OREANDA-NEWS. March 05, 2013. The Supervision Service of the Bank of Lithuania allowed including the subordinate loan granted to Siauliu bankas by the European Bank for Reconstruction and Development (EBRD) into the Tier II capital of Siauliu bankas.

The EBRD, biggest shareholder of Siauliu bankas , has granted the subordinate loan of EUR 20 million (about  LTL 69 million) to Siauliu bankas for the period of 10 years to facilitate the takeover of  the assets and liabilities of the troubled Ukio bankas. The received loan will strengthen the capital base of Siauliu bankas.
 
“The subordinated loan granted to Siauliu bankas by the European Bank for Reconstruction and Development will  accelerate the process of takeover of the banking activities of Ukio bankas and secure better access to finance for Lithuanian businesses”, - says Audrius Ziugzda, Chief Executive Officer of Siauliu bankas”.

As of December 31, 2012 the capital adequacy ratio of Siauliu bankas comprised 12.8 per cent (the prudential requirement set to the capital adequacy by the Bank of Lithuania should not be below 8 per cent.).