A new specialized bankEuropean Merchant Bank” will start its operations in Lithuania starting this autumn. The bank plans to start with providing its services for business and in 2020 it will start working with personal customers.

European Merchant Bank
© Bendrovės archyvas

“We will start providing our services in 2019 fall. For business we will be providing loans, payment and deposit services”, says Mindaugas Kyguolis, CEO of the bank.

“European Merchant Bank” became a member of the Association of Lithuanian banks on 1st of June. The financial institution got a specialized bank licence last year December.

As the CEO adds, the bank will focus on small and medium enterprises.

“Our market analysis shows that in Lithuania there are not enough financing opportunities for SMEs. Moreover, because of the lack of competition companies are faced with disadvantageous loan terms”, says M. Kyguolis in a press release.

“European Merchant Bank” is owned my Norwegian Ozan Ozerk.

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