Šiauliai, Lithuania, 2015-03-02 08:15 CET (GLOBE NEWSWIRE) --
Šiaulių Bankas AB (hereinafter – Šiaulių Bankas) estimated the final adjustment amount according to the Agreement on Transfer of Part of Assets and Liabilities of Ūkio Bankas signed 23 February 2013 by Šiaulių Bankas, temporary administrator of Ūkio Bankas AB (hereinafter – Ūkio Bankas) and state enterprise Indėlių ir Investicijų Draudimas (hereinafter – the Agreement). The final adjustment amount was calculated according to the provisions of the Agreement as an increase (decrease) in the value of certain taken over assets until 31 December 2014.
As the resulting final adjustment amount was found to be negative, according to the Agreement and estimation of Šiaulių Bankas, Šiaulių Bankas has no obligation to provide Ūkio Bankas with the compensation (final adjustment amount). Šiaulių Bankas informed the parties of the Agreement on this matter on 5 February 2015.
Chief Executive Officer Vytautas Sinius
Chief Executive Officer Vytautas Sinius shall provide the additional information and is available on tel. +370 5 2362 209.