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Ellex Valiunas Assists in Establishing a New Bank in Lithuania

Ellex Valiunas Assists in Establishing a New Bank in Lithuania

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Ellex Valiunas has assisted Mano Unija, the largest credit union in Lithuania, on its successful application to the Bank of Lithuania for authorization to begin its transformation into a public company holding a bank license.

According to Ellex Valiunas, "this is the end of the first stage of the preparation for banking activity. The next stage is application to the Bank of Lithuania for a bank license." The firm reports that Mano Unija is, at present, "the only credit union in Lithuania holding the authorization of the Bank of Lithuania to carry out transformation into a bank."

The Ellex Valiunas team consisted of Partner Gedminas Reciunas, Senior Associate Ausra Brazauskiene, and Associate Arminas Banys.

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