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Branch rules for banks amended in Lithuania

14.04.2008

On 21 February 2008, the Board of the Bank of Lithuania enacted a resolution “On the subdivisions of branches of banks and foreign banks in the Republic of Lithuania”, which simplifies the procedure for establishment of bank subdivisions.

Upon establishment of a branch office providing financial services, a bank must submit to the Bank of Lithuania transcripts of the registration certificate of the established branch and of the registered branch regulations.
In the case of establishment of another subdivision, including a currency exchange office providing financial services, a branch office of a bank or of a foreign bank must submit to the Bank of Lithuania information on the structural subordination of such subdivision, financial services it provides and its address.
In the event of changes to the submitted information, or if the decision is made to discontinue the activities of a subdivision, a bank or a foreign bank must notify the Bank of Lithuania thereof.

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