Banking sector

Banking sector – banks established in Lithuania, foreign bank branches, and specialised banks.

Bank – a credit institution established in Lithuania, which has the right to receive deposits and lend funds, provide transfer of funds and other financial services.

Foreign bank branch – a branch of a bank established in a foreign country in Lithuania. It has the right to receive deposits and lend funds, provide transfer of funds and other financial services; however, deposits with the branch are insured in the foreign country.

Specialised bank – a credit institution established in Lithuania, which has the right to receive deposits, lend funds, provide transfer of funds and other usual banking services. A specialised bank cannot provide investment and other similar financial services.

At the time, 13 banks in Lithuania are holding a bank or a specialised bank licence, while 5 banks are carrying out their activities as foreign bank branches. The four largest banks registered in Lithuania (Swedbank, AB, AB SEB bankas, Revolut Holdings Europe, UAB and AB Šiaulių bankas) are supervised directly by the European Central Bank jointly with Bank of Lithuania experts.