2007-03-26
1. Inspection results of the Nordea Bank Finland Plc Lithuania branch
The Board of the Bank of Lithuania was informed about the inspection results of the Nordea Bank Finland Plc Lithuania branch.
The correctness of the preparation of financial statements and reports for supervisory purposes submitted to the Bank of Lithuania, the way of ensuring the compliance of the liquidity ratio requirement was checked up and the effectiveness of the internal control system was assessed. Also, by way of a selective check-up, it was checked whether data entry into the Loan Risk Database was performed under the observance of requirements approved by the Board of the Bank of Lithuania.
2. Permission to register changes in the Articles of Association of Sampo bankas.
The Board of the Bank of Lithuania gave permission to AB Sampo Bankas to register an amendment approved by the decision of its sole shareholder on 17 January 2007 in relation to Article 3.3 of the Bank’s Articles of Association on the increase of the share capital to LTL 304 908 000.
At the moment, the share capital of Sampo bankas amounts to LTL 234 908 000. 100 per cent of the Bank’s share capital was acquired by the Finnish bank Sampo Bank plc.
The sole shareholder of Sampo bankas decided to increase the share capital by LTL 70 million out of additional contributions of the sole shareholder by issuing 700 thousand new registered shares with the nominal value of 100 litas each. According to the Bank representatives, the share capital increase is in compliance with the strategic business plan of the Bank. An additional share capital is needed to ensure an appropriate Bank development. A minimum 100 litas issue price of one new issue share has been set up, as well as the fact that all shares of the new issue shall be sold to Sampo Bank plc.
3. Declaring legal tender and issue into circulation of the 10 litas commemorative coin being emitted under the participation in the international programme ”The Smallest Gold Coins in the World. History of Gold”
The Board of the Bank of Lithuania announced as legal tender 10 litas commemorative coin emitted under the participation in the international programme ”The Smallest Gold Coins of the World. History of Gold” and decided to issue it into circulation on 27 March 2007.
Coins are struck by the Lithuanian Mint. On the obverse of the coin the graphic artist Liudas Parulskis depicted the Ausros vartai, one the most significant monuments of the Vilnius history and its architecture. The reverse side of the coin contains a sectio aurea formula expressed by a geometrical figure of a rectangle - a principle used in architecture from the antique times.
The planned mintage of the coin is 15,000 pieces. 4000 coins from this number are meant for Lithuania’s market.
4. Approval of the Annual Financial Statements of the Bank of Lithuania 2006 and distribution of the Bank of Lithuania profit for 2006
The Board of the Bank of Lithuania approved the Annual Financial Statements of the Bank of Lithuania 2006 and distributed the profit for the year.
The Bank of Lithuania profit for 2006 amounts to LTL 141.79 million. According to Article 23 of the Law on the Bank of Lithuania, 50 per cent of the profit shall be paid into the state budget, and the remaining portion shall be used to form the Bank of Lithuania authorised capital and the reserve capital.
The Bank of Lithuania capital after the distribution of the profit for 2006 makes up LTL 832.21 million (authorised capital amounts to LTL 200.00 million and the reserve capital makes up LTL 632.21 million).
The audit of the annual financial statements of the Bank of Lithuania for 2006 was conducted by UAB Earnst & Young Baltic.