aA
The existing situation in the Lithuanian banking market makes one to start thinking about the establishment of a state commercial bank, President Gitanas Nauseda says, adding that Lithuania should step up competition in the banking sector.
Gitanas Nausėda
Gitanas Nausėda
© DELFI / Kiril Čachovskij

"In that respect, I would very seriously think – together with the government – about the establishment of a state commercial bank. In the existing situation, this alternative shouldn't be a taboo," Nauseda said in an interview with the delfi.lt news website.

"I think we could start discussions on ways to establish a state commercial bank in Lithuania," he added.

Nauseda also believes the proposed banking asset tax could be moved onto interest rates.

The Lithuanian government is now proposing introducing a 0.03 monthly rate tax on assets exceeding 300 million euros of banks, credit unions and other loan issuers as of next year.

Revenue from such a tax is already included into the 2020 state budget bill, estimated to stand at around 50-60 million euros.

But the Association of Lithuanian Banks says the proposed tax runs counter to the country's Constitution.

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

No plans to relaunch Vilnius-Minsk passenger train services

Minsk wants to relaunch passenger train services to Vilnius, halted two years ago due to the...

Lithuania bans Russian gas imports except transit to Kaliningrad

Lithuania has passed a law banning Russian natural gas imports into the country, except for gas...

Key Lithuanian companies protected from Russian, Belarusian control

As Latvia last week banned Russian and Belarusian legal or natural persons from holding stakes in or...

Lithuania and Kazakhstan aim to develop economic ties and transport connections

Lithuania and Kazakhstan seek to increase the volume of bilateral trade through much closer...

Court: Belaruskali and LTG contract posed threat to national security

The contract between Belarusian fertilizer producer Belaruskali and Lietuvos Gelezinkeliai (Lithuanian...

Top news

Bilotaite: Amnesty's report on migrants out of context

Amnesty International's report on the treatment of irregular migrants by Lithuania's authorities fails...

A memorial plaque to Lithuanian writer removed in Russia's Sovetsk

A memorial plaque to Vilhelmas Storosta-Vydunas, a Lithuanian writer and philosopher who lived and...

President: Canada to open its embassy in Vilnius shortly

Canada is set to open its embassy in Vilnius, Lithuanian President Gitanas Nauseda said.

Rocky Balboa—Lithuanian style

If you wanted a game where Lithuanian fans would have three heart attacks, two strokes and a brain...

Student from Colombia: even in the same country people have cultural differences

Colombian Gerson David Pinto Chica came to Kaunas from Kibaha in Tanzania, where his family currently...