Lithuania’s central bank would gladly welcome the entry of German banks into the country’s banking sector, in an attempt to increase competition. An event to highlight the advantages of Lithuania’s banking sector was held by the central bank and the country’s honorary consul in Germany. Chairman of the Bank of Lithuania, Gediminas Šimkus, highlighted the concentrated nature of the country’s banking sector and the need for increased competition. German banks with significant financial strength and experience are expected to compete effectively. Lithuania’s banking sector performance is one of the best in Europe, demonstrating the readiness to welcome new entrants.
Source: delfi.lt
