OREANDA-NEWS. November 12, 2012. The state-owned public limited company Lietuvos pastas (LP) and BAB bankas SNORAS today completed the acquisition of the Mini-bank retail network run by the bank Snoras undergoing liquidation procedures.

Commenting on the sale of the retail network, Neil Cooper, Bankruptcy Administrator said:

“I am pleased to confirm that the sale of the mini-bank kiosks has now completed. Such transactions can only be achieved thanks to the hard work by all involved parties. The sale is in the interests of Creditors, landlords and the new employees of these mini-banks.’’

As announced earlier, the network of Snoras mini-banks will be used for the provision of financial services currently offered at post offices: acceptance of charges and fees, sending and pay out of money orders, cash withdrawal, issuance of consumer credits, and etc. In the future, LP is going to offer new financial services as well.

LP acquired 214 access points for rendering financial services. It is planned to open the first mini-banks at the end of the current year.

In the nearest future LP is going to employ approximately 100 new employees having experience in rendering financial services.

The Public Limited Company Lietuvos pastas runs the widest network of access points in the country. LP also provides logistic, financial intermediation, and electronic services.

Information provided by AB Lietuvos pastas and BAB bankas SNORAS.