Elijus Civilis, general manager of Invest Lithuania, the government’s foreign investment promotion agency, confirmed on Friday that Deutsche Bank, Germany’s largest lender, is considering opening a service center in Lithuania.
“They are evaluating various options, likely starting with a service center,” he told BNS in an interview.
The German bank’s representatives were disappointed by last November’s media reports about its plans in Lithuania, according to the official.
“For us, Deutsche Bank is one of the clients, but they are very sensitive to all matters because of their size and impact, and the sensitivity of their sector,” he said. “They have visited Lithuania.”
Civilis confirmed that talks with Deutsche Bank are ongoing, but he could not say when the bank might make a final decision.
The agency’s head did not directly link Deutsche Bank’s plans to the planned deployment of a German brigade in Lithuania, but he acknowledged that military cooperation between the two countries gives a boost to business relations.
“Take Poland as an example. After they decided to base all their armaments on South Korean manufacturers, naturally South Korea has become one of their biggest investors in the last two years,” Civilis said.
“This creates an interstate relationship that naturally brings countries closer together,” he added.
BNS reported in November, citing sources, that Deutsche Bank was considering opening a service center.
According to the sources, the bank’s representatives visited Vilnius in mid-October and met with officials from the president’s office, the Economy and Innovation Ministry and Invest Lithuania.
The Germans briefed the Lithuanian officials on the investment potential of such a center and also looked for a suitable office.
According to the sources, Lithuania is one of two or three possible locations for such a service center.
Deutsche Bank would not comment on its plans.
Deutsche Bank operates in 58 countries worldwide and its strategy for the future is to focus on its position as a “global home bank” and to serve even more customers in all financial matters.
The German bank’s technology center has been operating in Romania since 2013.
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