The Valuation Report of transferred Assets and Lia

Šiauliai, Lithuania, 2013-10-11 15:05 CEST (GLOBE NEWSWIRE) --  

On 11 October 2013 the KPMG Baltics, UAB provided Šiauli? bankas AB with the final valuation report of assets and liabilities transferred from ?kio bankas AB under the Agreement on Transfer of Assets and Liabilities dated 23 February 2013 with its further amendments concluded by ?kio bankas AB, Šiauli? bankas AB and the state enterprise "Deposit and Investment Insurance".

According to the data of the provided report the value of the liabilities taken over by Šiauli? bankas AB comprises LTL 2725 million while the value of taken over assets comprises LTL 1798 million. The composition of the taken over assets (in LTL, million): 

In compliance with article 76¹ of the Law on Banks of the Republic of Lithuania the state enterprise "Deposit and Investment Insurance" undertakes to Šiauli? bankas  to cover  the difference of  LTL 128 million in value, which occurred between the final and preliminary valuation.

The valuation of assets does not substantially alters the bank's capital adequacy and liquidity ratios. As of 1 October 2013 the bank's liquidity ratio was 50.4 % (the prudential requirement set by the Bank of Lithuania is 30 %), the bank's capital adequacy ratio was 10.8 % (the established requirement is 8 %).

         Chief Executive Officer Audrius Žiugžda shall provide the additional information and is available on tel. +370 52636157