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European Merchant Bank

From Wikipedia, the free encyclopedia
EMBank European Merchant Bank
Company typePrivate company
IndustryFinancial services
FoundedDecember 14, 2018; 5 years ago (2018-12-14) in Vilnius
Headquarters,
Key people
Sarp Demiray (CEO)
Ekmel Cilingir (Chairman of Supervisory Board)
ProductsCommercial banking, fintech
Websiteem.bank

The European Merchant Bank (trading as EMBank) is a small Lithuanian digital neo bank established in 2018. The bank focuses on Small and medium-sized enterprises (SMEs) in the fintech space.[1]

History

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EMBank was founded in 2018 in Lithuania. On 14 December 2018, the bank received a banking license from the European Central Bank.[2][3][4][5]

By the end of 2021, Bank’s business loans reached €29.7 billion.[6] That same year EMBank managed to break even.[7][8]

In 2022, the bank was involved in a copyright dispute with the European Union about the use of the bank name. The bank is not part of the European Union, as it is a commercial bank based in Lithuania.[9]

Features

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The bank offers a number of financial products and services:

References

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  1. ^ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-09-01.
  2. ^ Content, Sponsored (2022-01-14). "Why do we need banking as a service?". London Business News | Londonlovesbusiness.com. Retrieved 2023-09-01.
  3. ^ "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio". en.15min.lt. Retrieved 2023-09-01.
  4. ^ "European Merchant UAB granted a specialised bank licence". lb.lt. 2018-12-17. Retrieved 2023-09-01.
  5. ^ "European Merchant Bank prepares for launch in Lithuania". Delfi EN (in Lithuanian). Retrieved 2023-09-01.
  6. ^ "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 2023-09-01.
  7. ^ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio". EIN News. 2022-05-11. Retrieved 2023-09-01.
  8. ^ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!". European Merchant Bank UAB. Retrieved 2023-09-01.
  9. ^ "Action brought on 12 May 2022 — Mostovdrev v Council". eur-lex.europa.eu. 2022-07-04. Retrieved September 1, 2023.
  10. ^ "News Archives". FLCC (in Lithuanian). Retrieved 2023-09-01.
  11. ^ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL". 2021-01-25. Retrieved 2023-09-01.
  12. ^ benwilliams (2021-12-16). "How Does Banking as a Service Work?". About Manchester. Retrieved 2023-09-01.
  13. ^ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?". Retrieved 2023-09-01.
  14. ^ "EMBank launched a loan campaign to support small business owners". SCCL. Retrieved 2023-09-01.
  15. ^ "SEPA". European Merchant Bank UAB. Retrieved 2023-09-01.
  16. ^ "Banking payments reimagined: upcoming challenges for the European industry". Infinite Intelligence. Retrieved 2023-09-01.
  17. ^ Navakas, Naglis. ""European Merchant Bank" pajamos augo 13 kartų". vz.lt (in Lithuanian). Retrieved 2023-09-01.