Finance Minister Gintarė Skaistė of Lithuania is inviting Polish financial institutions to expand into Lithuania to increase competition and the range of financial services available. The Lithuanian banking sector is currently dominated by two major banks, leading to high margins and limited financing options for businesses. Vaida Markevičienė, Vice Minister of Finance, suggested Polish institutions as natural candidates for expansion due to the close relations and significant economic cooperation between the two countries. While Marius Dubnikovas, a financial analyst, welcomed the potential for increased competition, he also pointed out that Lithuania’s strict risk assessment and high profit tax could deter potential foreign investors. Despite these obstacles, the Lithuanian government believes the country is attractive to foreign financial sector companies and is committed to increasing its financial market diversity.
Source: lrytas.lt
