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.

Prime Minister expects LNG terminal charge to be cut in December

Lithuanian Prime Minister Saulius Skvernelis expects that the Energy Ministry 's row with Achemos...

UK-based tech firm establishing developer team in Vilnius

The rapidly growing UK -based tech firm Velocity Black is establishing a developer team in its...

Central bank has no info on Swedbank's links to Syria's chemical weapons

The central Bank of Lithuania says it has no information to confirm claims by Swedish media about...

Vilnius to buy 50 new buses for EUR 19 mln

Vilnius will buy 50 new low-floor buses for 19.39 million euros from Adampolis , the Lithuanian...

Viciunai establishes enterprise in Tbilisi hoping to double sales

Viciunu Grupe (Viciunai Group), a business group controlled by Visvaldas Matijosaitis, mayor of...