SKB Bank Equity Investment



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

18 Oct 2006



PSD disclosed:

15 Sep 2006

Project Description

The proposed project is the participation in the capital increase of Siauliu Bankas (“SB”), the sixth largest Lithuanian bank in terms of assets and an important provider of banking services to Lithuanian small and medium sized enterprises (“SMEs”). SB, which is based in Siauliai, in the north of the country has grown its operations significantly over the past few years. It now has a network of 47 branches in all regions of Lithuania.

The EBRD will participate in the capital increase pro-rata to its equity stake of 16%. The additional investment by the EBRD will provide capital and support for the continued expansion of SB.


Transition Impact

EBRD’s participation in this project represents an important stepping stone in SB’s transformation into a strong national bank.

As a lender, and through a technical co-operation programme, over the last four years, the Bank has helped SB develop as an active regional bank, by expanding its services for small businesses. Through good customer service and close co-operation with clients, SB has been able to meet the needs of many small companies in the Siauliai area. The EBRD now intends to participate further in this process, as SB seeks to export its business model of serving SME’s to other regions of Lithuania. The EBRD will therefore provide additional capital and active support to realise the full growth potential of the bank. In doing so, the EBRD will enable SB to reach out to more small businesses, particularly in rural areas. This should have positive effect on the development of the SME economy in Lithuania.

Furthermore, the EBRD as a shareholder will continue to promote good corporate governance standards in this bank including fostering of transparency, accountability and responsibility amongst the shareholders, Bank Council members, managers and employees.

Finally, the EBRD’s experience in many previous equity investments and in transition will be shared with SB and this co-operation should positively contribute to the growth and development of SB.


The Client

AB Siauliu Bankas (“SB”) is the sixth largest bank in Lithuania with total assets of € 358 million and equity of € 36.8 million.

SB is rated B+ (stable) by Fitch IBCA and Moody’s Ba3.


EBRD Finance


Project Cost

€1.5 million.

Environmental Impact

Screened FI. SB is familiar with EBRD’s environmental requirements from earlier operations with the Bank including the SME credit line. The Bank provided SB with Environmental Due Diligence Training in March 2001, Project monitoring based on annual environmental reports from SB to the Bank has shown that SB has satisfactorily adopted and implemented the EBRD Environmental Procedures for Small and Micro Loans. SB has also participated in financing environmental improvement projects through its co-operation with the Lithuanian Environment Protection Investment Fund. In the context of this Project, SB will have to apply EBRD’s Environmental Procedures for Local Banks to the full range of its commercial lending activities, including compliance with EBRD’s Exclusion and Referral List, providing annual environmental reports of all its lending activities to the EBRD and requiring all its borrowers to comply, at a minimum, with Lithuania health, safety, environmental and public consultation requirements.

Technical Cooperation


Company Contact

Mr Donatas Savickas
Member of the Board, Deputy Chairman of the Board
149 Tilžės Street

Telephone: +370 41 595 602
Fax: +370 41 430 774



Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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