Šiaulių bankas company SB Asset Management has obtained a management company licence
30 Agosto 2023 - 2:45AM
Šiaulių bankas company SB Asset Management has obtained a
management company licence
SB Asset Management, a company established by Šiaulių bankas,
has been granted by the Bank of Lithuania a license of a management
company acting in accordance with the Law on Collective Investment
Undertakings of the Republic of Lithuania.
SB Asset Management has been established in
preparation for the implementation regarding the merger of Šiaulių
bankas and Invalda INVL retail client asset management and life
insurance businesses with Šiaulių bankas (see. Notice). It is
estimated that after the transaction closing date the SB Asset
Management would take over the management business of pension funds
and investment funds for its further development.
”This license is an important achievement for
implementation of the transaction with Invalda INVL, allowing
the merger to proceed as planned. We believe that the development
of savings and investment solutions will bring more flexibility and
attractiveness to our existing and future clients of Šiaulių Bankas
Group, as well as enhance competition in the market”, says Tomas
Varenbergas, Director of Treasury & Markets of Šiaulių
Bankas.
Upon completion of the transaction with Invalda
INVL, the Šiaulių bankas group would expand and strengthen the
segment of retail banking services with savings and investment
products. This would create the basis for Šiaulių bankas group to
develop a new generation of financial services provider offering
even wider range of services from a single source.
Additional information: Tomas Varenbergas Director of Treasury
& Markets tomas.varenbergas@sb.lt, +370 5 203 22 00
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