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Lithuanian Bank Lending Shrinks for Third Year on Retail Demand

Jan. 25 (Bloomberg) -- 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

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