Notification on material event
Šiaulių bankas and Danske Bank completed the transaction on the acquisition of the private customers credit portfolio
Šiaulių Bankas AB, company code 112025254, address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.
On 1 May, acquisition of the private customers’ credit portfolio from Danske Bank A/S Lithuania branch was completed. The Bank announced this acquisition on the Nasdaq Baltic after signing the agreement in January this year. The Bank paid EUR 108 million for the acquired credit portfolio.
The credit portfolio consists of more than 2200 transactions, most of which are mortgage loans. The Bank started increasing its activity in the housing lending market back in 2019, when new automated processes were introduced, the team of employees was strengthened and competitive credit conditions were offered to customers. After this transaction, the Bank’s housing loan portfolio has increased to 3.2 percent of the market share.
Aside from mortgage loans, the portfolio consists of such private customers’ credits as leasing, consumer loans. Due to the transaction, more than 2000 new customers joined Siauliu bankas, of which 80 percent are new to the Bank. Terms of the credit agreements did not change, and customers were notified of the transfer procedures in a separate notice.
Monika Rožytė, +370 686 79234, email@example.com