Šiaulių bankas is a major

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

Lithuania Lithuania, officially the Republic of Lithuania, is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea, bordered by Latvia to the north, Belarus to the east and south, P ...

providing retail and commercial banking services. It has been designated in 2019 as a Significant Institution under the criteria of

European Banking Supervision European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is re ...

, and as a consequence is directly supervised by the

European Central Bank The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International ...

History

Šiaulių bankas was established in 1992. The bank took over assets from

Ūkio bankas Ūkio Bankas was a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore was in the control of the bank. It was the fifth largest and oldest private bank in Lithuani ...

totaling LTL2,7 billion in 2013, for which the

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development, shortened to EBRD ( French: ''Banque européenne pour la reconstruction et le développement'' or ''BERD''), is an international financial institution founded in 1991 in Paris. As a multilat ...

(EBRD) granted the bank a loan of LTL69 million. the largest shareholder of the company was the EBRD, owing 26% of the company's stock after converting loans to the bank into shares. In 2021, 18% of the Banks shares held by the EBRD were sold to Invalda INVL, Nord Security and ME investija. The bank merged Invalda INVL and its retail business in 2023, creating a new company headed by the former INVL Investment Management director. Since 1994 (in Secondary List) and since 2006 (in Main List), the company is listed in

Nasdaq Vilnius The Nasdaq Vilnius is a stock exchange established in 1993 (''Vilnius Stock Exchange'', ''VSE'') and currently operated by Nasdaq, Inc.. Shares are listed on a Nasdaq Baltic stock exchange together with stocks from Latvia and Estonia. OMX Vil ...

. In 2022, the bank reported a profit of over €63 million and a loan portfolio of €2.6 billion. On May 7, 2025, the general shareholders' meeting decided to change the name to Artea.

Significant shareholders

As of *AB "Invalda INVL" / UAB „INVL Asset Management“ – 19.93% *UAB Willgrow – 8.97% *

– 7.25% *UAB Tesonet Global – 5.32% *Algirdas Butkus & family – 5.06% *Gintaras Kateiva & family – 4.91% According to the company's bylaws, all shareholders are required to keep the package of their stakes at a maximum of 20 percent. This led to Invalda donating some of their shares to Butkus & Kateiva to keep their stake under the threshold.https://www.15min.lt/verslas/naujiena/finansai/invalda-invl-nedaug-siauliu-banko-akciju-pardave-a-butkui-ir-g-kateivai-662-2213414

References

{{Reflist Banks of Lithuania Companies based in Šiauliai Banks under direct supervision of the European Central Bank Companies in the OMX Baltic 10