OREANDA-NEWS. April 18, 2008.
1. On the imposition of an enforcement measure to PAREX BANKAS
The Board of the Bank of Lithuania was informed that PAREX BANKAS did not ensure a timely provision of certain obligatory information, as required by the Republic of Lithuania Law On Banks. It was ascertained during the inspection of the bank, reported the press-centre of Bank of Lithuania. 

PAREX BANKAS did not provide the annual financial statements, draft decision on the profit distribution and the auditor’s report to the Bank of Lithuania before the ordinary general shareholders’ meeting.

It was decided not to impose any enforcement measures due to this fact, since this violation of the law did not have any significant impact on the interests of shareholders and other creditors and stability and reliability of the bank and the banking system, no enforcement measures had been imposed on PAREX BANKAS earlier, and the bank provided the obligatory information on the next business day after the ordinary general shareholders’ meeting.

2. Permission to reorganise AB Sampo bankas and Danske Bank A/S
The Board of the Bank of Lithuania gave permission for the reorganisation AB Sampo bankas by merging it with the Danish bank Danske Bank A/S and by transferring all rights and obligations of AB Sampo bankas to the branch of Danske Bank A/S established in the Republic of Lithuania.
The bank Danske Bank A/S is the sole shareholder of AB Sampo bankas.

On 3 December 2007, the Board of the Bank of Lithuania agreed to the reorganisation of Sampo bankas by its merger with Danske Bank A/S.

According to the documents submitted, the assets of Sampo bankas will be transferred to the branch of Danske Bank A/S established in the Republic of Lithuania. This branch will continue its operation at the same premises, where Sampo bankas operates at present.

3. Graphic designs of the 50 litas commemorative coin issued for participation in the silver coin programme “Europe. European Cultural Heritage”

The Board of the Bank of Lithuania approved the results of the tender for graphic designs of the 50 litas commemorative coin issued for participation in the silver coin programme “Europe. European Cultural Heritage”. The design by Rytis Jonas Belevicius was granted the first place, with the designs by Stasys Leonas Makaraitis and Liudas Parulskis ranking second and third.

The Board approved the graphic designs of the obverse and the reverse of the coin created by Rytis Jonas Belevicius.

The Board also approved the inscription on the edge of the coin: LIETUVOS BANKAS (twice).
It is planned to issue this commemorative coin in the second quarter of 2008.