Šiauliai, Lithuania, 2015-04-13 09:03 CEST (GLOBE NEWSWIRE) --
On 09 April 2015 the Board of the Bank of Lithuania discussed the results of inspection of Šiaulių Bankas AB.
It was established that Šiaulių Bankas AB insufficiently fulfilled requirements set for arrangement (management) of internal control and risk assessment and not always complied with the prudential requirements imposed on credit institutions.
Šiaulių Bankas AB is obliged to eliminate breaches of legal acts and bank's activity deficiencies detected during inspection prior to 30 June 2015 and to inform the Bank of Lithuania accordingly.
Part of the detected deficiencies had been quickly eliminated. This fact was emphasized during the meeting.
Chief Executive Officer Vytautas Sinius
Deputy Chief Executive Officer Donatas Savickas will provide additional information and is available on tel. +370 41 595 602.