Tesonet Global Boosts Stake in Artea Bank: A Sign of Confidence and Digital Ambition

VILNIUS, LITHUANIA – November 20, 2025 – Tesonet Global, a prominent technology investor, has significantly increased its shareholding in AB Artea bankas, formerly Šiaulių Bankas, solidifying its position as a major stakeholder. Recent transactions on the Nasdaq Baltic Exchange, totaling EUR 5.16 million, have raised Tesonet Global’s stake from 6.14% to 7.05%, a move analysts interpret as a strong vote of confidence in the bank’s ongoing strategic transformation and ambitious digital initiatives.

A Strategic Investment in a Changing Landscape

The increased investment comes at a pivotal time for Artea Bankas. The bank is undergoing a comprehensive rebranding and a substantial digital overhaul, aiming to become a leading financial institution in Lithuania by 2029. This involves not only a name change – moving from Šiaulių Bankas to Artea Bankas – but also a complete upgrade of its core banking system with Temenos, a cloud-based platform. “This isn’t simply about a cosmetic change,” explains one industry observer. “Artea Bankas is fundamentally reshaping its infrastructure to compete in the modern digital banking landscape.”

The timing aligns with a broader trend of consolidation and modernization within the Lithuanian banking sector. While the country's banking market is relatively fragmented, there's increasing pressure on institutions to invest in technology to improve efficiency and customer experience. This investment from Tesonet Global seems to be a bet on Artea Bankas’ ability to successfully navigate this evolving landscape. The bank recently reported a net profit of €31.9 million for the first half of 2025, though down 26% year-on-year, and has set ambitious goals to double its client base.

Tesonet’s Growing Fintech Footprint

Tesonet Global isn’t new to the financial technology space. The company’s portfolio includes significant investments in cybersecurity, notably through its backing of Nord Security (NordLayer/NordVPN), and a track record of supporting innovative tech companies. This suggests a strategic alignment with Artea Bankas’ digital ambitions. “Tesonet’s involvement is more than just financial,” notes a banking analyst. “They’ve demonstrated a clear appetite for investing in companies that are disrupting traditional industries with technology.”

This investment builds on a pre-existing relationship, with Tesonet Global first acquiring a stake in Artea Bankas (then Šiaulių Bankas) in 2021, alongside other investors like Invalda INVL and Willgrow, acquiring shares from the European Bank for Reconstruction and Development (EBRD). The continued investment signals a long-term commitment. Furthermore, Tomas Okmanas, CEO of UAB Tesonet Global, also serves on Artea Bank's Supervisory Board, providing direct oversight and strategic guidance. This dual role underscores the depth of Tesonet’s commitment and involvement.

Digital Transformation as a Key Driver

Artea Bankas’ digital transformation isn’t just about adopting new technology; it’s about fundamentally changing how the bank operates and serves its customers. The implementation of the Temenos platform is expected to streamline processes, improve efficiency, and enhance the customer experience. “The goal is to create a seamless and personalized banking experience for our customers,” stated a bank spokesperson. “We want to be able to offer them the same level of convenience and accessibility that they expect from other digital services.”

This transformation is also driven by the bank’s ambition to attract a new generation of customers. Artea Bankas is targeting a younger, more tech-savvy demographic and is investing in digital channels and innovative products to appeal to them. The bank recently completed a second share buyback program, acquiring over 2.5 million own shares, demonstrating confidence in its future prospects. While short-term earnings were down 26% in the first half of 2025, a 16% quarter-over-quarter increase in Q3 demonstrates positive momentum and progress.

Regulatory Compliance and Transparency

All transactions undertaken by Tesonet Global, including those involving individuals closely associated with management, have been publicly disclosed on the Nasdaq Baltic Exchange and comply with all relevant regulatory requirements. The Bank of Lithuania and the Lithuanian Securities Commission oversee these transactions, ensuring transparency and compliance. “Adherence to regulatory standards is paramount,” emphasized a legal expert. “These disclosures demonstrate a commitment to good governance and transparency.”

Furthermore, the bank's SREP (Supervisory Review and Evaluation Process) capital requirements, recently set on October 31, 2025, are in compliance with Lithuanian financial regulations, demonstrating the bank’s financial stability and ongoing oversight. This comprehensive approach to transparency and regulatory compliance underscores the bank’s commitment to responsible financial practices.