Overview of Banks in Lithuania
The Bank of Lithuania acts as the central monetary authority in the country. The Lithuanian central bank sits as a non-Eurozone member of the European System of Central Banks. It oversees financial institutions and banks in Lithuania, formulates and implements monetary policy, maintains price stability, and issues the national currency.
Currently, 85 credit institutions operate in Lithuania, comprising six banks in Lithuania, seven branches of foreign banks, and 71 credit unions. Based on the Global Competitiveness Report 2017-2018 of the World Economic Forum, banks in Lithuania obtained a score of 4.8 in the soundness category, ranking 72nd on the WEF’s list.
In February 2021, Moody’s Investors Service raised the rating on Baltic banks from A3 to A2, with an outlook from positive to stable. The stable outlook reflects our expectation that the Lithuanian economy will remain relatively resilient to the impact of the coronavirus and will return to robust rates of growth in 2021 and beyond.
It also reflects our expectation that the government debt burden will broadly stabilize from 2022 onwards as the economy and public finances improve in the wake of the crisis. Moreover, Moody’s expects geopolitical risks stemming from Lithuania’s tense relations with Russia to remain stable over the coming 12-18 months.
For anyone considering a banking career in Lithuania, this list of top banks in Lithuania is a helpful guide on where to start. To learn more, see our list of financial institutions.
The Top Banks in Lithuania Include:
Swedbank Lithuania is one of the leading banks in Lithuania. It offers a full range of financial products and services, with a focus on retail customers and SMEs. The universal bank is a subsidiary of Sweden-based Swedbank AG.
Net income: EUR 96.78 million (2020)
Total assets: EUR 14.01 billion (2020)
Luminor Group acquired Luminor AB in January 2019. Luminor AB was created in 2017 after Nordea Bank and DNB Bank merged their Baltic businesses into the jointly owned bank. The bank offers a full range of financial products and services to all client groups, with a special focus on SMEs and high net worth individuals. Headquartered in Vilnius, it employs 1,303 staff and manages 45 branches.
Net income: EUR 52.35 million (2018)
Total assets: EUR 6.78 billion (2018)
Founded in 1856, SEB Banka operates as a subsidiary of Swedish financial conglomerate SEB Group. The bank caters to individuals, business entities, corporations, and institutions, providing retail, private, and corporate banking services. Based in Vilnius, it employs 1,517 individuals and oversees a network of three branches (comprising 34 customer service units), 528 ATMs, and 1,200 POS terminals.
Net income: EUR 93.13 million (2020)
Total assets: EUR 10.23 billion (2020)
AB Siauliu Banka
Established in 1992, AB Siauliu Banka provides corporate and private banking products and services to companies and individuals across Lithuania. The bank’s primary activities involve lending to SMEs under a risk-sharing credit facility. Headquartered in Siauliai, it employs 850 staff and operates 59 customer service outlets throughout the country, making it one of the largest banks in Lithuania.
Net income: EUR 43.04 million (2020)
Total assets: EUR 3.19 billion (3/2021)
Citadele Bankas AB
Founded in 1996, Citadele Bankas AB operates as a subsidiary of Latvia-based Citadele Banka. It offers banking, financial, and capital management services to individual and corporate customers in the country. Formerly known as Parex Bankas AB, the bank adopted its current name in 2010. Based in Vilnius, it manages six branches and three customer service units across the country.
Net income: EUR 3.92 million (2018)
Total assets: EUR 491.77 million (2018)
UAB Medicinos Banka
Incorporated in 1992, UAB Medicinos Banka caters to individual and business customers in Lithuania, with a special focus on micro-, and small- and medium-sized enterprises. Headquartered in Vilnius, the bank oversees a network of seven branches, six exchange offices, and 41 customer service divisions and subdivisions across the country.
Net income: EUR 3.84 million (2020)
Total assets: EUR 388.4 million (2020)
Careers in Investment Banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map: For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been a guide to the top banks in Lithuania. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: