Finance

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.

Almost half of all Lithuanians have taken out loans or bought something on credit, but very few take an interest in their credit histories, something that may force them to pay higher interest rates on future loans, experts say.

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.

Už netinkamą vartojimo kredito gavėjų mokumo vertinimą, atsakingojo skolinimo principo ir netesybų ribojimo pažeidimus Lietuvos banko Priežiūros tarnyba UAB „IPF Digital Lietuva" (buvusiai UAB „MCB Finance"), valdančiai „Credit24" ir „Sving" prekės ženklus, skyrė tris baudas. Bendra baudų suma - 26 ...

The highest monthly salary in Lithuania last year hit €250,000 with about 200 people earning into the tens of thousands monthly according to TV3 news.

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.

About one tenth of all Lithuanian bank accounts will be scrutinised by the State Tax Inspectorate under a new law that requires banks to share information about depositors with tax authorities.

The Lithuanian government has agreed to extend a €420 million interest-free loan to Lithuania's social insurance fund, the Sodra, to help it "balance cash flows".

A growing number of Lithuanians are investing in state securities that finance state borrowings, according to the latest figures from the Ministry of finance.

Swedbank Lithuania’s net profit fell 21% to €85 million in 2015 driven by lower income from the introduction of the euro and credit impairments. The bank made a profit of €108 million in 2014.

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.

Commercial banks in Lithuania have still not developed a common alternative for code cards, whose use will be restricted from April.

After Lithuania legalized bankruptcy procedures for individuals three years ago, only 17 people have made use of the relief from their debts by declaring bankruptcy. Another 900 have started bankruptcy procedures which take three years. Lithuanians who want to go bankrupt faster and easier still pre...

Many Lithuanians are still keeping large amounts of money at home rather than lodging it in a bank, according to a new survey.

Increased efforts to tackle tax evasion and the black market led to a significant increase in tax revenues for the Lithuanian government in 2015, according to Prime Minister Algirdas Butkevičius.

While the global fall in stock markets is affecting the performance of the Lithuanian and Baltic stock markets, the macro-economic performance of Lithuania and the Baltic states will have more of an influence on whether stocks rise or fall in the near future.

Reikalavimo susimokėti už ramybę sulaukęs naktinių klubų Vilniuje ir Palangoje savininkas Arnoldas Vozbutas sako, kad į Lietuvą grįžta 1991-ieji – reketo metai. „Skirtumas toks, kad šiandien pasiremiama valstybinėmis institucijomis, o ne „berniukais“, – sako jis.

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.