In 2024, Finora Bank ranked among the fastest-growing banks in Lithuania, based on publicly available data. The bank’s business loan portfolio grew several times faster than the market average, while its market share increased. In Lithuania, Finora Bank’s loan portfolio expanded by 52%. Meanwhile, according to data from the Bank of Lithuania the overall business loan market grew by 13.3%.
Šarūnas Ruzgys, CEO of Finora Bank says: “Although we remain one of the smaller players in terms of total loan portfolio size, 2024 was a year of significant progress for us. We focused on strategic growth: investing in our team, raising over EUR 8 million in capital, and initiating the upgrade of our banking systems. These steps enabled us not only to substantially expand our financing capabilities but also to prepare for the next stage of growth. We have become more visible in the market, with growing interest both from business clients and seasoned financial professionals eager to join our team”.
Finora Bank’s Growth in Lithuania Was Five Times Higher Than the Market Average
Based on data from the Bank of Lithuania and banks’ published reports, the business loan market in Lithuania grew by 13.3% in 2024, while Finora Bank recorded 52% growth—one of one of the strongest results among banks operating in the country. The analysis covered 9 of the 13 banks active in Lithuania, focusing on those that reported business loan figures. Over the year, Finora Bank increased its market share by 4 basis points.
Mangirdas Kireilis, Head of Sales at Finora Bank adds: “Businesses are not necessarily looking for bigger banks, they are looking for better partners. Our growth has been driven by our ability to respond faster, offer more flexible solutions, and truly understand business needs. Our partnerships with Ilte in Lithuania and EIS in Estonia also played a key role by improving access to financing.”
Finora Bank is a bank operating in Lithuania and Estonia, focused on financing business clients. In 2025, the bank plans to continue expanding its operations and strengthening its position in both markets, ensuring steady growth and greater accessibility of essential services for business customers.