“TF Bank became the 19th bank or branch of a foreign bank operating in Lithuania, until then it provided services in the country without establishing itself, the Bank of Lithuania (LB) reported on Thursday.
“TF Bank’s decision to establish a branch shows that Lithuania is a profitable market where banks can successfully operate and expand,” Lukas Jakubonis, head of the central bank’s financial market development, said in a statement.
“TF Bank” is classified as a European Union (EU) or European Economic Area (EEA) bank that can provide services without being established in Lithuania.
According to the Register Center, the branch of the Bank of Sweden, whose headquarters is located in the city of Buros, was registered in Lithuania on September 12. It is managed by Dalia Kubiliūtė, according to “Sodra” data, it has 23 employees.
The bank’s website states that TF Bank is an online loan bank that provides banking and e-commerce solutions to consumers. In Lithuania, the bank provides consumer and refinancing services.
In addition to Sweden and Lithuania, TF Bank also operates in Finland, Norway, Denmark, Estonia, Latvia, Poland, Germany, Austria, Spain, Ireland and the Netherlands through subsidiaries, branches or cross-border banking with a Swedish bank license.
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2024-10-04 00:49:00
