Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Japan, Brazil, United Kingdom
The Banking market in Lithuania has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Lithuania are increasingly shifting towards digital banking solutions, preferring the convenience and accessibility offered by online and mobile banking services. This trend is in line with global preferences, where customers are seeking seamless and efficient banking experiences.
Trends in the market: One notable trend in the Lithuanian banking market is the rise of fintech companies offering innovative financial solutions. These fintech firms are challenging traditional banks by providing alternative payment methods, peer-to-peer lending platforms, and other digital services. This trend is reshaping the competitive landscape of the banking sector in Lithuania.
Local special circumstances: Lithuania's strategic location as a gateway between East and West has attracted a growing number of foreign banks to establish their presence in the country. This influx of international banks has not only increased competition but has also brought in expertise and best practices from other markets. Additionally, Lithuania's membership in the European Union has facilitated cross-border banking activities and regulatory harmonization.
Underlying macroeconomic factors: The overall economic stability and growth in Lithuania have positively impacted the banking sector. As the economy expands, there is an increased demand for banking services such as loans, mortgages, and investment products. Furthermore, favorable government policies and regulatory frameworks have created a conducive environment for the banking industry to thrive.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.Additional Notes:
The market is updated twice per year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)