Lithuania Mulls Bank Merger With EBRD Assistance, Eversus Says

Lithuania’s central bank is seeking a merger of AB Ukio Bankas (UKB1L) and AB Siauliu Bankas with the help of the European Bank for Reconstruction and Development, Eversus reported, without saying where it got the information.

The plan would avert deterioration of the unprofitable Ukio Bankas and create the Baltic nation’s third biggest lender by deposits, after local units of SEB AB and Swedbank AB (SWEDA), the online business magazine said. The EBRD has been the largest shareholder of Siauliu Bankas since 2005, Eversus said.

The Bank of Lithuania won’t comment on the report, its spokesman Giedrius Simonavicius said by phone in Vilnius today when contacted by Bloomberg.

The EBRD won’t comment on the transaction, Head of Media Relations Anthony Williams said by phone from London.

“We continue our work with Siaulu Bankas, a long-standing partner of the EBRD in Lithuania,” he said. “As always, the EBRD will review opportunities as they arise.”

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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