"Siauliu Bankas re-branding is a natural consequence of those changes that have taken place over the past few years. We are the biggest Lithuanian-capital bank. In the future we will not only pursue a goal of becoming a peer competitor of Northern banks operating in Lithuania but also of becoming one of the most valued brands in Lithuania," said Chief Executive Officer of Siauliu Bankas Vytautas Sinius.
A keynote of the renewed Siauliu Bankas brand's philosophy and its creative concept can be realised as OUR ROOTS. This idea emphasises that roots of Siauliu Bankas are deeply embedded in Lithuania ensuring sustainability and strength of the bank. ROOTS connect the past and the future, community and business, they cultivate and strengthen potential of Lithuania, its business and people.
"Speaking on associations carried out by ROOTS in the view of semantic meaning of this word the first thing we have in mind is the state we all live at – the State of Lithuania. The main goal pursued by Siauliu Bankas is to strengthen potential of our state, business and people," said Sinius.
The renewed logo of Siauliu Bankas incorporates a few meaningful layers. A new graphical component used in the logo symbolises a growing tree, leaves formed out of the letter cavities which cluster around one trunk as well as four regional centres of the bank. All logo components are closely linked and reflect the mission of the bank. The new logo of Siauliu Bankas has been modernised and now more evidently expresses an image of up-to-date bank that still has not lost its link to the past.
Visual identity of Siauliu Bankas displayed in each customer service point of the bank is to be updated gradually – all the processes related to re-branding are planned to be completed in the course of this year.
While speaking on the business strategy Sinius admitted that Siauliu Bankas would further seek to strengthen its retail banking network which is currently of the biggest in Lithuania. At the moment customer service network of the bank consists of 72 units operating in 38 towns and cities throughout Lithuania.
"The bank's prospects are closely tied to ensuring top standards of customer service. Seeking to improve the quality of client service, last year we established a Service Quality Department in the bank and prepared client-service standards to be applied in everyday work. This year, we are planning large investments in information technologies in order to improve the quality of banking products and broaden their range," stated Sinius.
A wide network of units allows Siauliu Bankas to be a strong partner both on regional and community level. The number of Siauliu Bankas corporate clients grew by 13% last year to 23 thousand, while the number of private clients rose 5% to 337 thousand.
"All 23 years of its operation the bank has been closely collaborating with small and medium-sized enterprises. The bank's competence in this area is exclusive and this is an expertise that the Bank will continue to strengthen working hand in hand with SMEs," said Chief Executive Officer.
Among priorities Vytautas Sinius has also mentioned strengthening of the Bank's positions in the life insurance and leasing markets assuming that Ukio Banko Lizingas and life insurance provider Bonum Publicum joined the Group as well as maintaining a position of the leader in renovation financing.
During 2014 the Group earned a net profit of EUR 11.77 million, or 2.2 times the 2013 level. The net profit of the Bank was EUR 10.6 million, which is 3.4 times the previous year's level. Among banks operating in Lithuania, Siauliu Bankas currently ranks fourth in terms of loan and deposit markets.
