aA
The financial market's new participants' interest in Lithuania has cooled, the head of the country's central bank Vitas Vasiliauskas says, citing discussions and doubts n the country's over the credibility of certain startups.
Vitas Vasiliauskas
Vitas Vasiliauskas
© DELFI / Andrius Ufartas

"If we speak about specialized bank licenses, so we still have the same number of them, four, in process, if I'm not mistaken. We also have an additional number of interested parties. As far as it has to do with e-money institutions and payment institutions, so I would say the peak time is already in the past. I believe those internal discussions unfortunately, had their role. It’s not bad. I am a realist and, let's say, we are not interested in empty companies that just want to get a license," Vasiliauskas told journalists on Friday.

"We aimed at big names. And now we see "small fish" left, and they will probably build some muscle over time. But the interest of big names is over. And that's all. In my opinion, the effect of purposeful work of the past two years is weakening," the central banker said.

He also underlined that the Bank of Lithuania is interested in attracting companies creating real value to Lithuania.

"We are interested in companies that have jobs here. With no doubt, we are perfectly aware that the euro zone is the key goal and providing financial services across the European Union. But our goal is to build an ecosystem here in Lithuania for infrastructure and back offices to be here in Lithuania and for added value to be here in Lithuania," Vasiliauskas said.

He refrained from commenting on plans by the UK fintech startup Revolut, having a specialized bank's license issued by the Bank of Lithuania, to seek an e-money license in Ireland.

"They could probably comment on that better. It’s just a business decision and that's all. But the internal discussions, with no doubt, contribute. I would do the same in their place," Vasiliauskas said.

It was reported in May that a Lithuanian government commission looking into strategic companies' transactions would launch a new review into Revolut's credibility. It will be a third review already, despite the first two concluding that Revolut does not pose any threat to national security.

Revolut Bank was issued a specialized bank license by the European Central Bank in December upon consent of the Bank of Lithuania.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Sapoka: country's economy is withstanding pandemic challenges very well

Lithuania's economy is coping very well with challenges induced by the coronavirus crisis, and the...

Zalatorius steps down as head of Lithuania's banking association

Mantas Zalatorius , suspected of corruption, is stepping down as head of the Association of...

Coronavirus-triggered economic crisis less severe than in 2009

Lithuania's gross domestic product contracted by 3.7 percent in the second quarter of 2020 from a...

Kucinskas is under investigation in Lithuania as well

Vidmantas Kucinskas , the founder of the Arvi business group who has been recently detained in...

Sources: Game Insight hit by Chinese hackers (2)

Game Insight , a Lithuanian developer and publisher of free-to-play mobile games and social-network...

Top news

Corruption-suspected health vice minister hands in resignation letter (1)

Lithuania's Deputy Health Minister Lina Jaruseviciene recently named a suspect in an investigation...

Checkpoint on Lithuanian-Belarusian border to be opened

Lavoriskes-Kotlovka border checkpoint on the Lithuanian-Belarusian border will be opened on Tuesday.

Tornau wins competition for cultural attaché to UK

Ula Marija Tornau has won the Lithuanian Culture Ministry's competition for the post of cultural...

17 new coronavirus cases

On Monday 17 new COVID-19 cases were detected in Lithuania. Overall, it adds to 2137 confirmed...

2-week isolation for returnees from France, Malta ordered

Lithuanian nationals returning from France and Malta have to self-isolate for two weeks as of...

|Maža didelių žinių kaina