Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Lithuania Mulls Bank Merger With EBRD Assistance, Eversus Says

Don't Miss Out —
Follow us on:

Dec. 19 (Bloomberg) -- Lithuania’s central bank is seeking a merger of AB Ukio Bankas 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, 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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.