Šiaulių Bankas has signed an agreement with the Lithuanian branch of Danske Bank A/S for the acquisition of the retail loan portfolio of EUR 125 million

Šiaulių Bankas AB, company code 112025254, the address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.

Šiaulių Bankas has signed an agreement with the Lithuanian branch of Danske Bank A/S for the acquisition of the retail loan portfolio of EUR 125 million. The transaction is scheduled to be completed within four months after signing of the agreement.

Šiaulių Bankas will acquire the retail loan portfolio including it’s liabilities of the Lithuanian branch of Danske Bank A/S. Most of the portfolio consist of the mortgage loans.

Šiaulių Bankas increased its activity in the mortgage segment last year - new automated processes were implemented and the team of employees was strengthened, therefore this transaction is a consistent step with the Bank’s plan to become an active participant in the mortgage market.

Upon completion of the transaction, the terms of credit agreements will remain unchanged for the customers of the Lithuania Branch of Danske Bank A/S and the customers will be notified of the transfer procedures by a separate notice.

Additional information shall be provided by

Communication specialist

Monika Rožytė, ,