The first specialized bank Mano bankas soon to operate in Lithuania.
Ellex Valiunas, Lex Mundi member firm for Lithuania, successfully advised Mano bankas in obtaining the first- of-its-kind specialized bank license in Lithuania which yielded great significance for Lithuania’s financial system. Without any doubt, this is another step turning Lithuania into one of the most attractive jurisdictions for banks and finance institutions in the European Union and European Economic Area (EU/EE).
The firm advised the client on all issues related to obtaining the license, drafted license application documents and represented the union before the Bank of Lithuania. The team was led by Partner and Head of the Finance Practice Group Gediminas Rečiūnas and Associate partner Aušra Brazauskienė.
"We would like to thank the team for their contribution to the result we have achieved. These lawyers cared about our success more than we could expect, and their demonstrated skills of managing complex projects and deep knowledge of banking regulation ensured an effective licensing process," Vytautas Olšauskas, Chairman of the Board stated.