Artea Bank
Major commercial bank in Lithuania
From Wikipedia, the free encyclopedia
Artea Bank is a major commercial bank in Lithuania providing retail and commercial banking services.[2][3]
| |
 Artea bank branch in Šiauliai | |
| Company type | Public company |
|---|---|
| Nasdaq Baltic: SAB1L | |
| Industry | Financial services |
| Founded | 4 February 1992 |
| Headquarters | , |
Key people | Vytautas Sinius (Chairman and CEO) Donatas Savickas (Deputy Chairman and CEO; CFO) |
| Products | Retail banking, mortgage loans, corporate banking |
| Revenue |  €160.2 million (2024)[1] |
 €107.3 million (2024) | |
| €78.8 million (2024) | |
| Total assets | €4.923 billion (2024) |
Number of employees | 1,137 |
| Website | www |
It has been designated in 2019 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[4]
History
Artea Bank was established in 1992.[2] The bank took over assets from Ūkio bankas totaling LTL2,7 billion in 2013, for which the European Bank for Reconstruction and Development (EBRD) granted the bank a loan of LTL69 million.[5][6]
As of 2018[update] the largest shareholder of the company was the EBRD, owing 26% of the company's stock after converting loans to the bank into shares.[2][7] In 2021, 18% of the Banks shares held by the EBRD were sold to Invalda INVL, Nord Security and ME investija.[8]
The bank merged Invalda INVL and its retail business in 2023, creating a new company headed by the former INVL Investment Management director.[9][10]
Since 1994 (in Secondary List) and since 2006 (in Main List), the company is listed in Nasdaq Vilnius.[2] In 2022, the bank reported a profit of over €63 million and a loan portfolio of €2.6 billion.[11]
On May 7, 2025, the general shareholders' meeting decided to change the name to Artea.[12]
Significant shareholders
As of 30 September 2024[13]
- AB "Invalda INVL" / UAB „INVL Asset Management“ – 19.93%
- UAB Willgrow – 8.97%
- European Bank for Reconstruction and Development – 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.[14]