One of the largest banks in Germany, Commerzbank, will open its representative office in Lithuania in December, reports ru.delfi.lt. Delfi Bizness found out why the choice fell on our neighbors and whether the bank plans to offer its services in Latvia. It has been said for many years that banking in the Baltic region is concentrated in the hands of several credit institutions and that new players are needed. But the market is small and not very attractive for large international players. Therefore, the news about the arrival of new banks, even if by opening a representative office, can only be welcomed. As Adviser to the President of Lithuania Vaidas Augustinavičius stated, the appearance of a new market participant in the country will increase competitiveness and improve conditions in the financial sector.
