A businessman from the United Arab Emirates buys a medical bank Business



[ad_1]

“Medicinos Bankas has always stood out for its close relationship and flexible approach with clients, so it was important for us that the investor values ​​similar values. “I believe that the new owner, which operates in the world’s largest financial centers, will provide the bank with opportunities for long-term growth, despite the difficult period the world is currently experiencing,” Konstantin Karos said in the press release.

Nitin Shelke points out that Medicinos Bankas, due to its specialization, has excellent opportunities for further development of services and market share.

“This acquisition is a strategic step for the Growmore Group to form a broad-based financial services business conglomerate that currently operates in the United Arab Emirates, the United Kingdom, Switzerland, India and other countries. By providing financial services in the Lithuanian market Highly competitive and high potential, Medicinos Bankas has a solid capital base and has been growing steadily recently.We do not plan radical changes in the bank’s strategy in the near future, but we hope to further increase the value of services provided to customers and strengthen participation in digital banking services, “said N. Shelke.

He noted that the bank will continue to focus on small and medium-sized enterprises, agricultural sector financing and private banking services, using its 51 branches in Lithuania.

Added at 19.25.

It was announced on the Nasdaq Vilnius Stock Exchange that a 100% agreement on Medicinos Bankas was concluded. sale of shares

Konstantinas Karosas and Western Petroleum Limited entered into an agreement on the sale of 137,750 (one hundred thirty-seven thousand seven hundred and fifty) registered common shares representing 100% of the share capital of UAB Medicinos bankas to Nitin Shelke, founder and chairman of the Group’s Board Growmore. The agreement stipulates that Konstantinas Karosas will acquire 300 (three hundred) registered common shares, representing 0.22% of the capital stock of UAB Medicinos bankas, of Vytenis Rasutis before transferring the shares, “the stock exchange announcement read.

The transaction is expected to be completed when permits are received from the Bank of Lithuania and the Coordination Commission for the Protection of Important Objects for National Security.

In the transaction, the seller was represented by financial advisers Deloitte and legal advisers TGS Baltic and the buyer by EY and Sorainen.

Last year, Medicinos Bankas earned $ 3.99 million. 64% of the audited net profit. more than 2018 (2.44 million euros). 2019 At the end of the year, the bank’s assets amounted to LTL 356 million. The bank’s loan portfolio increased by 20% during the year. up to 204 million euros The bank’s deposit portfolio grew 8% during the year. up to 301 million euros Capital adequacy ratio of Medicinos bankas in 2019. at the end of the year it amounted to 17.63 percent.

15min recalls that in September last year it was announced that the shareholder of Medicinos bankas together with the team of advisers began the evaluation of future scenarios that would ensure the development of the bank, and one of the possible alternatives was the sale of the bank’s shares to a strategic or financial investor.

In addition, on April 17, Medicinos Bankas was allowed to include 3,991 million in equity. The Bank of Lithuania (LB) announced that it had previously established an additional capital requirement for a credit institution, BNS announced.



[ad_2]