European Merchant Bank

Last updated
EMBank European Merchant Bank
Company type Private company
Industry Financial services
FoundedDecember 14, 2018;6 years ago (2018-12-14) in Vilnius
Headquarters
Vilnius
,
Lithuania
Key people
Sarp Demiray (CEO)
Ekmel Cilingir (Chairman of Supervisory Board)
Products Commercial banking, fintech
Website em.bank

The European Merchant Bank (trading as EMBank) is a small Lithuanian digital neo bank established in 2018. The bank focuses on Small and medium-sized enterprises (SMEs) in the fintech space. [1]

Contents

History

EMBank was founded in 2018 in Lithuania. On 14 December 2018, the bank received a banking license from the European Central Bank. [2] [3] [4] [5]

By the end of 2021, Bank’s business loans reached €29.7 billion. [6] That same year EMBank managed to break even. [7] [8]

In 2022, the bank was involved in a copyright dispute with the European Union about the use of the bank name. The bank is not part of the European Union, as it is a commercial bank based in Lithuania. [9]

Features

The bank offers a number of financial products and services:

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References

  1. ↑ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-09-01.
  2. ↑ Content, Sponsored (2022-01-14). "Why do we need banking as a service?". London Business News | Londonlovesbusiness.com. Retrieved 2023-09-01.
  3. ↑ "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio". en.15min.lt. Retrieved 2023-09-01.
  4. ↑ "European Merchant UAB granted a specialised bank licence". lb.lt. 2018-12-17. Retrieved 2023-09-01.
  5. ↑ "European Merchant Bank prepares for launch in Lithuania". Delfi EN (in Lithuanian). Retrieved 2023-09-01.
  6. ↑ "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 2023-09-01.
  7. ↑ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio". EIN News. 2022-05-11. Retrieved 2023-09-01.
  8. ↑ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!". European Merchant Bank UAB. Retrieved 2023-09-01.
  9. ↑ "Action brought on 12 May 2022 — Mostovdrev v Council". eur-lex.europa.eu. 2022-07-04. Retrieved September 1, 2023.
  10. ↑ "News Archives". FLCC (in Lithuanian). Retrieved 2023-09-01.
  11. ↑ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL". 2021-01-25. Retrieved 2023-09-01.
  12. ↑ benwilliams (2021-12-16). "How Does Banking as a Service Work?". About Manchester. Retrieved 2023-09-01.
  13. ↑ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?" . Retrieved 2023-09-01.
  14. ↑ "EMBank launched a loan campaign to support small business owners". SCCL. Retrieved 2023-09-01.
  15. ↑ "SEPA". European Merchant Bank UAB. Retrieved 2023-09-01.
  16. ↑ "Banking payments reimagined: upcoming challenges for the European industry". Infinite Intelligence. Retrieved 2023-09-01.
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