Meeting of the Board of the Bank of Lithuania
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 the emission of 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.
Results of inspection of AB Šiaulių bankas discussed
The Board of the Bank of Lithuania discussed the results of the inspection of AB Šiaulių bankas. During the inspection, credit and liquidity risk management was reviewed. Attention was paid to the fact that the Bank’s capitalization level allows it ensuring stable and sustainable operation.
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.
The Programme of Issue of Commemorative Coins updated
Given the recent stabilisation in the sales of collector coins, the Board of the Bank of Lithuania changed the Programme of Issue of Collector (Commemorative) Coins for 2012–2013.
The 50 litas coin dedicated to the 200th anniversary of the Museum of Hollowed Trunks of Dionizas Poška, the 10 litas coin dedicated to Art, in 2013 – the 50 litas coin dedicated to the 25th anniversary of the establishment of the Lithuanian Sąjūdis movement and the 50 litas coin dedicated to Lithuania's presidency of the Council of the European Union (EU) are suggested to be issued next year in the mintage amount of 4,000 pieces or 1/5 fewer each than previously scheduled. The mintage of the latter 1 litas circulation commemorative coin was halved to 1000,000 pieces.
It was decided to issue the 50 litas coin dedicated to the 150th birth anniversary of famous poet Maironis (Mačiulis), the 50 litas coin dedicated to Lithuanian Nature, in 2013 – the 50 litas coin to commemorate the 150th anniversary of the 1863–1864 Uprising, the 50 litas coin to commemorate the 600th anniversary of the Baptism of Samogitia in the mintage quantities of 3,000 pieces each (instead of 5,000 pieces). The mintage of the 100 litas coin to perpetuate the 400th anniversary of the issuance of the first map of the Grand Duchy of Lithuania will be 2,000 pieces (instead of 5,000 scheduled).