Šiaulių Bankas Group’s Profit Increased by Three Times



Last year Šiaulių bankas Group earned LTL 22.7 million in pre-audited net profit, i.e. by almost three times more than in 2005 when net profit reached LTL 7.6 million.

According to the Chairman of the Šiaulių Bankas Board Algirdas Butkus good results of Šiaulių Bankas Group’s enterprises were caused by the flexible, efficient and transparent activities of the Bank’s subsidiaries, expanding circle of the Bank’s clients as well as successfully implemented projects of the Bank’s subsidiaries.

In comparison with 2005 Šiaulių Bankas Group’s assets increase by 30 per cent last year and late in the year reached LTL 1.387,5 million while all Group’s shareholders’ equity increased by 82 per cent up to LTL 187 million.

Last year a liquidation process of the one of the Bank’s subsidiaries “Šiaulių banko faktoringas” UAB was performed.

At the moment Šiaulių Bankas Group consists of the following subsidiaries: “Šiaulių banko lizingas” UAB, “Šiaulių banko turto fondas” UAB, “Šiaulių banko investicijų valdymas” UAB and “Pajūrio Alka” UAB the sales procedures of the latter is planned to be completed this year.