Meeting of the Board of the Bank of Lithuania
1. The Board resolved to remove the Societe Generale Vilnius Branch from the Register of Enterprises of the Republic of Lithuania.
On 16 December 1999 Societe Generale signed a contract with Merita Bank Plc on the sale of assets and liabilities, under which all assets and liabilities of Societe Generale Vilnius Branch were transferred to Merita Bank Plc Vilnius Branch. The operation was completed on 1 May 2000.
2. The Board resolved to register changes to the by-laws of JSC Industry Bank related to the change of the name of the Bank into JSC Parex Bankas. The Bank will also be issued a banking licence and certificate of registration with the new name of the Bank.
The permission to acquire and manage up to 2/3 of the shares in JSC Industry Bank was granted to the Latvian bank AS Parekss-banka on 27 January 2000.
AS Parekss-banka was registered in Latvia on 14 May 1992 and is among the largest banks in the country.
3. The Board approved the standard of the 50 litas silver and 100 litas gold commemorative coins to honour Vytautas, the Grand Duke of Lithuania (series “Rulers of Lithuania”). These coins will complete the series “Rulers of Lithuania”. They will be issued in late 2000.