The Bank of Lithuania imposed a fine for a consume
Post# of 301275
Šiaulių Bankas AB, company code 112025254, domicile address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.
On 29 August 2018 Šiaulių Bankas AB (hereinafter referred to as "the Bank") received a notification regarding resolution of the Board of the Bank of Lithuania dated 28 August 2018 to impose a fine amounting to 0.03% from the total annual operating income of 2017, i.e. EUR 28 113 of the Bank. The Bank of Lithuania, following Article 4 (1) of the Law on Consumer Credit of the Republic of Lithuania, imposed the fine based on the fact that the information provided in the standard sample of the Bank’s consumer credit advertisement announced on television was shown in a smaller font compared to the information of the promotional text and was displayed too short.
The imposed fine will have no effect on the Bank's results and financial position. Advertising its financial services the Bank complies with the principles of responsible lending, seeks and will seek in the future to duly fulfil legislative requirements set for advertisements of financial services.
Director of Marketing and Public Relations Department Daiva Grikšienė shall provide the additional information and is available on tel. +370 41 420 564.