Politics
Vasiliauskas re-appointed governor of Lithuania’s central bank
Vitas Vasiliauskas, board chairman of the central Bank of Lithuania, will head the bank for another five-year term. […]
Bank of Lithuania
CORPORATE
Number of Lithuanians without a bank account increasing rapidly
The number of Lithuanian citizens without bank accounts or other payment facilities has grown rapidly in Lithuania over the past three years, with the largest increase in the past year. A Bank of Lithuania survey […]
CORPORATE
Increasing profitability drives half of Lithuanian companies to raise wages
The number of Lithuanian companies operating profitably increased over the last six months with a majority raising wages, said the head of the macro-prudential analysis department at the Bank of Lithuania Andrius Škarnulis on Žinių […]
CORPORATE
Lithuania to get low fee basic bank account under new proposal
The idea of a basic bank account that would attract a low flat fee and allow Lithuanians to get a complete service package in one account at a fixed commission is being moved forward by […]
CORPORATE
Lithuanian central bank warns banks may have to increase capital requirements
Lithuanian commercial banks may have to accumulate additional capital buffers for risk control, said Vitas Vasiliauskas, the head of Bank of Lithuania, at the Lithuanian Banking Association conference. […]
Politics
Lithuanian central bank head nominated for second term
Lithuanian President Dalia Grybauskaitė has nominated Vitas Vasiliauskas, the current chairman of the board at the Bank of Lithuania, for a second term in the post. The appointment has to be endorsed by parliament, the Seimas. […]
CORPORATE
New law to allow mergers of credit unions
The Lithuanian parliament is to consider a bill allowing mergers of credit unions. The Bank of Lithuania says the measure would improve the credit unions’ viability and introduce new players in the country’s financial market. […]
CORPORATE
Is a new real estate bubble inflating in Lithuania?
Investment in residential real estate in Lithuania last year bounced back to levels last seen in 2007, the year before the financial crisis set in, bursting what was then seen as a real estate bubble. […]
Economy
Scandinavian banks lose interest in Lithuania due to low returns
Scandinavian banks are no longer interested in expanding lending in Lithuania due to falling returns, said Stasys Kropas, the president of the Association of Lithuanian Banks. […]
Economy
Lithuanian central bank to make sure fixed rate loans’ rates are “fixed”
The Lithuanian Central Bank is to introduce new rules to ensure that interest rates on fixed rate loans remain the same over the whole period of the loan. […]
CORPORATE
Bank of Lithuania wants it to be easier for businesses to take out loans
The Bank of Lithuania has suggested amendments that would ensure that businesspeople seeking loans from commercial banks would not have to use their personal assets as collateral in all cases. Other proposed measures would also ensure that businesspeople taking out loans wouldn’t take on too much debt. […]
CORPORATE
New consumer protections to stop hidden insurance charges on way – Lithuanian Central Bank
The Bank of Lithuania has proposed regulations for the insurance investment market, aimed at strengthening consumer protection and capping how much insurance companies can charge for asset management. […]
Economy
Making Lithuania’s tax system more like Estonia’s would generate extra €2bn, says economist
If Lithuania made its tax system more transparent, like Estonia‘s, it could collect about €2.5 billion more to its coffers each year, says economist Raimondas Kuodis, deputy chairman of the Bank of Lithuania. […]
Economy
Three instant credit companies fined for irresponsible lending
Three instant credit companies have been sanctioned by the Bank of Lithuania for failing to properly vet their clients’ credit worthiness. […]
Economy
Bank ordered to charge negative interest rates on its loans
The Bank of Lithuania, Lithuania’s central bank, has ordered Nordea Bank AB to charge negative interest rates on its loans after the basic interest rate dropped below the bank’s surcharge rates. […]
CORPORATE
Negative interest rates help Lithuanian borrowers but may signal coming financial crisis
Negative interbank interest rates are making life easier for Lithuanian borrowers, both consumers and businesses, but Lithuania’s financial experts are worried that it may create another financial crisis and could be sign of a coming economic downturn. […]
CORPORATE
New internet payment platform to be created by Lithuania’s central bank
The Lithuanian Central Bank is putting new rules in place to promote a new internet payment service that will create alternative payment platform for customers who buy goods in online Lithuanian stores. […]
Economy
Credit company fined record €30k for giving loans to jobless
Lithuanian banking regulators have hit a consumer credit company with a fine of €30,000 for issuing loans to unemployed applicants, the biggest penalty of this kind to date. […]
CORPORATE
Economy