Published: 2020-02-03 15:00:14 CET
Medicinos bankas
Notification on material event

Notice regarding the additional capital requirement of the bank

Vilnius, Feb. 03, 2020 (GLOBE NEWSWIRE) -- Medicinos Bankas UAB, registration number 112027077, office address: PamÄ—nkalnio g. 40, Vilnius, Lithuania.

Having completed the supervisory review and evaluation process (SREP) of Medicinos Bankas UAB, the Bank of Lithuania established additional capital requirement (P2R) of 1.8 per cent calculated for additional risks covered by the Pillar II. Previous capital requirement was 2.2 per cent. Due to the additional capital requirement, the bank will have to meet the following minimum requirements of own funds:

- Common Equity Tier 1 (CET1) capital requirement: 6.3 per cent;

- Total SREP capital requirement: 9.8 per cent;

- The required total capital (taking into account all reserve requirements): 13.3 per cent.

Medicinos Bankas is, furthermore, recommended to ensure the Pillar II Guidance (P2G) capital of 1 per cent, which must be included in the capital planning and risk management systems of the bank.

As of 1 January 2020, the Bank of Lithuania requires Medicinos Bankas UAB to meet the 6 per cent minimum requirement for own funds and eligible liabilities on the consolidated level.

         For more information please contact: Aleksejus Tonkich, Director of the Accounting and Reporting Department of Medicinos Bankas, tel. +370 698 34055, email aleksejus.tonkich@medbank.lt