AB Mano Bankas starts activity as the first specialised bank in Lithuania

On 2 January 2019 AB Mano Bankas started its operations as a specialised bank following issuance of its banking license by ECB on 8 October 2018.

WALLESS attorneys Aušra Brazauskienė and Gediminas Rečiūnas advised and assisted AB Mano Bankas on its conversion from a credit union into the first specialised bank in Lithuania. Their role spanned from obtaining the banking licence from ECB to reorganization of cooperative society to a public company.

The issuance of a specialised bank licence to AB Mano Bankas is the first of its kind in Lithuania and had a great significance for Lithuania’s financial system. Without any doubt, this is a proof Lithuania’s intention to become one of the most attractive jurisdictions for new generation banks and finance institutions in the European Union actually works.