Together is better than alone. With the expertise, knowledge, and approach to the customer of two Lithuanian business leaders, we have great ambitions to create a new generation, modern bank group focused on customer needs and creation of value for its customers, society, employees, and shareholders.
From 01 December 2023. INVL tier II and tier III pension funds and investment funds intended for retail investors are managed by „SB Asset Management”, a company of Šiaulių bankas group, which acquired the „INVL Asset Management” team of investment managers and experts.
The agreements and obligations of the life insurance company „INVL Life” were transferred to „SB draudimas”, a company of Šiaulių bankas group.
Invalda INVL became the largest shareholder of Šiauliai bankas.
You can find all information about INVL tier II and tier III pension funds and INVL Alternative Investments Fund I, INVL Alternative Investments Fund II, INVL Baltic Fund, INVL Emerging Europe Bond Fund, INVL Emerging World Markets Bond Subfund, life insurance products, and all customer self-services on the website of Šiaulių bankas www.sb.lt
The retail operations of group „Invalda INVL” and Šiaulių bankas group have been merged as of 01 December 2023.
By merging the expert knowledge of Šiaulių bankas and „Invalda INVL” group, we sought to create a new generation of financial services provider – a vigorous, modern participant in the market of banking services, which would have an edge over the foreign capital banks, currently dominating the market, because of its professionalism, solutions adapted to customer needs, and the added value created this way, offering even wider range of services from a single source, flexibility in adapting to customer needs, and unique financial solutions.
The joint team of professionals in Šiaulių bankas group will continue to actively develop retail banking services, from management of bank accounts, deposits, loans, leasing, investment funds, tier II and tier III pension funds in Lithuania to life insurance in the Baltic countries.
We believe that the synergy of two strong complementary Lithuanian businesses will become an incentive for market competition and will create economic value for Lithuania and ensure the greatest benefits for both customers, employees, and shareholders.
Šiaulių bankas has been operating for 30 years and is a stable and consistently growing financial partner in Lithuania, focused on the Lithuanian market, paying special attention to the solutions of business and consumer funding.
Šiaulių bankas group includes subsidiaries that work in the fields of leasing („SB lizingas”), renovation („SB modernizavimo fondas”), life insurance („SB draudimas”), and real estate („SB turto fondas”). Šiaulių bankas shares are traded on the stock exchange since 1994. The bank’s shares were included in the „Nasdaq” Vilnius Official Trading List at the end of 2006.
Šiaulių bankas is open, flexible, and has strong relationships with every customer. Its main distinctive features are his spirit of Lithuania and being closer to the customer, paying a lot of attention to personal connection. The bank has a good understanding of its customers, their needs and situations, and makes decisions on the spot.
Šiaulių bankas has a strong position in the financing market, as well as a solid footing for addressing customer needs. It is distinguished by the widest network of service branches in Lithuania: it serves customers in 55 branches, 36 cities of Lithuania, and develops digital solutions as well. According to the results of the secret customer investigation initiated by „DIVE Lietuva” in 2018, 2019, and 2021, the bank has been selected as the best customer-serving bank in Lithuania.
„SB Asset Management”, a company of the bank group, also manages INVL tier II and tier III pension funds and investment funds for retail investors as of December 2023.
By merging the retail operations of „Invalda INVL” and Šiaulių bankas, we sought the greatest benefit for our customers, so that a joint team of professionals could offer the best of what both organizations had in the market – group „Invalda INVL” proficiency in the fields of investment and tier II and tier III pension fund management, and proficiency of Šiaulių bankas in the fields of retail banking and funding, as well as a common concept of life insurance services that harmonizes the visions of both organizations.
By offering a full range of home bank services, we will continue to expand the list of products and strive to become a bank focused on the needs of local customers, distinguished in the market by its individual approach, flexibility and convenience, expertise in solutions, and Lithuanian start-up spirit – vigor and modernity.
If you have been saving your pension in INVL tier II and / or tier III pension funds until now and had life insurance of „INVL Life”, we have informed you personally about the merger and important conditions that had changed.
Customers did not have to take any action and the merger had no effect on the terms of their existing pension saving or life insurance.
However, it is important to know that the service provider has changed. From now on, tier II and tier III pension funds and investment funds for retail clients are managed by „SB Asset Management”, a company of Šiaulių bankas group, which has also become the controller of personal data of customers, and processes personal data of each customer in the same way as „INVL Asset Management” did.
The life insurance company „SB draudimas” became the provider of life insurance services and also became the controller of personal data of customers and processes the personal data of each customer in the same way as „INVL Life” did.
The same customer self-services that you can find in the following link remain operational savitarna.sb.lt. Signing into self-services and features thereof have not changed.
You can find all the information about the services on the website of Šiaulių bankas at www.sb.lt.
Pension self-service, insurance self-service, Asset management portal, and other self-service systems can be found on the website of Šiaulių bankas at www.sb.lt. Click the Sign in button and select the system you are looking for.
