2012-03-06
The Board of the Bank of Lithuania gave permission to Allied Irish Banks, p.l.c. Lithuanian branch to discontinue its activities.
The Bank’s representatives informed that the branch was not providing any financial services licensed, had no customers and was not performing any activities that could preclude the branch from the cancellation of its business. The branch activities performed in administering loans of other banks operating in Lithuania were terminated after the cancellation of loan contracts signed with respective banks and after transferring loan administration functions to the banks themselves, whereas the loan portfolio of the branch was transferred to Swedbank, AB. Representatives of Allied Irish Banks, p.l.c. stated that settlements with creditors will be made by using the funds of the branch itself and, if needed, of the bank. Moreover, it was stated that the branch’s creditors will be able to present any claims regarding the branch’s outstanding liabilities after its removal from the Register of Legal Persons directly to the bank itself.