Company:European Merchant Bank

From HandWiki
EMBank European Merchant Bank
TypePrivate company
IndustryFinancial services
Founded14 December 2018; 7 years ago (2018-12-14) in Vilnius
Headquarters
Vilnius
,
Lithuania
Key people
Sarp Demiray (CEO)
Ekmel Cilingir (Chairman of Supervisory Board)
ProductsCommercial banking, fintech
Websiteem.bank

The European Merchant Bank (trading as EMBank) is a Lithuanian digital neobank established in 2018.[1] The bank focuses on small and medium-sized enterprises (SMEs) in the fintech space.[2][3][4]

History

EMBank was founded in 2018 in Lithuania. On 14 December 2018, "the bank received a banking license from the European Central Bank."[5][6][7][8]

By the end of 2021, the institution's business loans reached €29.7 million.[9] That same year, EMBank managed to break even.[10][11][12]

In 2022, the institution faced a trademark dispute with mBank and the European Union Intellectual Property Office regarding its name.[13][14] In April 2026, the Bank of Lithuania fined EMBank €270,000 for anti-money laundering, counter-terrorist financing and sanctions-control shortcomings, and temporarily barred the bank from accepting new higher-risk clients or servicing existing ones from higher-risk third countries.[15][16][17]

Features

The bank offers a number of financial products and services:

  • "Direct access to banking services for both fintech and SMEs business."[18]
  • The institution provides "banking as a service (BaaS)" and maintains "a single Embedded Finance API to Fintechs."[19][20][21][22]
  • Lending facilities for SMEs.[23]
  • SEPA payment services.[24][25]

Membership and activities

The bank maintains membership in the Lithuanian Banking Association since its establishment and participates in FinTech Hub LT and Fintech LT associations.[26]

EMBank collaborates with Mastercard.[27]

The organization participates regularly in specialized conferences including "Money2020" and "Finovate."[28]

