“We started operations in Lithuania in 2019, and it is great to see that we are growing year by year. We ended the third quarter of this year with a record loan portfolio of EUR 29.7 million. Compared to the second quarter of 2021, the portfolio increased by 48%. EMBank is targeting an increase in the bank’s loan portfolio to around EUR 37 million by the end of 2021.
We are glad that besides local SMEs, European fintech companies also see us as partners as well. More and more a new generation of financial companies are using our custom banking services,” says Sarp Demiray, the CEO of EMBank.
EMBank provides working capital and investment loans in Lithuania but soon plans to expand its range of services by offering leasing and other payment services. Also, the bank deals with the most innovative fintech products, including Banking-as-a-Service and embedded finance solutions. Ekmel Cilingir, Chairman of the Board at the European Merchant Bank said “We believe that to grow even faster, we need to strengthen the EMBank brand name locally and internationally, and talk more broadly about financing opportunities for small and medium-sized businesses in Lithuania and custom banking services for fintechs. We hope that the cooperation with Brandnomika will help us achieve these goals”.
“The partnership with EMBank is great recognition for us. We believe that our experience will contribute to the bank’s even greater success, benefiting small and medium-sized businesses. We see that businesses in Lithuania have a hard time accessing sources of finance. The increased competition among financiers in the market should solve this problem. Also, we look forward to telling the fintech community about the banking services that EMBank is developing for them,” says Robertas Šapalas, CEO of Brandnomika.
Brandnomika is a communications agency founded by communication and marketing expert Robertas Šapalas and economist Aleksandras Izgorodinas. The company provides executive, analytical, and internal and external communication services. Brandnomika’s expertise includes working with fintech, start-ups, industrial and consulting companies.