Šiaulių Bankas Steps to Another Level


It is possible that share trading of rapidly growing Šiaulių bankas will be started from the Official Trading List in Vilnius Stock Exchange already this year – on 20th of November the Board of Šiaulių Bankas decided to submit an application to the Stock Exchange regarding the enrollment of shares in the mentioned List.

Successful development and constantly growing activity results indicate that Šiaulių Bankas strengthens its position in the market more and more. According to the Senior Management, the Bank is absolutely ready and in full compliance with the stricter requirements established by the Stock Exchange to the companies willing to enroll their securities into the Official Trading List. At the moment shares of Šiaulių Bankas are quoted in the Current Trading List.

“The Official Trading List has higher requirements but at the same time provides more opportunities, - says the Chairman of the Board Algirdas Butkus. – We suppose that due to the constantly increasing results of the banking activity during the recent years, most positive financial ratios and high reputation the shares of Šiaulių Bankas become more and more popular – the number of shareholders is increasing. We have noticed a tendency that those who have invested into the Bank’s shares are not in a hurry to sell them as the strategic attitude towards our shareholders “is blocking” it. Already fourth year in turn the Bank has been issuing free share issues; the authorized capital is increased from additional contributions by issuing new shares at lower than market price – all of the mentioned are protectors activated by the Bank itself which protect an investor from short-term share rate fluctuations and at the same time allows longer-term investments into the Bank’s shares.”

In summer of 2003 the trading in shares of Šiaulių bankas in the Stock Exchange became more active, at that time the nominal value of share was changed and the Bank issued shares from its own funds. Since that time a tendency of constantly increasing share rate is being observed in general. This year shares of Šiaulių bankas have also been actively traded in the Stock Exchange: since the beginning of the year 12,6 million of shares have been transferred in total, the total amount of the made transactions has reached LTL 41 million. On Monday’s trading session a price per share of the last transaction was LTL 3,22. The Bank’s capitalization at this price is LTL 302,8 million. Šiaulių bankas is planning to increase it attractiveness to the investors further as well as to demonstrate prospective pace of growth.

During three quarters of this year the Bank has earned LTL 11,623 million in pre-audited net profit. In comparison with the same period last year the Bank’s net profit has increased by 65 per cent. During the same period the Bank’s loan portfolio at its fair value has increased by 29 per cent in comparison with September 30th 2005, the Bank’s deposits and letters of credit have increased by 33 per cent.

During 2006, the Bank is planning to earn not less than LTL 12 million in net profit, i.e. by one and a half time more than last year.

At  present assets of Šiaulių Bankas reach LTL 1302,9 million and its authorized capital is LTL 94 million.