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However, Dubnikov named Medicinos Bankas, which is currently the only bank to be sold, among possible banks that could be acquired.
“By the way the action goes, this carriage is built in front of the horse. In the first place, it is necessary to answer the question of what type of bank the State needs to be able to carry out functions that it has not been able to carry out until now. There has been no such response yet. We heard from Seimas that we need a retail bank, from R. Sinkevičius we heard that we need a bank to distribute loans, we heard from the President that we need a bank to help businesses. In this place, it is necessary to agree which bank is needed and to what extent, ”M. Dubnikov told Eltai.
“Starting a business always starts with a business plan, not starting and considering what to do with that business. It would be even worse if the state bought the bank and considered what it needs and if it is necessary. The discussion should start under normal conditions, “said the analyst.
Dubnikov said that if the state needed a commercial bank, there was an option that could be considered for the acquisition.
“The sale of the only bank in Lithuania has been publicly announced: Medicinos bankas is on the counter. It could be a target, but let’s go back to the same question: does the state need such a bank and will it perform a function that so far has not fact? I think it would still be possible to intervene in the Medicinos Bankas negotiations, since the transaction has not yet been carried out. There are no other banks, at least in the publicly available information on possible sales.
There is still Šiaulių bankas, one of which may have a new shareholder, because it was said, it has been waiting 10 years in the financial market, when the European Bank for Reconstruction and Development is still waiting to leave Šiaulių bankas. Investors are predicting this, but it should be understood that it will no longer be a purchase the size of Medicinos Bankas. It is scary if we could talk about a bigger entity and it would be done in a very difficult period, before these elections, “M. Dubnikov commented to Eltai.
He said he was missing a professional discussion about what kind of bank the state would like.
“If no agreement is reached before the elections, the new government will consider the agreement. It seems quite strange in that debate. So far, the discussion is not professional, the air is vibrating and it does not benefit us. Buying a bank is a process long-term you need to be prepared for. I highly doubt that it is physically possible to make a purchase normally before the October elections. We still do not have the answer we need. It is more like another electoral slogan or imitation of the activity to collect the votes of a certain electorate, ”said the analyst.
Marius dubnikovas
Meanwhile, the Bank of Lithuania takes the position that discussions on the state-owned bank should start with a cost-benefit analysis.
We believe that the discussion on state participation in the capital of credit institutions should first begin with a detailed cost-benefit analysis, taking into account the size of planned public investment and how this investment would change the shareholding structure of credit institutions. credit. The establishment of a new credit institution could contribute to increased competition in the sector, but the costs of maintaining a state-owned bank would probably be high and the associated risks, as the experience of Lithuania and foreign countries shows, are significant ”, said the Bank of Lithuania.
Through its resolution, the Seimas has obliged the Government to initiate consultations with the European Directorate of Support for Structural Reforms of the European Commission on technical assistance for the establishment of the State Development Bank and to consider the possibility of State participation in the capital of credit institutions.
According to the project developers, a State Development Bank could be established on the basis of agencies operating in Lithuania and providing guarantees, which could obtain a banking license and be supervised by the Bank of Lithuania.
The conclusions on the request for technical assistance to the European Commission for the establishment of the State Development Bank are expected to be presented to the government in late August, said Ligija Kliunkienė, chief specialist of the Public Relations Division of the Ministry of Economy and Innovation.
Currently, a 100 percent contract for the Medicinos bank has been concluded. sale of shares. It was announced that they were acquired by Nitin Shelke, a businessman from the United Arab Emirates who runs the Growmore Group, an investment and financial services group. The transaction has not yet been approved by the Bank of Lithuania.
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