Economy

ECB stress test finds Lithuania’s banks secure and reliable

The three largest banks operating in Lithuania – SEB bank, Swedbank and DNB bank – have very solid capital buffers and assess risks conservatively enough. This became clear after the European Central Bank (ECB), in cooperation with the Bank of Lithuania, inspected the asset quality of the three commercial banks and performed stress testing, the country’s central bank said in a report on 26 October. […]

Finasta
Economy

Invalda LT-led consortium to negotiate acquisition of Finasta Banking Group

The Creditor’s Committee set the minimum selling price and the sale method of the Finasta Banking Group, and authorized the Snoras Bank bankruptcy administrator to complete negotiations with the investor which had submitted the best offer, namely the consortium led by investment company Invalda LT. Nevertheless, the acquisition is still to be approved by the Competition Council. […]

Economy

Bank of Lithuania kicks off frontloading euro cash to commercial banks

The first batch of the Lithuanian euro coins left the vault of the Bank of Lithuania on 6 October. It is designated to one commercial bank, which was the first to take 2-euro coins for EUR 45,000, the central bank said in a statement on Monday. […]

ECB President Mario Draghi and Bank of Lithuania Governor Vitas Vasiliauskas
European Union

ECB President Draghi in Vilnius: Lithuania would be disadvantaged among Baltics without euro

Mario Draghi, President of the European Central Bank (ECB), has handed a symbolic “Euro Star” to Vitas Vasiliauskas, the governor of the central Bank of Lithuania, on the occasion of Lithuania’s upcoming accession to the euro area. […]

The Baltic Way
Culture

Lithuanian central bank issues collectors coins to commemorate Baltic Way

The two collectors coins – 25 and 50 litas – issued into circulation by the Bank of Lithuania to commemorate the 25th anniversary of the Baltic Way depict a tree that is symbolic of Lithuania, Latvia and Estonia joining together in a living chain. […]