OREANDA-NEWS. November 14, 2008.
1. On the results of inspection of the Danske Bank A/S Lithuania Branch
The Board of the Bank of Lithuania was informed about the results of the inspection of the Danske Bank A/S Lithuania Branch. Correctness of the preparation of financial statements and reports for supervisory purposes submitted to the Bank of Lithuania, the way of ensuring the compliance of the liquidity ratio and the effectiveness of the internal control system were examined, reported the press-centre of Bank of Lithuania.

Also, by way of sampling, the compliance of the data entry into the Loan Risk Database with requirements approved by the Board of the Bank of Lithuania was checked.

The reorganisation of AB Sampo bankas was finished on 2 June 2008 and it became Danske Bank A/S Lithuania Branch. Having taken over all rights, assets and liabilities of AB Sampo bankas, Danske Bank A/S continues the business performed by the former bank.

The liquidity risk management in the Lithuania Branch is performed in accordance with unified risk management principles applied for the Danske Bank A/S Group and the risk level of the Branch is controlled on the Group scale.

The Credit Institutions Supervision Department was obligated to inform the credit institution Danske Bank A/S of the Kingdom of Denmark and the Supervisory Authority of the Kingdom of Denmark about the inspection results of the Danske Bank A/S Lithuania Branch.

2. On the inclusion of a subordinated loan in the capital of the UAB Medicinos bankas.
The Board of the Bank of Lithuania granted permission to the UAB Medicinos bankas for a five year term subordinated loan of 10 000 000 euros (equivalent of LTL 34 528 000) from the bank shareholder Saulius Karosas to be included into Tier II capital of the bank.

Upon including the new subordinated loan in Tier 2 capital of the bank, the UAB Medicinos bankas would rise the capital base to LTL 125 million, according to the data for 1 November 2008.

As stated in the bank request, the inclusion of the new subordinated loan into Tier II capital would result into strengthening of the capital base.

3. On the amendment of Resolution No. 109 ”On Providing Information Relating to the Taking up and Pursuit of the Business of Credit Institutions to the Commission of the European Communities and to the Supervisory Authorities of Credit Institutions of the European Union Member States ”of the Board of the Bank of Lithuania of 20 November 2003.

The Board of the Bank of Lithuania changed the procedure on the provision of information relating to the taking up and pursuit of the business of credit institutions to the European Commission and to the supervisory authorities of credit institutions of the Member States of the European Union (EU).

This was done with regard to the Directive of the European Parliament and EU Council containing no former requirements when the EU states had to submit the mentioned information.