Company Announcements

Moody’s affirmed Šiauliu Bankas’ Baa2 deposit ratings, outlook remains positive

Source: OMX
Moody’s affirmed Šiauliu Bankas’ Baa2 deposit ratings, outlook remains positive

The international rating agency Moody's Investor Service ("Moody's") has affirmed Šiaulių Bankas' previously assigned long-term deposit rating of Baa2 and its positive outlook. The Bank's previous short-term deposit rating of P-2 has also been affirmed.

The Moody's report says that the rating affirmation reflects the Bank strong credit fundamentals relative to the rating level, which is expected to remain resilient despite the increasing challenges in the Bank’s operating environment and the Bank’s high level of loan growth. The continued positive outlook on the Bank reflects the improvement in the Bank’s risk management and asset risk, with significantly reducing the volume of non-performing loans (NPLs) and maintaining a strong capital position.

Moreover, Šiaulių Bankas’ counterparty risk rating/assessment has been affirmed Baa1/Baa1(cr) as well as baseline and adjusted baseline credit assessment - ba1.

Additional information:
Tomas Varenbergas
Head of Treasury & Markets Department
tomas.varenbergas@sb.lt, +370 5 203 22 00