Lithuanian Prime Minister Ingrida Simonyte has expressed scepticism about an idea to establish a state-run second-pillar pension fund, Baltic News Network reports. She noted that there was plenty of competition in the pension fund market, and that the activities of pension funds were well regulated. The problem was that there was not much choice on…
New players will enter the Lithuanian banking market in 2024, Simonas Krepsta, board member of the Bank of Lithuania, announced, BNS reports. Speaking in an interview with LRT, Krepsta said that Polish banks had contacted Lithuanian regulators and the business community. He noted that the Lithuanian banking sector was “exceptionally profitable.” Earlier, Poland’s Bank Pekao…
Poland’s Bank Polska Kasa Opieki (Bank Pekao) plans to open a branch in Lithuania, according to Gediminas Simkus, head of the Bank of Lithuania, BNS reports. Speaking in an interview with 15min, Simkus said that Bank Pekao’s representatives visited Lithuania in December 2023. He was optimistic about the bank setting up operations in Lithuania. Sources…
Lithuania’s GDP will decline by 1.4% in 2023 and grow by 2.9% in 2024, the International Monetary Fund (IMF) forecasts, BNS reports. The country’s GDP will continue to rise by 2.7% in 2025, by 2.5% in 2026, by 2.2% in 2027, and by 2.1% in 2028, the IMF projects. Annual inflation will slow down to…
The board chairman of Lithuania’s central bank, the Bank of Lithuania, Gediminas Šimkus, said that German banks would be welcome in Lithuania, ELTA reports. Speaking at an event hosted by Lithuania’s honorary consul in Germany, Šimkus noted that the Lithuanian banking sector was still concentrated, with only three major banks accounting for the majority of…