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. […]
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. […]
About one tenth of all Lithuanian bank accounts will be scrutinised by the State Tax Inspectorate under a new law that requires banks to share information about depositors with tax authorities. […]
Commercial banks in Lithuania have still not developed a common alternative for code cards, whose use will be restricted from April. […]
Swedbank‘s deal with Danske Bank on taking over the latter’s retail banking services might put the Swedish bank into a dominant market position and therefore will need to be signed off by the Competition Council, a lawyer says. Still, there should be no trouble securing the competition watchdog’s approval, the business daily Verslo Žinios reports. […]
As of 1 January 2016, Lithuania is going to join the electronic euro payments area SEPA, encompassing 34 countries. From that day, the same payment order form will be completed for domestic payments and payments to other SEPA countries, whereas one account in any SEPA country will be enough in order to perform or receive payments, the Bank of Lithuania reports. […]
The Lithuanian Parliament has adopted the final amendments satisfying legal conditions that will ensure Lithuania’s full-fledged participation in the banking union. […]
The Bank of Lithuania has drafted a list of private banking services that it proposes should be made more accessible. If the proposal is endorsed by parliament, commercial banks will have to provide basic services like debit card administration, cash withdrawals and money transfers in the EEA to their clients at a fixed charge. […]
Two thirds of Lithuanians trust insurance companies and the same number of people is suspicious of instant credit companies. […]
The Seimas of Lithuania, parliament, has approved amendments to the Law on Consumer Credit which are aimed at regulating the consumer credit market in order to promote responsibility of consumer credit lenders and their clients. […]
On 18 August, Šiaulių Bankas received a notification from the Bank of Lithuania stating that its Board had passed a resolution endorsing the reorganisation of the bank Finasta AB which will be merged with Šiaulių Bankas AB. […]
Bankruptcy administrator of bank Snoras has started a new stage of property sales. The plan is to sell more than 1,500 movable and 250 immovable properties, including the bank’s former headquarters in Vilnius. The building, located on Vivulskio Street, will be the most expensive item on the list. Its initial price will be set at EUR 5.31 million. […]
On 17 July, Lithuanian bank Šiaulių Bankas acquired 100 percent of the shares of AB Bank Finasta and the financial brokerage firm AB FMI Finasta for the sum of EUR 6.19 million, Šiaulių Bankas reports. […]
On Friday, representatives of the Labour Party held a symbolic rally outside the Vilnius headquarters of the biggest commercial banks operating in Lithuania – SEB, Swedbank and DNB. […]
The central Bank of Lithuania must curb the growth of charges applied by commercial banks on cash withdrawals, Prime Minister Algirdas Butkevičius has said, slamming banks’ efforts to levy charges on withdrawals of larger amounts of money from ATMs. […]
Vladimir Antonov and Raimondas Baranauskas, former shareholders of Lithuania’s bankrupt bank Snoras, shall be extradited to Lithuania, two judges of the High Court in London have said after hearing the case, the web portal lrytas.lt reports. […]
The Bank of Lithuania has presented to market participants its proposals concerning changes to the Responsible Lending Regulations. They would introduce the requirement to responsibly assess customer’s risk due to likely interest rate increases, while the proposed shorter maximum maturity of a housing loan would speed up the repayment of the loan and reduce the possibility of over-indebtedness, the Bank of Lithuania said. […]
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