Banks, Financial Services, Investments, Lithuania

Siauliu Bankas said in a stock exchange release that its shareholders approved the capital increase and the dividend payment at their general meeting on Mar. 30.

The bank will issue 62.9 million ordinary registered shares free of charge to shareholders.

"Last year was among the most successful in the bank's history. We worked in line with our business strategy and (...) we exceeded our targets. We believe that the bank's growing and expanding operations will continue to grow the value of the shares," Siauliu Bankas CEO Vytautas Sinius said in a press release.

The Siauliu Bankas Group last year posted 23.8 million euros in net profits, more than a two-fold increase compared with 2014. The bank alone doubled its net profit to 21.151 million euros. Its assets grew by 3% to 1.658 billion euros.

A group of shareholders, acting in concert, held a combined stake of 39.41% in Siauliu Bankas at the end of 2015, including the EBRD with 18.24%.

Siauliu Bankas is quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange.