Šiaulių bankas AB Group – a volume of the entire business sectors is further growing


The assets managed by Šiaulių bankas’ Group have increased by LTL 546 million (45 per cent) during the year - from September 30th 2006 to the same day in 2007- and totalled LTL 1,93 billion. The consolidated shareholders’ equity of Šiaulių bankas has reached LTL 276,9 million during the third quarter of this year, i.e. it has doubled in the course of a year.

“We have chosen the right pace, strategically arranged our actions and worked in compliance with the plans - these are the main reasons causing growth and efficiency of our activities. We have implemented the active sales policy, assessed a positive inhabitants and enterprises’ view towards borrowing and managed to satisfy their needs, - said the Chairman of the Board of Šiaulių bankas Algirdas Butkus.

At the end of the third quarter of this year according to pre-audited data the Group’s net profit comprised LTL 20,87 million. While the Bank’s net profit reached LTL 24,20 million, i.e. by 13 per cent more than planned and twice as much as during the analogical period in 2007.

Due to successful operations of subsidiaries and increasing demand in lending services during the year Šiaulių bankas’ Group has increased its loan portfolio by 61 per cent in comparison to the data of the end of the third quarter in 2006, i.e. up to LTL 1,28 billion. The financial lease portfolio of “Šiaulių banko lizingas”, the subsidiary belonging to the Group, has increased by LTL 57 per cent and overrun LTL 115 million. During the same period the loan portfolio of Šiaulių bankas has grown by 63 per cent up to LTL 1,3 billion. The Bank has mainly provided funding to projects implemented by trading companies, to real estate sector as well as industrial companies’ business. The companies located in Šiauliai, Vilnius, Klaipėda and Utena regions have received the most of lent funds. Loans to private customers comprise approximately one fifth of the Bank’s loan portfolio.

Deposits with the bank keep growing due to the increasing inhabitants’ income and rising volumes of the companies’ business - according to the data of September 30th they have totalled LTL 1,14 billion, i.e. their amount has increased by one fifth in comparison with the same time last year. The increasing number of the bank’s clients result in a bigger quantity of e-banking users - almost 70 per cent of all the payments have been performed via the Bank’s internet service system “SB linija”. Šiaulių bankas renders its services to more that 110 thou of its clients all over Lithuania.

During the second half-year Šiaulių bankas has been further expanding its service network. Already the seventh outlet has been opened in September in Vilnius. Šiaulių bankas AB with its 50 outlets operating in Lithaunia and 3 subsidiaries -  “Šiaulių banko lizingas” UAB, “Šiaulių banko turto fondas” UAB and “Šiaulių banko investicijų valdymas” UAB form Šiaulių bankas’ Group.