Deutsche Bank mulls opening service centre in Lithuania

By bne IntelliNews November 15, 2023

Deutsche Bank, Germany’s largest commercial bank, is weighing options to open a service centre in Lithuania, several sources from different institutions have confirmed to BNS, a Lithuanian newswire, and LRT.lt, the website of Lithuanian public broadcaster LRT, reported on November 14.

According to these sources, the bank’s representatives visited Vilnius in mid-October, where they met with representatives of the president’s office, the Ministry of Economy and Innovation and the government’s FDI promotion agency Invest Lithuania. The Germans were presented with investment opportunities and looked around for a suitable office.

Deutsche Bank is choosing between two to three countries to host their service centre, according to the sources.

President Gitanas Nauseda met with Deutsche Bank’s managing director for North and East Joerg Bongartz and European Affairs representative Lothar Meenen in Berlin last April to discuss the bank’s potential plans for Lithuania.

Nauseda said that the progress of the Lithuanian IT sector and the market that is not saturated with global business services are encouraging foreign investors to establish and expand IT, services and analytics centres in Lithuania, BNS and LRT.lt said.

Related Articles

Poland’s Orlen signs deal to supply Ukraine with LNG

Ukraine’s Naftogaz will purchase 100mn cubic metres of LNG from Poland’s Orlen, Ukraine’s biggest state-owned energy firm announced on March 7. The LNG will be transported from cargoes ... more

Swedbank Estonia CEO says Lithuania's bank taxes spooked investors' and foreign banks’ interest

Olavi Lepp, CEO of Swedbank’s Estonian branch, stated that Lithuania’s recently imposed temporary bank solidarity levy has dampened interest among new banks and foreign investors in the ... more

Citadele Bank profit in Baltics in H1 plummets 21% y/y to €50.9mn

Citadele, a pan-Baltic bank, reported a 21% decrease in net profit for the first half of 2024, totalling €50.9 million compared to €64.5 million in the same period last year, BNS, a Baltic ... more

Dismiss