AB „Finasta Holding“ will control „Finasta“ group and other companies of bank SNORAS group, engaging in financial investment activity

On 6 October 2009 AB Bank SNORAS Board decided to reform the Private Limited Company UAB “SNORO investicijų valdymas” into the Public Limited Company AB „Finasta Holding“, which will control recently obtained „Finasta“ group companies and other Bank SNORAS group companies, engaging in investment management. During the meeting of the Board the main management and development directions of the group companies Finasta that belong to the Bank SNORAS group were also discussed.

“Presently is the appropriate time to systematize and change the structure of the companies, managed by Bank SNORAS group, as well as risk management and, in this particular way, to optimize the investment banking activities of all the companies, managed by Bank SNORAS group”, states the Chairman of the AB „Finasta Holding“ company’s Board, the director general and the First Vice-President of AB Bank SNORAS Naglis Stancikas.

After the provided reorganization it is foreseen to affiliate AB „Finasta įmonių finansai“ to AB „Finasta Holding“, directly managing Bank SNORAS group companies. Holding will also manage the other Bank SNORAS group companies, engaging in investment management.

Authorised capital of AB „Finasta Holding“ comparises LTL 600 000, AB Bank SNORAS cointrols 100 percent of the company‘s shares.