The decision was unanimously approved at the general meeting of shareholders at the end of March.
The bank had reported that Artea name was proposed by the Tesonet team rallied by Tomas Okmanas, an independent member of the bank’s Supervisory Board and co-founder of Tesonet.
Synthesis Consulting Group helped develop the new brand, which also worked on Žalgiris, Ignitis and Lithuania Co-create brands.
While rebranding, Šiaulių Bankas remains the largest Lithuanian-owned bank in the country. Its main shareholders – Lithuanian business leaders Invalda INVL, Tesonet Global, Willgrow and the international European Bank for Reconstruction and Development (EBRD) – remain unchanged.
Šiaulių Bankas Group currently manages the bank, the asset management company SB Asset Management, the life insurance company SB draudimas and the leasing company SB lizingas.