Company:European Merchant Bank

From HandWiki
EMBank European Merchant Bank
TypePrivate company
IndustryFinancial services
FoundedDecember 14, 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 neo bank 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, Bank’s business loans reached €29.7 billion.[9] That same year EMBank managed to break even.[10][11][12]

In 2022, the bank was involved in a trademark dispute with the mBank and the European Union Intellectual Property Office regarding the bank's name.[13][14]

Features

The bank offers a number of financial products and services:

  • Direct access to banking services for both fintech and SMEs business.[15]
  • The bank offers Banking as a Service (BaaS) and has a single Embedded Finance API to Fintechs. Safeguarding Accounts are another key product that the bank provides to Fintechs.[16][17][18]
  • Lending facilities for SMEs.[19]
  • SEPA payment services, via SEPA Instant Credit Transfers or SCT Inst which lets transfers in euros and SEPA Direct Debits which allows merchants to collect Euro-denominated payments from accounts in SEPA countries and associated territories.[20][21]

Membership and activities

The bank has been a member of Lithuanian Banking Association since establishment, and a member of FinTech Hub LT and Fintech LT associations.[22]

EMBank has also partnered with Mastercard.[23]

The company is a regular participant of specialized conferences and meetings as Money2020 (Amsterdam, Las Vegas), Finovate (London, New York),[24] (Amsterdam) etc.[25]

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" (in en). 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?" (in en-GB). 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" (in en). 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" (in en). 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. ↑ "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance" (in en-US). https://finance.yahoo.com/quote/NTWK/. 
  10. ↑ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio" (in en-US). 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!" (in en-GB). 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" (in en). 12 July 2023. 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. ↑ "News Archives" (in lt-LT). https://flcc.lt/category/news/. 
  16. ↑ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL" (in en-US). 2021-01-25. https://finchannel.com/banking-as-a-service-api-to-revolutionize-fintech/79986/business-2/banks/2021/01/. 
  17. ↑ benwilliams (2021-12-16). "How Does Banking as a Service Work?" (in en-GB). https://aboutmanchester.co.uk/how-does-banking-as-a-service-work/. 
  18. ↑ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?" (in en-GB). https://thebusinesstime.co.uk/why-do-you-need-a-safeguarding-account/. 
  19. ↑ "EMBank launched a loan campaign to support small business owners" (in en-US). https://swedish.lt/members_news/embank-launched-a-loan-campaign-to-ease-the-burden-of-the-pandemic-on-small-business-owners/. 
  20. ↑ "SEPA" (in en-GB). https://em.bank/payments/sepa/. 
  21. ↑ "Banking payments reimagined: upcoming challenges for the European industry" (in En). https://infinite-intelligence.net/directory-articles/banking-payments-reimagined-upcoming-challenges-for-the-european-industry. 
  22. ↑ "Experienced risk management professional E. Preikša appointed as Chief Risk Officer at EMBank | NLCC" (in en-US). https://nlcc.lt/experienced-risk-management-professional-e-preiksa-appointed-as-chief-risk-officer-at-embank/. 
  23. ↑ "European Merchant Bank Offering Banking as a Service API" (in en-US). 2021-01-25. https://finchannel.com/banking-as-a-service-api-to-revolutionize-fintech/. 
  24. ↑ "Money20/20 | Fintech Events and Conferences 2025" (in en). https://www.money2020.com/. 
  25. ↑ Pugh, Alex (2022-10-10). "Sibos 2022: No bank is an island – joining up digital currencies" (in en-GB). https://www.fintechfutures.com/2022/10/sibos-2022-no-bank-is-an-island-joining-up-digital-currencies/. 



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