Lithuania is in the zone of influence of Scandinavian banks, however, Russian banks also have low-key operations in the country and hand out loans to Lithuanian businesses, which Scandinavian-operated local banks are not extremely happy about and warn about risks, Verslo Žinios daily said.
Sberbank
© Sputnik/Scanpix

The central Bank of Lithuania has also advised to be cautious with Russian banks.

According to the daily, one of the most recent examples of Russian banks' operations in Lithuania – a 40-million-euro loan from the Russian state bank, Sberbank, to Baltic Champs Group controlled by Lithuanian businessman Kęstutis Juscius. Juscius has not confirmed the report, however, information available to Verslo Žinios suggests that the loan was provided by Sberbank's division in Austria, Sberbank Europe.

"I cannot confirm your information that the loan was provided to Baltic Champs Group by Sberbank but I can confirm that the financing of the deal came from a European bank operating from Austria, not a Lithuanian bank," said Juscius.

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