See also

  • List of banks in Lithuania

References

  1. ↑ ""EMBank" grynasis pelnas pernai trigubėjo - Verslo žinios" (in lt). https://www.vz.lt/rinkos/2024/05/07/embank-grynasis-pelnas-pernai-trigubejo. 
  2. ↑ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". https://www.cbinsights.com/company/european-merchant-bank. 
  3. ↑ "Former Swedbank Head of Risk for the Baltic States to take the position of Head of Risk at European Merchant Bank". https://www.15min.lt/en/article/tribune/former-swedbank-head-of-risk-for-the-baltic-states-to-take-the-position-of-head-of-risk-at-european-merchant-bank-1240-1583514. 
  4. ↑ ""European Merchant Bank" su valstybės garantija verslui skolins per 6 mln. eurų" (in lt). 2024-05-20. https://www.lrt.lt/naujienos/verslas/4/2277260/european-merchant-bank-su-valstybes-garantija-verslui-skolins-per-6-mln-euru. 
  5. ↑ Content, Sponsored (2022-01-14). "Why do we need banking as a service?". https://londonlovesbusiness.com/why-do-we-need-banking-as-a-service/. 
  6. ↑ "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio". https://www.15min.lt/en/article/tribune/european-merchant-bank-ended-the-third-quarter-of-2021-with-a-48-increase-in-the-total-loan-portfolio-1240-1599560. 
  7. ↑ "European Merchant UAB granted a specialised bank licence". 2018-12-17. https://www.lb.lt/en/news/european-merchant-uab-granted-a-specialised-bank-licence. 
  8. ↑ "European Merchant Bank prepares for launch in Lithuania" (in lt). https://www.delfi.lt/en/business/european-merchant-bank-prepares-for-launch-in-lithuania-82409617. 
  9. ↑ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!". https://em.bank/blog/press-releases/embank-2021-results-13x-revenue-growth-and-eur-27-7-million-growth-in-loan-portfolio/. 
  10. ↑ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio". 2022-05-11. https://www.einnews.com/pr_news/571823282/embank-european-merchant-bank-reports-record-growth-in-2021-13x-revenue-growth-27-7m-growth-in-loan-portfolio. 
  11. ↑ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!". https://em.bank/blog/press-releases/embank-2021-results-13x-revenue-growth-and-eur-27-7-million-growth-in-loan-portfolio/. 
  12. ↑ ""EMBank" rezultatai: paskolų portfelis augo 27,7 mln. eurų, banko pajamos – trylika kartų" (in lt). https://klaipeda.diena.lt/naujienos/verslas/imoniu-pulsas/embank-rezultatai-paskolu-portfelis-augo-277-mln-euru-banko-pajamos-trylika-kartu-1078258#google_vignette. 
  13. ↑ "ECLI:EU:T:2023:396 — JUDGMENT OF THE GENERAL COURT". 2023-07-12. https://curia.europa.eu/juris/document/document.jsf?text=&docid=275371&doclang=EN. 
  14. ↑ ""European Merchant Bank" šiemet patyrė 654 tūkst. eurų nuostolių" (in lt). https://www.15min.lt/verslas/naujiena/finansai/european-merchant-bank-siemet-patyre-654-tukst-euru-nuostoliu-662-1599076. 
  15. ↑ "Enforcement measures imposed on European Merchant Bank UAB". Bank of Lithuania. 2026-04-23. https://www.lb.lt/en/news/enforcement-measures-imposed-on-european-merchant-bank-uab. 
  16. ↑ ""European Merchant Bank" – 270 tūkst. eurų bauda ir apribota veikla" (in lt). 2026-04-23. https://www.lrt.lt/naujienos/verslas/4/2907243/european-merchant-bank-270-tukst-euru-bauda-ir-apribota-veikla. 
  17. ↑ "Bank of Lithuania Fines European Merchant Bank UAB €270,000 for AML/CTF Shortcomings". ACAMS. https://www.acams.org/en/enforcement-action/bank-lithuania-fines-european-merchant-bank-uab-eu270000-amlctf-shortcomings. 
  18. ↑ "News Archives" (in lt-LT). https://flcc.lt/category/news/. 
  19. ↑ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL". 2021-01-25. https://finchannel.com/banking-as-a-service-api-to-revolutionize-fintech/79986/business-2/banks/2021/01/. 
  20. ↑ Ben, Williams (2021-12-16). "How Does Banking as a Service Work?". https://aboutmanchester.co.uk/how-does-banking-as-a-service-work/. 
  21. ↑ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?". https://thebusinesstime.co.uk/why-do-you-need-a-safeguarding-account/. 
  22. ↑ "Crypto on-ramp and off-ramp for business". https://apps.apple.com/app/id1584641245. 
  23. ↑ "EMBank launched a loan campaign to support small business owners". https://swedish.lt/members_news/embank-launched-a-loan-campaign-to-ease-the-burden-of-the-pandemic-on-small-business-owners/. 
  24. ↑ "SEPA". https://em.bank/payments/sepa/. 
  25. ↑ "Banking payments reimagined: upcoming challenges for the European industry". https://infinite-intelligence.net/directory-articles/banking-payments-reimagined-upcoming-challenges-for-the-european-industry. 
  26. ↑ "Experienced risk management professional E. Preikša appointed as Chief Risk Officer at EMBank | NLCC". https://nlcc.lt/experienced-risk-management-professional-e-preiksa-appointed-as-chief-risk-officer-at-embank/. 
  27. ↑ "European Merchant Bank Offering Banking as a Service API". 2021-01-25. https://finchannel.com/banking-as-a-service-api-to-revolutionize-fintech/. 
  28. ↑ Pugh, Alex (2022-10-10). "Sibos 2022: No bank is an island – joining up digital currencies". https://www.fintechfutures.com/2022/10/sibos-2022-no-bank-is-an-island-joining-up-digital-currencies/. 



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