Šiaulių Bankas AB, company code 112025254, address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.
Following the supervisory review and evaluation process of Šiaulių Bankas AB (SREP), the Bank of Lithuania reduced the additional capital requirement from 1.9% to 0.9% which applies to risks that have been recognized as significant during stress testing in the process of self-assessment as well as assessment of internal capital adequacy (Pillar II). The following minimum equity requirements shall apply to the Bank:
- a common equity Tier I capital adequacy ratio of 8.4%,
- a common capital adequacy ratio of of 11.9%.
Also, Šiaulių Bankas AB was advised to retain 1% excess of the established capital requirement which should be included into the bank’s capital planning and risk management systems, involving risk management system and planning of recovery.
In addition, commercial banks operating in Lithuania will have to accumulate 0.5% of countercyclical capital buffer by the end of 2018 (currently applicable buffer rate is 0%).
Deputy Chief Executive Officer Donatas Savickas provides the additional information and is available on tel. +370 41 595602.