Siauliu Bankas - Notification on material event

The Court has annulled all allegations against the Bank's employees

After examining the criminal case regarding the circumstances of the use of the credit granted by the Bank (see the Bank's report of 5 June 2018, the report of 8 February 2019), the Klaipėda Regional Court has rendered  acquittal and annulled all allegations against the Bank's employees. The decision of the court of first instance will take effect only after 20 days, if no appeal is submitted.

The Court has investigated circumstances of 7.5 million euro credit issued to the company "Nidos Pušynas" and its use by Vladimir Romanov and his associates. Allegations regarding the issuance of the credit were made to Vytautas Sinius, who chaired the Loan Committee at the time of the issuance of the credit (2012), and two other employees of the Bank (the Head of the Šiauliai Branch and the Director of the Treasury Department  (2012)). 

Please be reminded that the credit of 7.5 million euro was granted to company "Nidos Pušynas", which is related to the entrepreneur Vladimir Romanov and his close associates, in 2012 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.  When granting the credit, the Bank complied with all requirements for credit institutions and procedures related to the issuance of credit.

The Bank ensures that it meets all operational requirements. The ongoing legal proceedings do not affect the Bank's business continuity and day-to-day operations. No financial claims were made against Šiaulių Bankas in the case.

Additional information is provided by
Monika Rožytė
Communication Group Lead of Šiaulių Bankas 
monika.rozyte@sb.lt