Šiaulių bankas congratulates all its clients on 15 years of successful partnership


Šiaulių bankas is commemorating an anniversary of 15 years of activities. Starting its activities in Šiauliai, today it is the Bank of the whole Lithuania and is meeting its jubilee with good results, rapid growth as well as international recognition.

In 1992 Šiaulių bankas started its activities with LTL 160 thou of the authorized capital and clear vision of partnership with small and medium-sized enterprises (SME). The Bank encourages SME development in the country, actively finances municipal and regional projects and sponsors sports, cultural and educational events.

In 2005 the European Bank for Reconstruction and Development became the biggest shareholder of the Bank, however, Šiaulių bankas still remains one of the biggest Lithuanian capital banks as 71% of the Ban’s authorized capital the amount of which is LTL 109 million belongs to the residents, enterprises and individuals of Lithuania.

In 2005 the prestigious banking magazine “The Banker” announced 50 fastest growing banks of Middle and Eastern Europe. Šiualių bankas took 19th place in this List. In May 2006, the magazine “Euromoney” announced the results of research held on the best companies of Middle and Eastern Europe where the strategy of Šiaulių bankas was acknowledged as one of the most consecutive and purposeful.

2006 was extremely successful. The preliminary pre-audited net profit of the Bank has increased by 68.4% in comparison with 2005 up to LTL 13.6 million. This result has been achieved by 440 youthful and professional employees all over Lithuania. Though small and medium-sized business still remains the strategic clients, however retail banking sector is growing very rapidly, at the moment it comprises 100 thou of individuals and legal entities. Šiaulių bankas has 49 outlets in 29 towns all over Lithuania.

According to the Chairman of the Board of Šiaulių bankas Algirdas Butkus, “after many years of the successful collaboration with its clients, the Bank knows that a good partnership is a priceless asset which assures a smooth and good performance as well as good results”.

The Bank enters into 2007 with the vision of constant growth – it plans to increase the net profit by one and a half times up to LTL 22 million while the Bank’s assets have to increase by 26% in comparison with the last year. Regardless to it ambitious plans the Bank still remains close to the client being flexible, fast and reliable partner.