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HomeLithuaniaPoland's Pekao mulls setting up branch in Lithuania, c. banker confirms

Poland’s Pekao mulls setting up branch in Lithuania, c. banker confirms

Gediminas Simkus, the central bank’s governor, has confirmed a report by BNS that Pekao, one of Poland’s largest banks, is considering opening a branch in Lithuania.

“In the second half of December, Pekao Bank’s management visited Lithuania, which I think is a very serious signal about their intentions,” Simkus said in an interview with the 15min online news site.

“As the Baltic region, I think we are an attractive area for a new service player to come in. I am optimistic that we will see a new market entrant in Lithuania. There are very clear signals that this will happen. But again, when exactly also depends a lot on the institution strategizing its entry,” the chairman of the Bank of Lithuania’s board said.

“Given that sometimes I see how these decisions that were supposed to be made are delayed, I’d say that I am optimistic and we will see this year,” he added when asked whether the Polish bank could establish its presence in Lithuania this year.

BNS reported last November, citing four sources, that Pekao was considering setting up a branch in Lithuania and serving only business clients.

The bank has not made its plans public, but has confirmed its intention to cooperate more actively with Lithuanian companies.

The bank would have to obtain the central bank’s permission to establish a branch in Lithuania.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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