September 23, 2017 8:07 AM ET

Banks

Company Overview of Siauliu Bankas AB

Company Overview

Šiauliu Bankas AB provides commercial banking services to private and corporate customers in the Republic of Lithuania. Its banking products and services include various time deposits, child’s deposits, accumulative deposits, and savings deposits; consumer credits, credit with pledge, mortgage loans, credits for farmers, and short-term and long-term credits, as well as multi-apartment house renovation loans; and structural funds, payments, cash operations, payment cards, and documentary payments and guarantees. The company also provides e-banking, foreign exchange, factoring, foreign exchange, and leasing services, as well as other banking services. In addition, it offers investment products...

Tilžes str.149

Šiauliai,  76348

Lithuania

Founded in 1992

811 Employees

Phone:

370 41 595 607

Fax:

370 41 430 774

Key Executives for Siauliu Bankas AB

Siauliu Bankas AB does not have any Key Executives recorded.

Siauliu Bankas AB Key Developments

AB East West Agro Terminates Market Maker Services Agreement with AB Šiauliu Bankas

From September 21, 2017, AB East West Agro announced that the company is terminating a market maker services agreement with AB Šiauliu Bankas.

Siauliu Bankas Announces Unaudited Standalone and Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Siauliu Bankas announced unaudited standalone and consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, on standalone basis, the bank announced net interest income of EUR 11,449,000 against EUR 10,575,000 a year ago. Net fee and commission income was EUR 2,431,000 against EUR 2,223,000 a year ago. Operating profit before impairment losses was EUR 4,358,000 against EUR 11,021,000 a year ago. Profit before income tax was EUR 4,728,000 against EUR 8,400,000 a year ago. Net profit attributable to owners of the Bank was EUR 4,551,000 against EUR 7,930,000 a year ago. For the six months, on standalone basis, the bank netted EUR 19.777 million in profit, down by 30.9%, from EUR 28.606 million, year-on-year. The banking group posted EUR 19.237 million in net profit in January-June this year, which is an annual decline by 26.7%. Net interest income was EUR 22,421,000 against EUR 23,600,000 a year ago. Net fee and commission income was EUR 4,884,000 against EUR 4,442,000 a year ago. Operating profit before impairment losses was EUR 14,787,000 against EUR 32,469,000 a year ago. Profit before income tax was EUR 22,316,000 against EUR 31,980,000 a year ago. Net cash flow from operating activities was EUR 40,064,000 against net cash flow used in operating activities of EUR 27,653,000 a year ago. Acquisition of property, plant and equipment, investment property and intangible assets was EUR 353,000 against EUR 1,199,000 a year ago. For the quarter, on consolidated basis, the bank announced net interest income of EUR 13,330,000 against EUR 12,383,000 a year ago. Net fee and commission income was EUR 2,503,000 against EUR 2,247,000 a year ago. Operating profit before impairment losses was EUR 6,906,000 against EUR 11,482,000 a year ago. Profit before income tax was EUR 6,166,000 against EUR 9,225,000 a year ago. Net profit attributable to owners of the Bank was EUR 5,803,000 against EUR 8,508,000 a year ago. For the six months, on consolidated basis, the bank announced net interest income of EUR 27,488,000 against EUR 27,306,000 a year ago. Net fee and commission income was EUR 5,031,000 against EUR 4,476,000 a year ago. Operating profit before impairment losses was EUR 20,330,000 against EUR 34,374,000 a year ago. Profit before income tax was EUR 22,495,000 against EUR 30,011,000 a year ago. Net profit attributable to owners of the Bank was EUR 19,237,000 or EUR 0.04 per basic and diluted share against EUR 26,241,000 or EUR 0.06 per basic and diluted share a year ago. Net cash flow from operating activities was EUR 46,173,000 against net cash flow used in operating activities of EUR 8,576,000 a year ago. Acquisition of property, plant and equipment, investment property and intangible assets was EUR 204,000 against EUR 2,236,000 a year ago.

Šiauliu Bankas Appoints Miha Košak as Member of the Supervisory Council

Following the resolution of the Director of the Supervisory Service of the Bank of Lithuania dated 26 June 2017, Miha Košak has been allowed to become a member of the Supervisory Council of the Siauliu Bankas. Miha Košak was elected to the Bank’s Supervisory Council during the General Meeting of Shareholders held on 30 March 2017. The Meeting passed the resolution according to which Miha Košak shall start taking his offices only upon receiving the respective permission from the Bank of Lithuania.

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