The authorized capital of Šiaulių bankas increased by 12 per cent


The amended Charter of Šiaulių bankas with the authorized capital of LTL 180 357 533 was registered at the Register of Legal Entities of the Republic of Lithuania on May 14th 2008. This capital is by 12 per cent bigger than the previous one.

The shareholders of Šiaulių bankas decided to increase the authorized capital from the bank’s own funds during the General Shareholders’ Meeting held on 27th March 2008. It has been decided to increase the authorized capital from the capital reserve (emission difference) by LTL 19 324 021 issuing the same number of ordinary registered shares with LTL 1 par value. They are allocated to the shareholders free of charge in proportion to the number of shares own on the Meeting day, i.e. by 12 per cent to each.

During the Meeting held on 29th of April the Board of the Bank of Lithuania allowed Šiaulių bankas to register the Charter amended due to the capital increase.

“The bank’s capacities are growing together with the increasing authorized capital bringing new possibilities for business development, implementation of the efficient decisions and development plans, which are pretty ambitious at Šiaulių bankas”, - said Algirdas Butkus, the Chairman of the Board of Šiaulių bankas.

The managers of securities accounts shall distribute the new shares to the shareholders next week when the Central Securities Depository of Lithuania makes records in the general share issue account of Šiaulių bankas.

The last increase of Šiaulių bankas’ authorized capital took place in September last year and comprised LTL 161 033 512 since then. Šiaulių bankas is keeping to its consistent strategy of issuing two new share issues annually: one of them - from the bank’s own funds, another - by additional contributions.

Services rendered by Šiaulių bankas are available for private and corporate customers all over Lithuania where the bank possesses 60 outlets. In 2007 iaulių bankas earned LTL 27,248 million in audited net profit, i.e. almost twice as much as in previous year.