On his visit to Austria, Vice-Minister of Finance J. Kizenevič invited the country's banks to expand their operations in Lithuania
On his visit to Austria, Vice-Minister of Finance Januš Kizenevič, met with the Minister of Finance of this country Markus Marterbauer. At the meeting, the main focus was on cooperation between the two countries in the financial markets sector. During the visit to Austria, the Vice-Minister also met with representatives of financial institutions and discussed their development opportunities in Lithuania and the region.
“The banking sector in Lithuania is stable and highly profitable, and the demand for credit is high. Our policy priority is to attract new players to the banking sector, increase competitiveness and thus ensure the best conditions for the end user”, Vice-Minister J. Kizenevič stated.
According to the Vice-Minister, the financial services sector could be another area for closer cooperation between the two countries. Our country has a large number of qualified IT specialists, and Austrian banks could take advantage of this and establish their service centres in Lithuania.
The economic ties between Austria and Lithuania is another reason why banks from this country could expand into Lithuania. In recent years, bilateral trade between the countries has been growing steadily, and in the first half of 2025, both imports and exports increased by more than 10%, while Austrian imports of services to Lithuania have increased by more than 12% in recent years.
As the number of Austrian companies in Lithuania increases, so does the demand for financial services tailored to their needs. Austrian financial service providers can take advantage of this trend by offering specialized financial products and services. The presence of Austrian banks in Lithuania would further strengthen the mutual economic partnership.
During the meeting with the Minister of Finance of Austria, a new initiative of the European Union, introduced this year – the Savings and Investment Union (SIU), was also discussed, the aim of which is to combine savings and investment needs, providing more choice for private capital holders, and for companies – to more easily attract investments and carry out development.
According to the Vice-Minister, the Savings and Investment Union must play an important role in ensuring the efficient flow of private funds and be an important pillar of the defence financing strategy. Attracting private capital is necessary in order to strengthen the EU’s defence industrial base and promote innovation.
Last updated: 10-10-2025
Related news:
S&P Global Ratings confirmed Lithuania’s credit rating
Defence bonds were distributed for EUR 80.5 million across recent issues