Information on Šiaulių Bankas Strategy Update 2024 – 2029
15 Enero 2024 - 8:05AM
Information on Šiaulių Bankas Strategy Update 2024 – 2029
On 15 January 2024 Šiaulių Bankas AB announce
its Strategy Update for 2024-2029 at the Investors Webinar,
outlining its strategic ambition to become the best bank in
Lithuania by 2029. The bank is committed to achieving this goal by
delivering an exceptional customer experience, fostering
top-of-mind recognition among Lithuanian banking clients, expanding
its customer base and loan portfolio at a faster pace than the
market, and generating mid-to-high teen return on equity.
"To achieve our ambitious goals, we are
embarking on a strategic transformation. Our vision is to become
the bank key stakeholders choose to grow with, including clients,
employees and investors. After completion of the merger of the
retail businesses with INVL, we are ready to move forward even
faster.
Our major shareholders, including Lithuanian and
global business leaders as Tesonet, Willgrow and Invalda INVL, who
recently increased their stake in the bank, demonstrate long-term
commitment and trust in the bank's future prospects" says Vytautas
Sinius, CEO of Šiaulių Bankas.
Šiaulių Bankas strategic initiatives include
upgrading the core banking platform, a comprehensive rebranding
effort, reaffirming commitment to strong compliance & risk
management and a heightened focus on ESG principles. The key
priority remains a customer-centric approach, while also ensuring
the highest standards of compliance and risk management.
Šiaulių Bankas has signed an agreement with
Temenos for the implementation of a core banking platform. Temenos
is one of the most advanced banking platforms, used by around 3,000
leading financial institutions worldwide. The cloud-based platform
will ensure modular development, flexibility, resilience, and the
best customer experience. Platform is planned to be deployed in two
years.
The bank is also analyzing rebranding needs. The
aim is to ensure that the brand is in line with the Bank's
strategic changes and evolving consumer expectations, and to
increase the Bank's visibility among its target customer segments.
The aim of this strategic move is to be top of mind of consumers in
the Lithuanian banking sector.
Šiaulių Bankas sees compliance and risk
management as one of the key priorities, which is essential for
achieving the best customer experience and strategic growth. The
Bank will strengthen its compliance culture, implement new AML,
FRAUD, and sanctioning systems, automate data exchange and
management systems, and update its customer risk assessment
model.
The Bank's customer strategy in the short term
is to implement strategic initiatives and grow the value of
existing customers of Šiaulių Bankas Group by leveraging
cross-selling opportunities and consistently improving the customer
experience, and after renewing of the core banking platform and
brand from 2026 onwards to attract new higher-value customer
segments.
The Bank has renewed its organizational
structure with a focus on customers, with the establishment of the
Corporate Clients, Private Clients and Investment Clients
divisions.
In the corporate clients segment, Šiaulių
Bankas, being a leader in SME and mid-cap enterprise financing,
aims to double the number of business customers to 40 thousand by
2029 and to reach 20% of the business financing market.
In the private clients segment, the goal is to
reach 1 million customers by 2029 – twice as many as at present –
and to ensure that one in three customers will use home banking
services.
In the investment clients segment, the Bank aims
to become a leader in the debt capital market by offering services
to a broader segment of companies seeking for financing on the
capital markets and to help businesses raise at least € 500 m
annually on the capital markets as of 2029.
The strategy will aim to generate 20+ % average
annual return (return on capital, dividends and share appreciation)
to investors over the period 2024-2029.
Key financial targets:
|
2024 |
2025 |
2026 |
2027–2029 |
Loan portfolio |
€ 3,3 bn |
€ 3,7 bn |
€ 4,1 bn |
8 % (CAGR) |
C/I ratio |
49,7 % |
53,2 % |
48,8 % |
< 47,5 %. |
RoE |
13,7 % |
13,1 % |
15 % |
> 15 % |
"I believe that this strategy is ambitious and
by the end of this decade we will see significant changes both in
Šiaulių Bankas and in the Lithuanian banking sector – we are ready
to be the inspiration for these changes," says Vytautas Sinius,
Chief Executive Officer of Šiaulių Bankas.
Please find enclosed the information provided to
the investors on the webinar.
Additional information:Tomas VarenbergasHead of
Investment Management Divisiontomas.varenbergas@sb.lt
- Siauliu Bankas - Stategy Update (Final) 1
Siauliu Bankas Ab (LSE:0KC0)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Siauliu Bankas Ab (LSE:0KC0)
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De May 2023 a May 2024