Acting upon the request of Mano Unija, the largest credit union in Lithuania, the Bank of Lithuania has issued authorization for it to start transforming into a public company with a bank license. Ellex Valiunas is advising Mano Unija on the process.
According to Ellex, "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. Presently Mano Unija is the only credit union in Lithuania holding the authorization of the Bank of Lithuania to carry out transformation into a bank."