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 German The Agricultural Bank of Lithuania J. Basanaviciaus str. 26 LT-2600 Vilnius Lithuania Tel. + 370 2 23 88 86 Fax + 370 2 23 90 57 Swift code: AGBL LT 2X |
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The Agricultural Bank of Lithuania is one of the biggest and, in terms of experience, one of the oldest banks in the country. In 1992 the process of re-organization of the fully state-owned Agro-Industrial (Agroprom) Bank into a state joint stock bank was launched. In 1993, shares of the Bank were distributed, fixed capital of LTL 20 million (USD 1 = LTL 4) was accumulated, and on 13 September the Agricultural Bank of Lithuania was registered as a state-owned commercial bank. During three years of successful performance, the Agricultural Bank of Lithuania has achieved significant results: share capital has increased more than six times (up to LTL 128.02 million). In terms of capital ratio and assets, the Agricultural Bank of Lithuania is the largest bank in the country. The State owns 86.04% of the shares, and the other 13.96% were purchased by legal entities and natural persons. Customers of the Agricultural Bank of Lithuania have no cause to worry -- notwithstanding the economic and financial situation, their deposits are government-backed. The name of the Bank indicates that its activities are focused on agriculture. Up to 60% of lending resources available are used for the agricultural sector. Our Bank is a universal bank performing all financial operations. In order to improve and expand the scope of services, the Bank started issuing Globus and EuroCard/ MasterCard payment cards. It also carries on successful business with international ETN (European Travel Network) discount cards and sells American Express Travellers' cheques. Currently, the Bank has correspondent relations with more than 30 banks abroad. In order to improve currency operations it has purchased a REUTERS information system. The performance of the Agricultural Bank of Lithuania is appraised by international auditing companies such as Arthur Andersen and Deloitte & Touche. |
 The Agricultural bank of Lithuania.  Chairman of the Board, Mr. Vaclovas Litvinas. The Agricultural Bank is involved in close co-operation with the World Bank. The World Bank credit line in the amount of USD 30 million for Lithuanian agriculture will be serviced through the Agricultural Bank of Lithuania. This choice was not made accidentally -- the Bank has a wide network of branches countrywide; 46 branches are situated in all larger towns and regional centres. The shareholders, the Board and the Council will do their very best in order to strengthen the Bank, increase its financial resources and improve support to the agricultural sector. |
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