The international financial magazine Global Finance recognized Šiaulių bankas as the safest bank in Lithuania
This year the international business and finance magazine Global Finance granted a prestigious nomination to Šiaulių bankas. Global Finance, a magazine focusing on banking business and financial issues worldwide, carried out the annual ranking of the world's banks and other financial institutions. Election of the world's safest banks in 2014 for the first time has included such ranking as the world's safest bank by country. In the country-by-country category Global Finance has named Šiaulių bankas as the safest bank in Lithuania.
“Banks were selected through an evaluation of long-term credit ratings — from Moody’s, Standard & Poor’s and Fitch — and total assets of the banks. 500 banks from all over the world have been evaluated while compiling the list of the World's safest banks", - said the editor of Global Finance.
Such evaluation of the Global Finance experts was unexpected to us - the banks have not been informed about the evaluation procedure as the experts' decision was based on the data from independent agencies. These nominations are based on the assessments of the world-class professionals - that’s why this opinion is highly important to us. Being a Lithuanian bank we seek to recognise the needs of our clients in Lithuania and provide them with appropriate financial solutions. Of course, we are pleased to gain international recognition as the result. It is an important factor contributing to the financial stability of the entire country and strengthening of the banking sector in Lithuania", - said Chief Executive Officer of Šiaulių bankas Vytautas Sinius.
In 2013 the international rating agency Moody’s updated financial strength ratings and granted Šiaulių bankas with a long-term credit rating - B1, short-term credit rating - NP, financial strength was rated at E+ and the rating outlook was recorded as developing.
This is not the first award granted to Šiaulių bankas. Last year the international magazine "The Banker" issued by „The Financial Times“ awarded Šiaulių bankas as "The Best Bank in Lithuania' 2013", the German bank Commerzbank awarded Šiaulių bankas with Straight-Through Processing Award 2013 for a fully automated and top quality performance of international transactions for the third year in turn.