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.

It is forbidden to copy the text of this publication without a written permission from DELFI.

Lithuania to step up visa issuance for foreign startups

Lithuania will start issuing visas to businessmen establishing startups in the country faster as of...

Lithuania's aviation group buying UK's charter airline

Avia Solutions Group , an aviation group owned by Lithuanian businessman Gediminas Ziemelis , is...

Training center to replace old correctional facility in Vilnius

The demolition of an unused complex of buildings that used to house a correctional facility will...

120 million EUR will be provided for European beekeepers

The European Commission will provide €120 million to the EU's beekeeping sector over the next...

Court: Lithuanian companies don’t have to pay million-worth fine to Serbia

Arvi , a Lithuanian fertilizer, fodder, sugar and turkey meat production group owned by businessman...