2012-03-06
AB Ūkio bankas permitted to register amendments to its articles of association providing for an increase in its authorized capital
The Board of the Bank of Lithuania permitted AB Ūkio bankas to register amendments to its articles of association related to an increase in its authorized capital to LTL 345,824, approved at the general shareholders’ meeting on 25 March 2011. Such amendments to the articles of association provide the Bank with a possibility to strengthen its capital base.
The Articles of Association of AB Ūkio bankas registered with the Register of Legal Entities currently specify that the Bank’s authorized capital is LTL 295,824. The Securities Commission approved 50 million ordinary registered shares with the nominal value of 1 litas each on 16 June 2011. The distribution of the shares was completed on 25 August 2011. Shares of the new issue have been acquired by over 350 natural and legal entities.
The Board of the Bank of Lithuania also discussed the report on the inspection of AB Ūkio bankas at this meeting. During the inspection of AB Ūkio bankas conducted by the Bank of Lithuania its financial standing, the efficiency of its risk management system, and the operation of its management bodies were analysed. Compliance with the legal acts regulating banking activities was checked. The Bank was instructed to draw up a plan for removing the deficiencies established during the inspection and to present it to the Bank of Lithuania in the near future.