The Bank of Lithuania published its Banking Activity Review covering 2024, reporting one of the fastest credit portfolio growth rates in the euro area and a change in the ranking of the largest banks by assets, with Revolut Holdings Europe UAB overtaking Swedbank, AB. It also highlighted the need to intensify efforts against financial fraud, strengthen cyber resilience and closely monitor loan quality. Lithuania had 19 banks operating at year-end, including six foreign bank branches. The sector’s loan portfolio increased by EUR 4.2 billion (15.4%) to EUR 31.7 billion, with resident lending rising to EUR 17.0 billion and housing loans reaching EUR 12.7 billion; consumer loans increased to EUR 3.0 billion, although consumer lending to Lithuanian residents grew by around 16%. Corporate loans rose to nearly EUR 13 billion, with the largest increases reported in real estate, electricity and gas-related activities, and manufacturing. The non-performing loan ratio fell to 0.90%, while total deposits rose to EUR 61.3 billion, including EUR 20.6 billion in non-resident deposits; excluding non-resident deposits, deposits increased by almost EUR 3.3 billion (8.8%). Average interest rates on new term deposits declined from 3.5% to 2.7%, and unaudited sector net profit was around EUR 1 billion with return on equity falling to 20.19%; the solidarity contribution for 2024 was estimated at about EUR 230 million. Capital adequacy improved to 21.39%, while banks recorded 45 major payment-related incidents, down 34% year on year, and remained targets of cyberattacks. Quarterly bank-level information on key performance indicators and compliance with prudential requirements is published on the Bank of Lithuania’s website.

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