Šiaulių bankas is getting ready to one more syndicated loan


The German bank HSH Nordbank and the third biggest Austrian bank Raiffeisen Zentralbank Osterreich Aghave were pleased to announce that have been mandated to arrange a syndicated loan to Šiaulių bankas.

The amount of the loan being arranged by two western banks totals EUR 15 million. It will be granted with a one-year maturity and three-year maturity terms. The HSH Nordbank has also granted a credit line to Šiaulių bankas earlier.

A long-term additionally raised funds will enable Šiaulių bankas to develop its activities providing funding to the bigger projects and granting the better conditions to its clients to foster their business. Currently, Šiaulių bankas has raised EUR 34 million in the form of syndicated loans.

After registering the amended Charter this week, the authorized capital of Šiaulių bankas has increased by 11 per cent and is exceeding LTL 121 million at the moment. During the first quarter Šiaulių bankas has earned LTL 9.2 million in net profits, i.e. by 53 per cent more in comparison with the same period last year. During 2006 the bank’s assets have increased by 30 per cent up to LTL 1.35 billion while the amount of the deposits with the bank has grown by one fourth and the number of loans granted to the clients has been by 36 per cent bigger.

Since its very establishment Šiaulių bankas has been focusing on small and medium-sized business and retail banking. Over 100 thou of customers availed themselves of the services rendered by Šiaulių bankas at 49 regional outlets all over Lithuania.