In the merger of Šiaulių bankas and „Invalda INVL” retail businesses, group „Invalda INVL” employees and their know-how are an integral part of the agreement. Investment managers and experts of „INVL Asset Management” are now working at „SB Asset Management”, a company of Šiaulių bankas group”, it continues to manage investments based on the unique principles of Index Plus.
The following changes are relevant for group „Invalda INVL” customers:
For those who are saving in INVL tier II pension funds;
For those who are saving in INVL tier III pension funds;
For non-professional investors who have invested in INVL Alternative Investments Fund I, INVL Alternative Investments Fund II, INVL Baltic Fund, INVL Emerging Europe Bond Fund, INVL Emerging World Markets Bond Sub-Fund;
For those insured with the life insurance of „INVL Life” in Lithuania, Latvia, or Estonia.
You do not need to do anything about this transaction. From now on, your pension fund is managed by „SB Asset Management”, a company of Šiaulių bankas group, the merger transaction did not affect other conditions.
Funds invested by residents in the tier II pension fund are separated from the assets of the asset management company and are stored in a depository, i.e. in the bank. Asset separation is one of the most important guarantees of the safety of investors’ funds. Therefore, in the event that the fund manager changes, the participants do not lose their accumulated funds, they are simply transferred to the management of another fund manager.
You do not need to do anything about this transaction. From now on, your pension fund is managed by „SB Asset Management”, a company of Šiaulių bankas group, the merger transaction did not affect other conditions.
Funds invested by residents in the tier III pension fund are separated from the assets of the asset management company and are stored in a depository, i.e. in the bank. Asset separation is one of the most important guarantees of the safety of investors’ funds. Therefore, in the event that the fund manager changes, the participants do not lose their accumulated funds, they are simply transferred to the management of another fund manager.
You do not need to do anything about this transaction. From now on, all obligations under all life insurance agreements of „INVL Life” in Lithuania have been taken over by „SB draudimas”, a company of Šiaulių bankas group, other terms were not affected by the merger transaction.
Insurance companies must make sufficient technical provisions to fulfill all their obligations under insurance agreements based on the requirements of the legislation. If the insurance company changes, the rights and obligations under the insurance agreements are transferred together with the assets covering the technical provisions.
You do not need to do anything about this transaction. From now on, INVL Alternative Investments Fund I, INVL Alternative Investments Fund II, INVL Baltic Fund, INVL Emerging Europe Bond Fund, and INVL Emerging World Markets Bond Sub-Fund are managed by „SB Asset Management”, a company of Šiaulių bankas group, other terms were not affected by the merger transaction
Having a life insurance agreement, saving in tier II or tier III pension funds, or investing in investment funds intended for non-professional investors does not require a money account in the same financial institution.
The procedure for paying premiums to tier III pension funds and according to the life insurance agreement does not change, but we recommend that you pay attention to the payment details if the premiums are paid by ordinary transfer.
Pension self-service, insurance self-service, Asset management portal, and other self-service systems can be found on the website of Šiaulių bankas at www.sb.lt. Click the Sign in button and select the system you are looking for.
You can find payment accounts for tier III pension fund premiums and new payment details at savitarna.sb.lt Pension self-service – log in and click the button Make a payment.
Life insurance premium payment accounts and new payment details can be found on the website www.sb.lt in the Insurance section Premium payment methods and e. bills.
The strategic direction of the joint retail operations team of Šiaulių bankas and group „Invalda INVL” is to offer a full range of home bank services to existing and future customers after integration of the services provided by both organizations and to further expand the product list, and become a customer-oriented bank that stands out in the market for its individual approach, flexibility and convenience, as well as expertise in addressing the needs and providing solutions, and the Lithuanian start-up spirit – vigor and innovation.
According to the results of the secret customer investigation initiated by DIVE Lietuva in 2018, 2019, and 2021, Šiaulių bankas has been selected as the best customer-serving bank in Lithuania. Customers of INVL consistently give high evaluations to the quality of financial advice, and also give positive feedback on the results of investment management and the terms of insurance products.
The exclusive and professional experience of managers of INVL pension and investment funds and life insurance lines was also retained and the unique Index Plus strategy is applied.
Once this transaction is completed, the vision of „Invalda INVL” to create prosperity for people through its activities, while contributing to the growth of the region in which we operate, will remain.
After this merger of retail operations and other planned share acquisition transactions that were announced – „Invalda INVL” will increase its stake in Šiaulių bankas.
„Invalda INVL” group will continue to be active in the fields of private capital and alternative investment management and will provide family office services and pension fund management services in Latvia.
If you have any questions, please contact the customer service team of the Šiaulių bankas group:
INVL and Šiaulių bankas merged their retail services as of 1 December 2023.
Please select Your topic on SB.lt webpage.
INVL and Šiaulių bankas merged their retail services as of 1 December 2023.