CORPORATE
Growing number of Lithuanians investing in state securities
A growing number of Lithuanians are investing in state securities that finance state borrowings, according to the latest figures from the Ministry of finance. […]
Finance
CORPORATE
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
CORPORATE
Banks fail to develop common solution to replace code cards
Commercial banks in Lithuania have still not developed a common alternative for code cards, whose use will be restricted from April. […]
Economy
Why Lithuanians prefer to go bankrupt abroad
After Lithuania legalized bankruptcy procedures for individuals three years ago, only 17 people have made use of the relief from their debts by declaring bankruptcy. Another 900 have started bankruptcy procedures which take three years. Lithuanians who want to go bankrupt faster and easier still prefer to do it in Latvia or the United Kingdom. […]
Economy
Over half of Lithuanians stashing large amounts of money at home
Many Lithuanians are still keeping large amounts of money at home rather than lodging it in a bank, according to a new survey. […]
Economy
Tackling tax evasion sees Lithuanian government tax revenues rise 7%
Increased efforts to tackle tax evasion and the black market led to a significant increase in tax revenues for the Lithuanian government in 2015, according to Prime Minister Algirdas Butkevičius. […]
Economy
Economy has bigger impact on Lithuanian stock market than ‘China effect’, say analysts
While the global fall in stock markets is affecting the performance of the Lithuanian and Baltic stock markets, the macro-economic performance of Lithuania and the Baltic states will have more of an influence on whether stocks rise or fall in the near future. […]
Economy
Shareholders sack CEO of Lithuania’s biggest consumer credit company after central bank’s sanctions
After the Bank of Lithuania revoked the licence of 4finance, the country’s leading consumer loan company, last week, it said it would contest the decision. Less than a week later, however, the company’s shareholders sacked its general manager Gediminas Velička. […]
Economy
Lithuania’s biggest consumer credit company sanctioned for ‘irresponsible lending’
4finance, the leading consumer credit company in Lithuania, has had its licence revoked by the Bank of Lithuania following repeated violations. […]
Economy
Geopolitical tensions seen as biggest threat to Lithuania‘s financial system
The key risks to Lithuania‘s financial system come from geopolitical tensions in Eastern Europe and a prolonged low interest rate period, according to a survey by the Bank of Lithuania. […]
European Union
Lithuania finalizes legislation to join banking union
The Lithuanian Parliament has adopted the final amendments satisfying legal conditions that will ensure Lithuania’s full-fledged participation in the banking union. […]
Economy
Lithuanian parliament drops progressive tax idea
The Seimas, the Parliament of Lithuania, has rejected the initiative to introduce progressive taxation. […]
Economy
Lithuania’s central bank proposes to cap charges for basic banking services
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. […]
Economy
Lithuania’s 2016 public spending on brink of violating fiscal rules
The National Audit Office criticised Lithuania’s national budget for 2016, saying it was based on excessively optimistic tax collection expectations. Minister of Finance Rimantas Šadžius has dismissed the remarks. […]
Economy
Loan insurance company to look for Lithuanian debtors in UK
The government-run company Būsto Paskolų Draudimas, or Housing Loan Insurance, will search for people who have defaulted on their loans and emigrated to the United Kingdom. […]
Economy
Lithuania’s banks plan more lending
According to the assessment of commercial banks, the financial status of residents and of the majority of the economic activities is improving – the survey of banks, initiated by the Bank of Lithuania, reveals that banks plan to increase loan portfolios moderately, the country’s central bank reports. […]
Economy
Most Lithuanians trust banks, but not instant credit companies
Two thirds of Lithuanians trust insurance companies and the same number of people is suspicious of instant credit companies. […]