Finora Bank, bank dedicated for businesses, is reinforcing its position in the Baltic region with the addition of two experienced banking professionals, Mangirdas Kireilis and Šarūnas Gerasimavičius, to its board. Their appointments have been approved by the Bank of Lithuania (LB).
Mangirdas Kireilis, who has been leading Finora Bank’s sales operations across the Baltics and is currently the head of the Estonian branch, has now also been appointed to the board. With extensive experience working with business clients in major Scandinavian banks, he brings valuable expertise in business financing.
“The bank’s focus is on growth. We aim for Finora Bank to become the first choice for businesses looking for a flexible and reliable financing partner. Access to financing remains a challenge, especially for smaller businesses, where owners often manage multiple business processes themselves. Our mission is to improve access to financing by providing clear and fast financial solutions,” says Mangirdas Kireilis.
Šarūnas Gerasimavičius, who\s responsible for operations, products, and IT, has also joined the board. With over 15 years of experience in the financial sector, he specializes in banking and financial product development as well as IT implementation. At Finora Bank, he is responsible for the development of IT systems, product offerings, and operational management.
“I want to contribute my experience to ensure that the bank’s operations run as smoothly and efficiently as possible. To enhance the customer experience, streamline processes, and increase efficiency, we are investing in the implementation of a new banking system, followed by the expansion of our product portfolio,” states Šarūnas Gerasimavičius.
Finora Bank’s Chief Administrative Officer, Šarūnas Ruzgys, emphasizes that a strong leadership team is a key factor in successfully executing the bank’s strategy and ensuring sustainable growth.
“2024 was a year of significant developments. We secured €8 million in investments, saw a substantial increase in our loan portfolio, and expanded the bank’s total assets. Until now, we have focused on building a clear strategy. With a strong leadership team in place, we are now ready to accelerate our expansion in the Baltics,” says Šarūnas Ruzgys.
The Finora Bank board consists of Chairman of the Board Šarūnas Ruzgys and members: Mangirdas Kireilis, Šarūnas Gerasimavičius, and Kristi Hõrrak.
The bank continues to invest in IT, operational improvements, and risk management processes to meet the highest industry and regulatory standards, ensuring flexibility and an even better experience for its clients. In 2024, the bank’s revenue increased by nearly 14 %, the business loan portfolio grew by more than 39 %, and total bank assets increased by 61 %.