“Can Lithuania's largest independent bank leverage a full cloud-native core banking migration and post-INVL retail integration to become the primary financial institution of choice for Lithuanian consumers and SMEs?”
Founded in 1992 as a regional Lithuanian commercial bank with a focus on SME and mid-cap enterprise financing, Šiaulių Bankas has grown into the largest independently-owned bank in Lithuania with over €4 billion in assets. The bank expanded its retail footprint materially through the 2020 acquisition of Danske Bank Lithuania's private customer loan portfolio and the 2024 integration of Invalda INVL's retail business, adding pension fund management, investment products, and life insurance to its offering. In 2024, as part of a strategic IT transformation, it became the first Lithuanian bank to commit to migrating core banking to Temenos Banking Cloud SaaS. The bank is now pursuing a dual strategy: doubling business customers while deepening retail wallet share, and is preparing a full corporate rebranding.
Siauliu Bankas is founded in 1992 and headquartered in Šiauliai, Lithuania.
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