Mission, vision, values

The mission of the central bank of the Republic of Lithuania, Lietuvos bankas, is to create a strong and prosperous Lithuania while ensuring a reliable financial system and sustainable economic growth. The monetary policy decisions of the euro area, which we adopt and implement as part of the Eurosystem together with the European Central Bank (ECB) and the other 20 countries that have adopted the euro, are immensely important. The main goal of the ECB is to maintain price stability in the euro area over the medium term.

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More on the mission, vision, and values of Lietuvos bankas

Our mission is to create a strong and prosperous Lithuania while ensuring a reliable financial system and sustainable economic growth. To accomplish the mission, we rely on highly qualified employees as well as the required financial and technological resources.

The common purpose of the employees of Lietuvos bankas is ensuring a reliable financial system and sound money. As a purpose-driven organisation, we perform the functions laid down in the Republic of Lithuania Law on the Bank of Lithuania and participate in implementing the euro area monetary policy with other members of the Eurosystem.

The vision of Lietuvos bankas is a financial system we trust: resilient, forward-looking, empowering. Together with the central banks of the euro area – 20 countries that have adopted the euro – and the European Central Bank (ECB) we form the Eurosystem. We participate in the activities of the ECB, the leading institution of euro area central banks responsible for the development and implementation of the monetary policy in the euro area.

Our organisation focuses on developing the necessary competencies and talents, with particular emphasis on strategic competencies, such as leadership, digital excellence as well as personal and team effectiveness. We apply innovations, advanced technical solutions, and efficient work organisation methods in our operations. We organise lectures for our employees on topics of inclusivity, diversity, and emotional well-being, and provide flexible work from home conditions. Moreover, our employees have opportunities to learn by exchanging experiences with their peers from other central banks and participating in mobility programmes. Together with the other Eurosystem central banks, we have signed and are implementing the equality, diversity and inclusion charter, aimed at ensuring equal opportunities and fostering a common corporate culture of inclusion and diversity in central banks.

We adhere to the principle of accountability to the public, which is characteristic of modern national central banks, by being transparent about our activities: we regularly provide the public with objective and comprehensive information about the bank’s activities, we explain and justify decisions and their motives.

We implement our strategic priorities on a daily basis while guided by values:

We create with purpose
We act responsibly
We boldly embrace changes
We win together

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Strategic objectives and value to stakeholders

We have identified five stakeholder groups and assigned them the value we create:

Strategic objectives and value to stakeholders

Strategic priorities and objectives

We have implemented and apply the principles of integrated strategic management, under which we have updated the Guidelines for the activities of Lietuvos bankas for 2026–2028. In the Guidelines, the Board of Lietuvos bankas has established strategic priorities for a three-year period. These priorities include both strengthening the stability and supervision of the financial system and implementing innovative solutions, developing open data and economic analysis, growing the capital market and improving the efficiency of processes within the organisation. All of this is linked by the common goal of creating long-term value for society and strengthening trust in the financial system.

The strategic priorities and strategic objectives for 2026-2028 focus on four key areas:

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Resilient financial system

Reduction of fraud
Resilience of the financial system
Financial resilience of financial market participants
Organisational resilience of Lietuvos bankas

We pursue this strategic priority by reducing the scale of financial fraud and strengthening the resilience of the financial system to various risks. We are focusing on the maturity of market participants, cybersecurity, and crisis preparedness to make sure the system works reliably even when in case of uncertainty.

Resilience is consistently being strengthened by increasing the number of exercises and testing business continuity plans – from emergencies to recovery of processes critical for the financial market. Preparedness is assessed using up to 20 different scenarios in order to ensure the continuity of services.

At the same time, we are strengthening the organisational resilience of Lietuvos bankas, specifically its ability to perform its functions without interruption, to adapt quickly to changes and to operate effectively under various conditions.

Diversity, mobility and accessibility of services

Accessibility – regional inclusion
Mobility – ease of choosing/switching the provider
Diversity – competitive environment, product choice alternatives
Catalyst for innovation in the financial system
Capital market development and accessibility

Ensuring that the competitive environment offers real choices in the area of financial services and products. Lietuvos bankas contributes to accelerating changes in the financial system and introducing new solutions by promoting innovation and more advanced service models. Particular attention is paid to the development of the Lithuanian capital market and its accessibility to issuers and investors, with the aim of gradually making the capital market equivalent to the traditional banking sector in the financial system.

At the same time, the aim is to increase consumer satisfaction with financial services, facilitate the switching of service providers and strengthen competition in the market. Particular emphasis is placed on improving the accessibility of payment services and cash in regions, ensuring that essential financial services are accessible to all.

Reliable and well-recognised expert leadership

Independent and timely assessments of key issues in the Lithuanian economy
Proactive identification of challenges in the Lithuanian economy, insights, and public discussion
Achieving progress in economic science through partnerships with universities
Open data ecosystem for economic analysis and decision-making

This priority is being implemented by providing independent, timely and in-depth economic assessments that contribute to decision-making in a meaningful way. Lietuvos bankas is purposefully strengthening its role as a reliable centre of economic leadership by producing high-quality analyses, participating in public discourse and contributing to the formulation of economic policy at the national and international levels.

Progress in economic science is promoted by developing a strategic partnership with Vilnius University and jointly developing bachelor’s, master’s, and doctoral study programmes. At the same time, data openness is being strengthened by systematically integrating data into analytical and decision-making processes.

Operational efficiency

Lietuvos bankas’ employee engagement/self-realisation
Rational use of Lietuvos bankas’ resources – ‘more for less’
Customer experience management and process efficiency

This priority is pursued by ensuring sustainable cost management and growth, allowing for the responsible use of available resources and maintaining the long-term stability of the organisation. At the same time, customer experience and service quality are being consistently improved by focusing on transparent processes, convenient solutions and greater value creation for both external and internal customers.

The Strategy also clearly identifies the value we create for different audiences. For consumers of financial services – security and clarity in taking financial decisions; for providers of financial services – a transparent and predictable environment that strengthens trust in the entire system; for the public – stability of the financial system and prices, allowing for future planning. We create for each other an environment in which we strive for meaningful results and grow together and for our strategic partners – solutions that help create long-term value.

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Last update: 19-12-2024