Šiaulių bankas AB is ready to start negotiations with Bank of Lithuania regarding takeover of Ukio bankas banking business in Lithuania


Šiaulių bankas bankas is ready to start negotiations with the Bank of Lithuania regarding takeover of Ukio bankas banking business in Lithuania pursuing to restore the activities of Ūkio bankas as soon as possible and to maintain the stability of the financial system. Šiauliu bankas is interested in solving this situation as soon as possible without any major negative consequences for the clients of Ukio bankas and the entire banking system of Lithuania. 

"Šiaulių bankas is financially solid for such step and has transparent shareholders’ structure. These plans are supported by the largest shareholder of Šiaulių bankas European Bank for Reconstruction and Development (EBRD), - said Audrius Žiugžda, CEO of Šiaulių bankas. According to him, the bank was always looking for expansion opportunities and this goes in line with the shareholders' strategy. Takeover of the transparent assets and liabilities of Ūkio bankas in Lithuania would increase the market share of Šiaulių bankas and it would increase the competitiveness in the Lithuanian banking market. It would be a precedent for the development of a strong Lithuanian bank.

“I am confident, that Šiauliu bankas management and all of its employees will ensure that services are restored to former Ūkio bankas clients as soon as possible, - said Peter Reiniger EBRD’s board nominee on Šiaulių bankas Supervisory Council.

Set up and use of the same IT platform and a common ATM network provides good possibilities to ensure a smooth and rapid service restoration for customers of Ūkio bankas. Šiauliu bankas will offer the assistance to help ensure continuity of business for Ūkio bankas clients, establishing convenient network of customer service and also providing new opportunities arising from the bank's development.