Lithuania’s specialised banks continued to grow in the first quarter of 2026. According to the Bank of Lithuania, their combined assets reached €2.07 billion at the end of March, up 49.4% from a year earlier. Their loan portfolio grew by 41.6% to €957 million.
Customer deposits, equity, cash reserves and funds held at central banks also rose year on year.
Deposits increased by 52.9% compared with the first quarter of 2025, reaching €1.83 billion. The growing deposit base gives specialised banks more capacity to finance businesses and households.
Greta Ranonytė, CEO of the Lithuanian Fintech Association (LFA), says the figures reflect the growing role of specialised banks in Lithuania’s financial market.
“Specialised banks have grown steadily over the past year. We can see this in their assets, lending volumes and customer deposits. They are now an important part of Lithuania’s fintech ecosystem, and their development reflects the growing maturity of the sector. A larger deposit base allows these banks to provide more financing to businesses and households, increasing their contribution to the country’s economy,” she says.
The banks also strengthened their financial buffers. Funds held at central banks rose by 74.5% year on year, from €470.9 million to €821.8 million. Equity increased by 26.6% to €169 million, while cash reserves almost doubled from around €26 million to nearly €50 million.
All specialised banks remained well above the minimum regulatory liquidity requirement. Their liquidity coverage ratios (LCRs) exceeded 100%, with some reporting ratios of more than 1,000%. These figures indicate that the banks have sufficient liquid assets to meet their short-term obligations.
Ranonytė notes that the banks have maintained strong capital and liquidity positions despite their rapid growth.
“Growth is important, but it must be sustainable. Strong capital and liquidity ratios give specialised banks a firm basis for further development and help build confidence in the financial system as a whole,” she says.
Eight specialised banks currently hold licences in Lithuania: Mano Bankas, SME Bank, GF Bankas, Saldo Bank, European Merchant Bank, Finora Bank, Fjord Bank and RATO Bankas. Together, they employ more than 600 people.
What is a specialised bank?
A specialised bank is a licensed bank that offers a narrower range of services than a traditional commercial bank. It can accept deposits, provide loans and process payments, but cannot offer investment or similar financial services.
The statutory minimum initial capital is €1 million, compared with €5 million for a full-service bank. The lower threshold does not mean lighter supervision. Specialised banks must comply with capital adequacy, anti-money laundering and other banking requirements.
About LFA
The Lithuanian Fintech Association (LFA) brings together around 100 companies and organisations from Lithuania’s fintech sector. It represents its members in discussions with public institutions and regulators, supports cooperation across the sector and promotes Lithuania as a fintech market internationally.
