OREANDA-NEWS. March 30, 2010. 1. On the results of the inspection of Svenska Handelsbanken AB Lithuania Branch.

The Board of the Bank of Lithuania was informed about the results of the inspection of Svenska Handelsbanken AB Lithuania Branch.
Correctness of the preparation of financial statements for supervisory purposes submitted to the Bank of Lithuania, the way of ensuring the compliance with the liquidity ratio, the effectiveness of the internal control system, and compliance with the legislation regulating money laundering and terrorist financing in the credit institution Svenska Handelsbanken AB Lithuania Branch was assessed. By way of selective check-up, compliance with the requirements, approved by the Board of the Bank of Lithuania for the management of the Loan Risk Database was checked.

Svenska Handelsbanken AB Lithuania Branch was instructed to remove by 1 July 2010 the violations of legal acts established during the inspection.

Credit institutions supervision department was instructed to inform the credit institution Svenska Handelsbanken AB of Kingdom of Sweden and the credit institutions supervision authority of the Kingdom of Sweden about the results of inspection of Svenska Handelsbanken AB Lithuania Branch.

2. On the results of the inspection of the branch of MP Bank hf. Baltic branch

The Board of the Bank of Lithuania was informed about the results of the inspection of MP Bank hf. Baltic branch.

Correctness of the preparation of financial statements for supervisory purposes submitted to the Bank of Lithuania, the way of ensuring the compliance with the liquidity ratio, the effectiveness of the internal control system, and compliance with the legislation regulating money laundering and terrorist financing was assessed. By way of selective check-up, compliance with the requirements, approved by the Board of the Bank of Lithuania for the management of the Loan Risk Database was checked.

MP Bank hf. Baltic branch was instructed to remove by 1 July 2010 the violations of legal acts established during the inspection.

Credit institutions supervision department was instructed to inform the credit institution MP Bank hf. of the Republic of Iceland and the credit institutions supervision authority if the Republic of Iceland about the results of inspection of the MP Bank hf. Baltic branch.

3. On the results of the inspection of Allied Irish Banks, p.l.c. Lithuanian branch

The Board of the Bank of Lithuania was informed about the results of the inspection of Allied Irish Banks, p.l.c. Lithuanian branch.

Correctness of the preparation of financial statements for supervisory purposes submitted to the Bank of Lithuania, the way of ensuring the compliance with the liquidity ratio, the effectiveness of the internal control system was assessed. By way of selective check-up, compliance with the requirements, approved by the Board of the Bank of Lithuania for the management of data to the Loan Risk Database was checked.
 
Allied Irish Banks, p.l.c. Lithuanian branch was instructed to remove by 1 July 2010 the violation of legal acts established during the inspection.

Credit institutions supervision department was instructed to inform the credit institution of Ireland Allied Irish Banks p.l.c. and the credit institutions supervision authority of Ireland about the results of the inspection of Allied Irish Banks, p.l.c. Lithuanian branch.

4. On permission to become a member of the Supervisory Board of AB Siauliu bankas.

The Bank of Lithuania received a letter from AB Siauliu bankas whereby the Bank asked to issue a permission for a Michael Anthony Hesketh to become a member of the Supervisory Board. The Board of the Bank of Lithuania did not object to that appointment.

5. On approval of the financial statements of the Bank of Lithuania for the year 2009 and distribution of the profit

The Board of the Bank of Lithuania approved financial statements of the Bank of Lithuania for the year 2009 and distributed the profit of the year 2009.

The profit of the Bank of Lithuania for the year 2009 amounts to LTL 519.44 million. The meeting of the Board emphasised that that was the biggest profit over the twenty-year period of the activity of the Bank of Lithuania.

At the end of the last year, Article 23 of the Bank of Lithuania Law was amended and the share of the profit of the Bank of Lithuania to be transferred to the State budget was increased from 50 % to 70 %. The amount of LTL 363.6 million will be transferred into the State budget.

After the distribution of the profit of the year 2009, capital of the Bank of Lithuania will amount to LTL 1,332.0 million (authorised capital and reserves will make up LTL 200.00 million and LTL 1,132.0 million respectfully).

The financial statements of the Bank of Lithuania 2009 was conducted by UAB „Ernst & Young Baltic".