European Merchant Bank (EMBank) has become a sponsor and the sole banking partner of the prestigious Gazelė 2024 event organised by the most widely read business news portal and newspaper in Lithuania, Verslo Žinios. This project is the best-known and largest small and medium-sized enterprises event in the country, attracting many participants and promoting growth and cooperation in the business community.
Gazelė project is dedicated to small and medium-sized enterprises developing in Lithuania. For 20 years, the project has been organising conferences, seminars, mentoring programmes, and publications related to small business. Gazelė awards are held yearly to reward the most successful and rapidly growing small and medium-sized enterprises.
Sarp Demiray, the CEO of EMBank: “Our goal is to become the main partner of small and medium-sized enterprises in Lithuania, so we must be present where business matters.This is why I find it very meaningful and valuable for us to be part of the Gazele project, which has been ongoing for years.”
According to Mr.Demiray, small and medium-sized enterprises significantly contribute to Lithuania’s economic growth; however, it is often challenging for this sector to obtain the financing it needs. Demiray: “This is exactly where EMBank steps in. Knowing that the needs of every business are not the same, we endeavour to offer tailor-made, fresh, agile, flexible and smart solutions to our customers.”
Small and medium-sized enterprises account for more than 95% of all Lithuanian businesses and generate the most significant contribution to the country’s GDP.
Demiray concludes: “For the country’s economy to grow successfully, increasing access to financing and improving banking services for small and medium-sized enterprises in Lithuania is essential. European Merchant Bank plans to nearly triple its business loan portfolio by the end of 2028 and increase the value of its assets by more than EUR 263 million.We would like to grow together with our clients”
In the first quarter of 2024, EMBank’s revenues grew by 30%, and net profit nearly tripled. In addition, the business loan portfolio in the first quarter of this year grew by more than 40% compared to the same period last year, amounting to EUR 36.5 million. These performance results reflect the bank’s commitment to providing high-quality services and products that meet the needs of modern businesses. The bank continuously invests in new technologies and services to ensure that its clients receive the best financial solutions in the market.
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 (as well with INVEGA guarantee), to small and medium-sized enterprises in Lithuania.
