OREANDA-NEWS. February 18, 2013. Siauliu bankas bankas is ready to start negotiations with the Bank of Lithuania regarding takeover of Ukio bankas banking business in Lithuania pursuing to restore the activities of Ukio bankas as soon as possible and to maintain the stability of the financial system. Siauliu bankas is interested in solving this situation as soon as possible without any major negative consequences for the clients of Ukio bankas and the entire banking system of Lithuania, reported the press-centre of Siauliu Bankas.

"Siauliu bankas is financially solid for such step and has transparent shareholders’ structure. These plans are supported by the largest shareholder of Siauliu bankas European Bank for Reconstruction and Development (EBRD), - said Audrius Ziugzda, CEO of Siauliu bankas.  According to him, the bank was always looking for expansion opportunities and this goes in line with the shareholders' strategy. Takeover of the transparent assets and liabilities of Ukio bankas in Lithuania would increase the market share of Siauliu bankas and it would increase the competitiveness in the Lithuanian banking market. It would be a precedent for the development of a strong Lithuanian bank.

“I am confident, that Siauliu bankas management and  all of its employees will  ensure that services are restored to former Ukio bankas clients as soon as possible, - said Peter Reiniger EBRD’s board nominee on Siauliu bankas Supervisory Council.

Set up and use of the same IT platform and a common ATM network provides good possibilities to ensure a smooth and rapid service restoration for customers of Ukio  bankas. Siauliu bankas will offer the assistance to help ensure continuity of business for Ukio bankas clients, establishing convenient network of customer service and also providing new opportunities arising from the bank's development.