Private borrowing on the rise in Lithuania

Payments
Credit cards / Vida Press

Lithuanian Banking Association says that people in the country are borrowing far more actively this year than in 2015.

Lithuanians are also more using bank cards more actively, even though cash remains the most popular form of payment.

In the first quarter of this year, compared to the same period last year, consumer credit increased by more than a tenth. The number of leasing contracts has grown by a fifth.

Credit card turnover has increased by a fifth as well.

However, head of the Lithuanian Banking Association Stasys Kropas said that cash is still more popular payment method than bank cards.

LRT

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