Vilnius, Lithuania, 2012-07-11 15:35 CEST (GLOBE NEWSWIRE) --
On 10 July 2012 AB SEB bankas received from the Competition Council of the
Republic of Lithuania (hereinafter the Competition Council) the Statement of
Objections on the investigation performed regarding compatibility of the
actions of AB SEB bankas and several other entities with the requirements of
the Article 5 of the Competition Law of Republic of Lithuania and requirements
of the Article 101 of the Treaty on the Functioning of European Union
(hereinafter the Statement of Objections). According to the preliminary view of
the investigators who prepared the Statement of Objections, the actions of AB
SEB bankas allegedly harmed competition in cash handling and collection
The sending of the Statement of Objections to the parties involved in the
investigation does not mean that it is already determined that the infringement
was made by AB SEB bankas and the findings of the investigation do not restrain
the Competition Council taking the final decision after completing all the
procedures associated with this investigation.
If the Competition Council acknowledges the evidence of the infringement to be
sufficient, it may require AB SEB bankas to cease the infringement and impose
the fine up to 10 percent of the total annual revenue of the last financial
This notification is non-confidential.
Raimondas Kvedaras, President of AB SEB bankas.
11 July 2012, Vilnius
Arvydas Zilinskas, Head of Media Relations of AB SEB bankas, tel. +370
5 268 1198, is authorized to provide additional information regarding the