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CORPORATE

Lithuania first in world to regulate peer to business lending

Lithuania is soon to become the first country in the world to regulate lending between enterprises and their customers. “There are many countries which have similar borrowing alternatives, but they do not have regulation. We […]

Bank of Lithuanua president Vitas Vasiliauskas
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. […]

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Lithuanian banking profits fell by one fifth

Profit margins of major banks in Lithuania have fallen by about one fifth in 2015, a result of one-off factors like Lithuania’s accession to the euro zone and quantitative easing policies that have cut interest rates, Verslo Žinios reports. […]

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. […]