President of the Republic of Lithuania

Stability in the banking sector is vital for economic growth in Lithuania

2010-05-19

Wednesday, May 19, Vilnius - President of the Republic of Lithuania Dalia Grybauskaitė received President and CEO of the Swedbank Group, Michael Wolf, who is currently on a visit to Lithuania.

Discussion in the meeting focused on the Swedbank's role in the Lithuanian financial market, the overall situation in the financial market and the banking sector of the country, and the outlook for Lithuania's capital market.

The President underlined that Lithuania's economic growth relied on stability and responsible behavior of the banking sector and on its capability to supply the economy with adequate credit resources.

The President said she appreciated the Swedbank's efforts to respond flexibly to students' needs and finance their studies as well as the Bank's cooperation with the Junior Achievement Lithuania initiative launched to promote entrepreneurship among young people of Lithuania.

Michael Wolf said Lithuania's economy and the financial sector managed to cope with one of the most difficult challenges in history and today had good opportunities to enhance their competitiveness. The Swedbank's CEO assured the President that the Bank would continue its business in Lithuania and would further demonstrate responsibility in its dealings with private and business customers so as to assist them in finding the best solutions to undo the damage caused by the crisis.

Press Service of the President

Last updated 2010.05.19 11:24

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