Šiaulių Bankas has financed a renovation of 1,500th multi-apartment house

2018-01-24

Šiaulių Bankas has signed a 1,500th agreement to finance the renovation of a multi-apartment house. The credit agreement for renovation of the house located on Aukštaičių street in Ignalina has been signed with the company Ignalina Butų Ūkis.

"From nearly two and a half thousand of all finished and still carried out renovations of multi-apartment houses, 1,500 were financed by Šiaulių Bankas, in 2017 alone we signed 280 credit agreements. We are pleased to have already contributed to much warmer and efficient apartments. Symbolically, the jubilee credit agreement was signed with the apartment house in Ignalina - this municipality in Lithuanian is considered to be exemplary according to the number of renovated houses as almost the whole city has used opportunities to refurbish, - said Chief Executive Officer of Šiaulių Bankas Vytautas Sinius.

1 500th renovation financed by Šiaulių Bankas will be made to the  house built in 1993 on Aukštaičių street in Ignalina. Renovation will include a replaced roof, new windows and doors, insulated building's walls and foundation. In total, Šiaulių Bankas has provided funding for renovation of   93 apartment houses in Ignalina, 78 of which have already been renovated.

"We have set the goal to renovate all multi-apartment buildings in Ignalina and we are approaching it rapidly. At the moment, there are 25 multi-apartment houses in the town which are not renovated yet, however, for the  contractors have been selected or procurement procedures are carried out with respect to them, therefore,  it may be that by the end of this year entire Ignalina will be renewed", - said Antanas Gylys, Head of Ignalinos Butų Ūkis UAB.

According to A. Gylys, the success of renovation projects in Ignalina is determined both by the effective management of such projects and the favourable attitude of the population.

According to the latest information from the Housing Energy Efficiency Agency, 494 apartment houses are currently being renovated throughout the country, mostly in the three largest cities of the country. 1923 apartment houses have been renovated in Lithuania since 2013.

"Šiaulių Bankas has been one of the most important financial partners of the programme over the last five years. I believe that the bank's  experience in funding multi-apartment renovation projects will contribute significantly to the successful implementation of one of the priority government programmes in the future as well," - said Valius Serbenta, Director of Housing Energy Efficiency Agency.

Two of the three renovated apartment houses in Lithuania are financed by Šiaulių Bankas. Actively cooperating with the European Investment Bank, Šiaulių Bankas offers JESSICA  financial facility for renovation purposes. At present, the Bank has made 300 decisions on new multi-apartment finance projects for 100 million euro. It also invests its own funds in renovation projects and has already allocated 180 million euro for this purpose.