"The business plans have been abandoned in light of the economic situation and in order to work more efficiently," the bank's public relations officer Auksė Armonaitė told BNS.
She said that the Edinburgh branch had a staff of 4 people.
Ūkio Bankas opened its Edinburgh branch in 2007. The bank's officials told BNS earlier that the unit was working with existing and potential customers and providing certain services.
Romanov-controlled Ūkio Banko Investicinė Grupė (Ūkio Bankas Investment Group, or UBIG) owns the Hearts football club Edinburgh. According to media reports, Romanov purchased former Royal Bank of Scotland offices in the city's financial quarter.
Romanov held a 53.1 percent stake in Ūkio Bankas at the end of last year. The Kaunas-based bank's shares are quoted on the blue-chip Main List of the NASDAQ OMX Vilnius stock exchange.
