šiaulių Bankas is spread over 38 towns of the country.

In addition to the daily financial services, Šiaulių Bankas currently offers individual investment services, professional investment advice, formation and management of an individual portfolio as well as variety of options in the area of securities trading and conclusion of respective transactions. Moreover, Šiaulių Bankas provides an opportunity to accumulate pensions in the private pension funds managed by the asset management company INVL Asset Management which is closely cooperating with the Bank. Recently significantly expanded range of investment services is introduced in the updated section called Interested in Investments on the website of Šiaulių Bankas at www.sb.lt.

On 17 July 2015 Šiaulių Bankas acquired 100 per cent of the shares of the bank Finasta and brokerage firm Finasta AB. On 23 September, the Management Board of the Bank passed a resolution to rearrange the bank Finasta AB and brokerage firm Finasta AB by merge with Šiaulių Bankas AB. In autumn, the specialists of these companies have started operating in the Head Office of Šiaulių Bankas in the centre of the capital. Last weekend ( 19-20 December) the clients' account were transferred from the bank Finasta to the information system of Šiaulių Bankas.