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Šiaulių Bankas to buy €125M retail loan portfolio from Danske's Lithuanian unit

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Šiaulių Bankas to buy €125M retail loan portfolio from Danske's Lithuanian unit

Lithuania-based Šiaulių Bankas AB agreed to acquire a retail loan portfolio, including its liabilities, of €125 million from the Lithuanian branch of Danish lender Danske Bank A/S.

Šiaulių Bankas said the deal for the portfolio, which consists of mostly of mortgage loans, will be completed within four months of the transaction's announcement.

Once the deal is completed, the terms of credit agreements will remain unchanged for the Lithuanian branch's customers, who will also be notified of the transfer procedures by a separate notice.

Šiaulių Bankas added that the deal is part of its plan to become an active player in the mortgage market.