Šiaulių bankas has earned one and a half time more during this half-year


During the first half-year of 2007 Šiaulių bankas has earned LTL 20,5 million in pre-audited net profits, i.e. almost by 2,5 times more comparing to the same period last year - the half-year profit exceeds the bank’s net profit earned during the entire last year by one and a half times.

As of June 30th 2007 the total amount of assets run by Šiaulių bankas, operating in 49 outlets all over Lithuania, reached LTL 1,7 billion. The bank’s assets have increased by LTL 437,9 million (36 per cent) in comparison with the same period last year. Striving to strengthen its own capital base and to allow the increase of the managed assets Šiaulių bankas is recently planning disseminate a new share issue amounting in LTL 40 million which will be the second one this year and after the registration of which the bank’s authorized capital will reach LTL 161 million.

All over the year Šiaulių bankas has been actively operating in various banking fields. The amount of clients’ deposits and letters of credit with the bank has grown by 22 per cent up to LTL 1,1 billion reckoning from June 30th 2006 to June30th 2007. A pace of client loan portfolio growth was 43 per cent, i.e. LTL 348 million were added to it during the year and it has reached LTL 1,2 billion at the end of June this year. Šiaulių bankas, which takes the leading position in financing small and medium-sized business, has allocated 78 per cent of lending funds to SMEs. The portfolio of consumer loans granted by the bank has grown by 96 per cent during the year.

The bank has been also expediting the growth of credits by attracting international funding sources - in March the Council of Europe Development Bank (CEB) has granted a credit line amounting in EUR 10 million to provide funding to small and medium-sized business, in June the bank has signed a syndicated loan agreement for EUR 30 million, which is the biggest commercial loan ever granted to the bank up to now. It has been provided by the thirteen European banks.

As of June 30th 2007 Šiaulių bankas rendered its services to 106,1 thou of private and corporate customers. The number of payment cards issued by Šiaulių bankas has increased by 10 per cent, the number of users of the Internet service system “SB linija” has increased by one third while the number of users of the telephone banking “SMS bankas” has grown by 1,4 times estimating from the beginning of the year.

The shares of Šiaulių bankas are quoted in the Official Trading List of Vilnius Stock Exchange. On Tuesday the closing price of the bank’s share was LTL 4,13.