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Poland’s Pekao bank aims to operate in Lithuania

Poland’s Pekao bank aims to operate in Lithuania

11:46, 21.08.2024
  sd/rl/pk/pl;   PAP
Poland’s Pekao bank aims to operate in Lithuania Poland’s second-largest bank, Pekao S.A., and Commerzbank AG, one of the biggest banks in Germany, have informed financial regulatory authorities in Lithuania that they plan to operate in the Baltic country, the head of the Lithuanian central bank has said.

Poland’s second-largest bank, Pekao S.A., and Commerzbank AG, one of the biggest banks in Germany, have informed financial regulatory authorities in Lithuania that they plan to operate in the Baltic country, the head of the Lithuanian central bank has said.

Illustrative Photo by Aleksander Kalka/NurPhoto via Getty Images
Illustrative Photo by Aleksander Kalka/NurPhoto via Getty Images

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In recent years, Lithuania has sought a greater presence of foreign banks.

Last month, the Lithuanian business newspaper Verslo žinios reported the Bank of Taiwan plans to open a branch in Lithuania.

In January, in an interview with the Lithuanian news website 15min.lt, Gediminas Šimkus, the head of the Bank of Lithuania, confirmed a report by the BNS news agency that Poland’s Pekao was considering setting up a branch in Lithuania.

Šimkus said that Pekao and Commerzbank do not need an additional license to operate in Lithuania because they already operate in the European Union.

“There is more than one form of activity. The bank can have its own proprietorship in Lithuania, it can have a branch or department, it can have a representative office,” Šimkus added.
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źródło: PAP

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