Financial statements of Šiauliu Bankas Group for H1 2023 reviewed by the auditors

AB Šiauliu Bankas (hereinafter - the Bank) published the unaudited financial statements of the Bank Group for H1 2023 on 31 July 2023.
The main change in the statements is related to the recalculation of the windfall profits tax. According to the clarifications received from the State Tax Inspectorate (STI) up to now, the Bank calculated that it would not have to pay the windfall profits tax for the year 2023. Upon receiving new methodological instructions for calculating the windfall profits tax from STI on August 24, 2023, which eliminate and substantially change the previous interpretations of the application of the law provided by this institution, the Bank re-evaluated the amount of the tax obligation for H1 2023, which amounted to EUR 2.2 million. Considering the calculated corporate income tax, the overall negative impact on the Bank and Group's operating results amounted to EUR 1.8 million.

Additional information shall be provided by:
Donatas Savickas
Head of Finance Division
+370 41 595 602, donatas.savickas@sb.lt

Attachment

• 2023-2Q EN final (signed)