Šiaulių Bankas AB (hereinafter referred to as the Bank), company code 112025254, domicile address Tilžės st. 149, Šiauliai, Lithuania.

Upon completion of the pre-trial investigation regarding the circumstances of usage of the credit issued by the Bank (see Bank's report as of 5 June 2018), the lawsuit was transferred to the Klaipėda Regional Court by decision of the Klaipėda Regional Prosecutor's Office.

Credit of 7.5 million euros issued to company "Nidos pušynas" relating to the entrepreneur Vladimir Romanov and his close associates was granted in 2012 a while before declaring the bankruptcy of Ūkio bankas and the real estate owned by the company had been pledged to secure the repayment of the credit. Currently, the credit agreement has expired, the collateral has been realized, the credit has been covered and the company "Nidos pušynas" has been liquidated. No financial claims have been expressed with regard to Šiaulių Bankas in this lawsuit. 

The court will investigate circumstances of 7.5 million euros credit issued to company "Nidos pušynas" and its use performed by Vlamir Romanov and his associates. The actions taken by Vytautas Sinius, who chaired the Loan Committee in 2012 and other two Bank's employees (who took the positions of Head of Šiauliai Branch and Director of Treasury Department in 2012) will also be investigated regarding issue of the credit in the aformentioned credit granting process.   

The Bank emphasizes that all requirements imposed on credit institution and credit granting procedures were complied with when granting the credit.

The Bank informed the Bank of Lithuania about theinitiated legal proceeds. The Bank ensures that it meets all operational requirements. The on-going legal proceedings shall not affect the continuity of the Bank's activities and daily work.

Communication specialist of Marketing and Communication Department Monika Rožytė shall provide additional information and is available on tel. (85) 2 103 369.