Lithuania: Bank of Taiwan may compete with major banks

Lithuania’s central bank, the Bank of Lithuania, has called on Taiwan’s state-owned Bank of Taiwan (BOT) to provide as diverse banking services in Lithuania as possible, BNS reports. Earlier, business news outlet Verslo Zinios reported that BOT had obtained regulatory approval to open a representative office in Lithuania. Lukas Jakubonis, chief business development officer at the Bank of Lithuania, said that the central bank had been in direct contact with BOT, which was now analysing the Lithuanian market. He suggested that BOT could compete with major banks and provide financial services to both individuals and organisations in Lithuania. Meanwhile, Finance Minister Gintare Skaiste said that BOT was likely to focus on business clients.