Revolut: Granted full banking licence in Lithuania
- Revolut Technologies UAB has been changed to a banking licence by the European Central Bank
- These services are currently provided by Payments UAB, an electronic money institution of group licensed in Lithuania
- The permission to reorganise it by way of merger with Bank UAB was granted by the Bank of Lithuania
- Bank UAB has received resident deposits of €395 million and provided almost €12 million in loans to residents
- In recent years, Payments UAB has carried out payment transactions for €100 billion, received nearly €170 million in operating income
- According to this indicator it occupies more than 50% of electronic money and payment institutions market in Lithuania
