Bank of Lithuania sets its strategic objectives for 2022–2025
The Board of the Bank of Lithuania approved the new operational strategy for 2022–2025 and updated its organisational values.
The three new strategic directions of the bank include value (a financial sector that generates value for consumers), sustainability (a financial sector that promotes sustainable economic development) and progress (a progress-oriented organisation). Specific objectives were set for each strategic direction.
Objectives for the strategic direction related to value:
- Enhance the quality and accessibility of financial services and inclusion of different social groups as well as achieve the integrity of the financial services market
- Increase the spread and accessibility of payment instruments
- Increase the maturity of new market participants and conformity of products
- Improve economic and financial literacy of the general public
- Strengthen Lithuania’s long-term economic analytics
- Boost competition of Lithuania’s financial sector and promote sustainable and innovative market development
Objectives for the strategic direction related to sustainability:
- Manage and mitigate climate risks
- Ensure sustainable activities of the Bank of Lithuania
Objectives for the strategic direction related to progress:
- Increase the maturity of data management
- Digitalize the processes and services of the Bank of Lithuania
- Strengthen the resilience of the financial system to internal and external shocks
- Be among the three most efficient central banks in the Nordic-Baltic region
- Develop competences and talents relevant (necessary) to the Bank of Lithuania
- Strengthen the representation of the Bank of Lithuania at the EU and international levels
Organisational values were also updated along with the operational guidelines for 2022–2025 approved by the Board of the Bank of Lithuania. The new values are value to society, accountability, and continuous progress.