Bank of Lithuania
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The number of specialised banks providing competitive services to consumers continues to grow: following the proposal of the Bank of Lithuania, the European Central Bank (ECB) granted Saldo Finance, UAB a specialised bank licence. It is already the eighth financial market participant to be granted such a licence. 

Saldo Finance, UAB is currently providing consumer loans in Lithuania and expanding its activities. Having secured the licence, Saldo Finance, UAB is expected to accept deposits, grant loans for individuals, small and medium business and provide payment services via automated solutions in our country and later in Finland and Sweden. 

The shareholders of Saldo Finance, UAB are natural and legal persons residing in Finland. The companies owned by the shareholders are granting loans to the residents and businesses in Finland and the residents in Sweden.

Currently, there are six specialised banks carrying out their activities in Lithuania: AB Mano bankas, Revolut Bank UAB, UAB GF bankas, AB Fjord Bank, European Merchant Bank UAB and UAB SME Bank. They focus on acceptance of deposits and provision of loans. 

A number of these specialised banks actively use FinTech and help boost competition as well as attractiveness and accessibility of services. They have the right to accept deposits, grant loans and provide funds transfer and other usual banking services, however, specialised banks cannot provide investment and other similar financial services. The opportunity to establish such banks was introduced in 2017.