European Merchant Bank (EMBank) has joined the community of the Lithuanian Business Confederation LVK (LBC), one of the largest organizations in Lithuania dedicated to uniting businesses, and has become its member.
“We are proud to join such an association, which adheres to modern and responsible business standards. We see our membership in the LVK as a great mark of recognition and an opportunity to contribute to the growth of small and medium business in Lithuania. Our bank can offer SMEs a wide range of financing options, payment facilities and valuable insights” said Sarp Demiray, CEO of EMBank.
The head of LVK Andrius Romanovskis congratulated EMBank on joining and emphasized that the membership of representatives of the financial sector is very important for the members of the confederation, especially in this uncertain economic period.
“We see that access to finance for business in Lithuania remains limited and that business is in dire need of investment in order to stimulate economic recovery. Therefore, we are delighted that EMBank, a financial market player specialising in financing small and medium-sized businesses, has joined the Lithuanian Business Confederation,” says A. Romanovskis.
The LVK is a very important and broad-based organisation, representing 36 business associations and 3,500 companies, which account for about a quarter of Lithuania’s gross domestic product (GDP). According to the confederation, they have created 200,000 jobs, about 15% of the total of 1.3 million in the EU. The confederation represents 15% of the Lithuanian labour force. LVK represents a modern and responsible type of business model and strives to create the best conditions for value creation in Lithuania. The main business sectors of its members include high technology, science and education, law, finance and logistics.
EMBank is licensed by the European Central Bank (ECB) and is a member of SEPA, SWIFT and TARGET2. The bank provides working capital and investment loans, especially to small and medium-sized enterprises. The bank also offers Banking as a Service (BaaS) solutions.
