Lithuanian courts have ruled that a Bank of Lithuania rule forbidding the granting of credit to people who must spend more than 40% of their income to cover their debts is unconstitutional. The courts’ ruling […]
The International Monetary Fund (IMF) has said Lithuania needs to carry out structural reforms to its credit unions sector. Lithuania‘s central bank said the IMF in its latest report on Lithuania said that the country’s […]
Part of the credit unions operating in Lithuania are opposing a new law aimed at solidifying the market. The Ministry of Finance drafted the law in response to a series of bankruptcies three years ago […]
The Lithuanian parliament is to consider a bill allowing mergers of credit unions. The Bank of Lithuania says the measure would improve the credit unions’ viability and introduce new players in the country’s financial market. […]
Assets of 63 credit unions that are members of the Lithuanian Central Credit Union (LCKU) amounted to LTL 1.37 billion (EUR 397 million) by the end of the first half of 2014. The figure is 6.4 percent bigger compared with the first half of 2013 when it stood at LTL 1.29 billion (EUR 373 million). […]
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