Bank of Lithuania

Scandinavian banks are no longer interested in expanding lending in Lithuania due to falling returns, said Stasys Kropas, the president of the Association of Lithuanian Banks.

The Lithuanian Central Bank is to introduce new rules to ensure that interest rates on fixed rate loans remain the same over the whole period of the loan.

The Bank of Lithuania has suggested amendments that would ensure that businesspeople seeking loans from commercial banks would not have to use their personal assets as collateral in all cases. Other proposed measures would also ensure that businesspeople taking out loans wouldn't take on too much de...

The Bank of Lithuania has proposed regulations for the insurance investment market, aimed at strengthening consumer protection and capping how much insurance companies can charge for asset management.

If Lithuania made its tax system more transparent, like Estonia's, it could collect about €2.5 billion more to its coffers each year, says economist Raimondas Kuodis, deputy chairman of the Bank of Lithuania.

Three instant credit companies have been sanctioned by the Bank of Lithuania for failing to properly vet their clients' credit worthiness.

The Bank of Lithuania, Lithuania’s central bank, has ordered Nordea Bank AB to charge negative interest rates on its loans after the basic interest rate dropped below the bank's surcharge rates.

Negative interbank interest rates are making life easier for Lithuanian borrowers, both consumers and businesses, but Lithuania’s financial experts are worried that it may create another financial crisis and could be sign of a coming economic downturn.

The Lithuanian Central Bank is putting new rules in place to promote a new internet payment service that will create alternative payment platform for customers who buy goods in online Lithuanian stores.

Lithuanian banking regulators have hit a consumer credit company with a fine of €30,000 for issuing loans to unemployed applicants, the biggest penalty of this kind to date.

Norway’s biggest bank DNB has called for the country to completely abandon hard cash, but how would Lithuanians react to such a move here?

4finance Group S.A., a Riga-based online and mobile consumer lending group, has announced it has re-started lending operations in Lithuania through its subsidiary UAB Credit Service under the group’s brands Vivus and SMSCredit.

For almost every second family with financial liabilities, those liabilities are a great financial burden, but households with instant credit face the most difficulties, according to the latest survey of household financial behaviour commissioned by the Bank of Lithuania.

Foreign direct investment in Lithuania rose for a third consecutive quarter, with an inflow of €247.2 million FDI secured in the third quarter of 2015.

The Lithuanian parliament, with the blessing of President Dalia Grybauskaitė, approved a generous government budget for the year 2016 but views of whether such a budget is prudent are mixed.

After the Bank of Lithuania revoked the licence of 4finance, the country's leading consumer loan company, last week, it said it would contest the decision. Less than a week later, however, the company's shareholders sacked its general manager Gediminas Velička.

The introduction of the euro at the beginning of 2015 has had a significant economic impact on Lithuania, its citizens and businesses, according to the Bank of Lithuania (LB).

Nearly a year has passed since the adoption of the euro, but nearly LTL 525 million (€152 million) in cash still remains unexchanged by Lithuanians.

Lithuanian consumers and businesses saved some €40 million due to lower interest rates after the adoption of the euro a year ago, economists at the Bank of Lithuania say. Costs were also cut on currency exchange and due to lower rates on international money transfers.

A monument to the first manager of the Bank of Lithuania, Vladas Jurgutis, has been unveiled near the headquarters of the Bank of Lithuania.