Artea Bank

Artea Bank
Company type
Public company
Nasdaq Baltic: SAB1L
IndustryFinancial services
Founded4 February 1992; 34 years ago (1992-02-04)
Headquarters
Šiauliai
,
Lithuania
Key people
Vytautas Sinius
(Chairman and CEO)
Donatas Savickas
(Deputy Chairman and CEO; CFO)
ProductsRetail banking, mortgage loans, corporate banking
RevenueDecrease €156.028 million (2025)[1]
Decrease €70.895 million (2025)
Decrease €60.484 million (2025)
Total assetsIncrease €5.844 billion (2025)
Number of employees
1,137
Websitewww.artea.lt

Artea Bank is a major commercial bank in Lithuania providing retail and commercial banking services.[2][3]

It has been designated in 2019 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[4]

History

Artea Bank was established in 1992.[2] The bank took over assets from Ūkio bankas totaling LTL2,7 billion in 2013, for which the European Bank for Reconstruction and Development (EBRD) granted the bank a loan of LTL69 million.[5][6]

As of 2018 the largest shareholder of the company was the EBRD, owing 26% of the company's stock after converting loans to the bank into shares.[2][7] In 2021, 18% of the Banks shares held by the EBRD were sold to Invalda INVL, Nord Security and ME investija.[8]

The bank merged Invalda INVL and its retail business in 2023, creating a new company headed by the former INVL Investment Management director.[9][10]

Since 1994 (in Secondary List) and since 2006 (in Main List), the company is listed in Nasdaq Vilnius.[2] In 2022, the bank reported a profit of over €63 million and a loan portfolio of €2.6 billion.[11]

On May 7, 2025, the general shareholders' meeting decided to change the name to Artea.[12]

See also

References

  1. ^ "Financial statements and management report" (PDF). artea.lt.
  2. ^ a b c d "Šiaulių bankas | Company — Nasdaq Baltic". nasdaqbaltic.com. Retrieved 25 April 2021.
  3. ^ "Decision of the Court regarding a fine imposed on Šiaulių bankas". Yahoo Finance. December 29, 2022.
  4. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  5. ^ "Šiaulių bankas perima dalį Ūkio banko turto ir įsipareigojimų". Kauno diena (in Lithuanian). 2013-02-24. Retrieved 2024-04-11.
  6. ^ Aukštuolytė, Rima. "Šiaulių bankas užbaigė Ūkio banko perėmimą". vz.lt (in Lithuanian). Retrieved 2024-04-11.
  7. ^ "EBRD moves to convert the loan to shares in Lithuania's Šiaulių Bankas". Retrieved 2024-04-11.
  8. ^ "EBRD reduces stake in Lithuania's Šiaulių Bankas". Retrieved 2024-05-22.
  9. ^ "Šiaulių bankas ir "Invalda INVL" baigė susijungimą, sandorio vertė – 41,8 mln. eurų". lrt.lt (in Lithuanian). 2023-11-30. Retrieved 2024-05-22.
  10. ^ "Šiaulių Bankas and Invalda INVL completed merger of retail businesses". Delfi EN. Retrieved 2024-05-22.
  11. ^ "Šiaulių Bankas Group results for the year 2022". Šiaulių bankas. Retrieved 2024-05-22.
  12. ^ ""Artea" tapusi Šiaulių banko grupė per penkmetį klientų skaičių sieks išauginti iki 1 MLN". 5 May 2025.

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