Šiaulių bankas is increasing its authorized capital by 15 mln litas from its own funds

2013-03-28

During the General Shareholders‘ Meeting of Šiaulių bankas held on March 28, 2013 it was resolved to increase the bank‘s authorized capital from the bank‘s own funds by LTL 15 142 467, i.e. from LTL 234 857 533 to LTL 250 000 000 by issuing 15 142 467 new ordinary registered shares.

The issued shares shall be distributed to the shareholders free of charge in proportion to the total nominal value of shares owned by them at the end of the day (April 12) of accounting of rights of the Meeting (6,4475%).

In February 2013 the European Bank for Reconstruction and Development (EBRD) contributed to strengthening of Šiaulių bankas capital base by granting a subordinated loan of EUR 20 million (LTL 69 million) for the period of ten years which would be included into the Tier II capital of Šiaulių bankas thus supporting the active growth of Šiaulių bankas‘ assets and its development taking over a part of Ūkio bankas’ assets and liabilities. The last time Šiaulių bankas increased its authorized capital in August 2011.

 

In the General Shareholders‘ Meeting conducted on Thursday the shareholders of Šiaulių bankas decided to increase the number of Supervisory Council‘s members up to 8, however, the new member shall not be elected to the eighth vacancy in the Supervisory Council. Currently the Supervisory Council of Šiaulių bankas consists of 7 member. Its tenure shall over in 2016.

The Shareholders‘ Meeting was introduced to the consolidated annual report of Šiaulių bankas as well as to conclusions of the audit agency and approved the set of consolidated financial statements of the Šiaulių bankas‘ Group for 2012.

Considering the successful bank‘s performance results the Meeting decided to pay the symbolic dividends to the shareholders, i.e. 0.5 per cent from the nominal value of the share.

 

In 2012 Šiaulių bankas earned LTL 14.9 mln of net profit which is by 16 per cent better result than in 2011. The net profit of Šiaulių bankas‘ Group reached LTL 13. million. The successful result was significantly influenced by 13 per cent increase in the number of clients.