Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.9 - Other financial service activities, except insurance and pension funding

400 jobs
Number of planned job losses
Job loss
Announcement Date
18 June 2013
Employment effect (start)
4 July 2013
Foreseen end date


A private-capital commercial bank Ukio bankas intends to dismiss nearly 400 employees in Lithuania on 4 July, 2013. In February, 2013 Ukio bankas was revealed to have poor asset quality, weak risk management and lack of proper operating data. On 12 February, 2013 the Central bank of Lithuania announced a partial restriction on activities of the bank. On 18 February, 2013 after assessing the interim report on the financial standing of Ukio bankas the Board of the Bank of Lithuania recognised the Bank as insolvent and took a decision to permanently revoke the banking licence issued to this Bank. On 2 May, 2013 a Lithuanian court began bankruptcy procedures against Ukio Bankas at the request of the Central bank of Lithuania.


  • 18 June 2013: Verslo zinios
  • 18 June 2013: AB Ukio bank (press release)


Eurofound (2013), Ukio bankas, Bankruptcy in Lithuania, factsheet number 75614, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75614.