Breaking News

Tweet TWEET

Lithuanian Bank Lending Shrinks for Third Year on Retail Demand

Lithuanian banks’ loan portfolios shrank for a third year in 2011 because of waning demand among consumers to borrow, the central bank said.

Credit contracted 0.8 billion litai ($300 million), or 1.4 percent, the Lietuvos Bankas in the capital, Vilnius, said today in an e-mailed statement. Loans shrank 3.2 billion litai in 2012.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.