The MP said the proposal should be included in the LSDP’s electoral programme.
“We need to endorse that both in the programme and in Lithuania, if we are to be entrusted by the citizens with the mandate to contribute to the governance of the state of Lithuania, and if we are to form a new government after the elections to the Seimas. Our goal must be to implement what is discussed in the programme, which is the establishment of a state bank,” Budbergytė told the LSDP Council on Saturday.
According to the MP, competition is impossible in the banking sector now, despite that Lithuania has 18 banks.
“There are several big players and the bank from Poland is not coming as promised. We are waiting for it, but it will still not come as the ongoing war in Ukraine creates additional risks,” the politician said.
Budbergytė underlined that the banks are raising fees and reducing the availability of their services, whereas a state bank could enable better access to businesses.
There are 18 banks operating in Lithuania., including five branches of foreign banks. Swedbank, SEB and Luminor hold the biggest market shares in the country.