Šiaulių bankas

Šiaulių bankas is a major commercial bank in Lithuania providing retail and commercial banking services.^[2][3]

AB Šiaulių bankas

Šiaulių bankas branch in Šiauliai
Company type	Public company
Traded as	Nasdaq Baltic: SAB1L
Industry	Financial services
Founded	4 February 1992; 33 years ago (1992-02-04)
Headquarters	Šiauliai , Lithuania
Key people	Vytautas Sinius (Chairman and CEO)
Products	Retail banking, mortgage loans, corporate banking
Revenue	€125.483 million (2022)[1]
Operating income	€76.530 million (2022)
Net income	€63.614 million (2022)
Total assets	€3.029 billion (2022)
Number of employees	867
Website	sb.lt

It has been designated in 2019 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.^[4]

History

Šiaulių bankas was established in 1992.^[2] The bank took over assets from Ūkio bankas totaling LTL2,7 billion in 2013, for which the European Bank for Reconstruction and Development (EBRD) granted the bank a loan of LTL69 million.^[5][6]

As of 2018^[update] the largest shareholder of the company was the EBRD, owing 26% of the company's stock after converting loans to the bank into shares.^[2][7] In 2021, 18% of the Banks shares held by the EBRD were sold to Invalda INVL, Nord Security and ME investija.^[8]

The bank merged Invalda INVL and its retail business in 2023, creating a new company headed by the former INVL Investment Management director.^[9][10]

Since 1994 (in Secondary List) and since 2006 (in Main List), the company is listed in Nasdaq Vilnius.^[2] In 2022, the bank reported a profit of over €63 million and a loan portfolio of €2.6 billion.^[11]

Significant shareholders

As of 30 September 2024^[12]

• AB "Invalda INVL" / UAB „INVL Asset Management“ – 19.93%
• UAB Willgrow – 8.97%
• European Bank for Reconstruction and Development – 7.25%
• UAB Tesonet Global – 5.32%
• Algirdas Butkus & family – 5.06%
• Gintaras Kateiva & family – 4.91%

According to the company's bylaws, all shareholders are required to keep the package of their stakes at a maximum of 20 percent. This led to Invalda donating some of their shares to Butkus & Kateiva to keep their stake under the threshold.^[13]