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Noise regarding Scandinavian banks. Are there really too many in Lithuania?

Almost fifty Lithuanian and foreign capital banks have worked in Lithuania since 1989. There have been German, Irish and Polish banks, which eventually withdrew from the country or went bankrupt, Association of Lithuanian Banks president Mantas Zalatorius recalls. More competition would only benefit Lithuania, he believes, thus there is need for an ever more appealing investment environment. Meanwhile, economist Romas Lazutka says that it is difficult to enter the small oligopoly bank market in Lithuania, writes. […]

Mantas Zalatorius, Stasys Jakeliūnas

S. Jakeliūnas’ statement surprises bank association head: are you trying to cause panic in the markets?

There is too great a concentration of Swedish banks in Lithuania, thus one of them should be sold. This was a statement by Seimas Budget and Finance Committee chairman Stasys Jakeliūnas on Wednesday. SEB bank and Swedbank – these are namely two Swedish capital banks operating in Lithuania and other Baltic states and if they didn’t flinch, they must have at least been listening carefully, this was a statement by a politician from the ruling coalition. […]