in 2024 Several smaller banks may start operating in the Lithuanian market, said Simonas Krėpšta, a member of the board of the Bank of Lithuania (LB). According to him, both local and foreign financial companies are planning to start operations this year.
"It is very likely that a number of smaller banks, both foreign and those seeking licenses, will add to our sector this year." But here we are talking about smaller commercial banks," Simonas Krėpšta told reporters on Thursday.
"There are talks about branches and new licenses. And as soon as the decision is made, the banks themselves will inform," he added.
The LB board member did not disclose the names of these banks.
S. Krėpšta emphasized that the companies that can start operations in Lithuania are "sufficiently niche". According to him, LB is trying to attract big players as well.
"Undoubtedly, LB is making efforts to have more serious players in the banking market, but at the moment we have no news," said S. Krėpšta.
ELTA reminds that in 2023 at the end of the year, Finance Minister Gintarė Skaistė and LB head Gedininas Šimkus said that the interest in the Lithuanian market from abroad is palpable, and the arrival of a new participant is probably only a matter of time.
At the moment, 18 participants operate in the Lithuanian banking sector: 13 have bank licenses, another 5 operate as branches of foreign banks. Most of the market is occupied by "Swedbank", SEB and Luminor.
Žygymantas Šilobritas (ELTA)
