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European Merchant Bank

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From Wikipedia, the free encyclopedia
EMBank European Merchant Bank
TypePrivate company
IndustryFinancial services
Founded14 December 2018; 7 years ago (2018-12-14) in Vilnius
Headquarters
Vilnius
,
Lithuania
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 Lithuanian digital neobank established in 2018.[1] The bank focuses on small and medium-sized enterprises (SMEs) in the fintech space.[2][3][4]

History

[edit]

EMBank was founded in 2018 in Lithuania. On 14 December 2018, "the bank received a banking license from the European Central Bank."[5][6][7][8]

By the end of 2021, the institution's business loans reached €29.7 million.[9] That same year, EMBank managed to break even.[10][11][12]

In 2022, the institution faced a trademark dispute with mBank and the European Union Intellectual Property Office regarding its name.[13][14] In April 2026, the Bank of Lithuania fined EMBank €270,000 for anti-money laundering, counter-terrorist financing and sanctions-control shortcomings, and temporarily barred the bank from accepting new higher-risk clients or servicing existing ones from higher-risk third countries.[15][16][17]

Features

[edit]

The bank offers a number of financial products and services:

  • "Direct access to banking services for both fintech and SMEs business."[18]
  • The institution provides "banking as a service (BaaS)" and maintains "a single Embedded Finance API to Fintechs."[19][20][21][22]
  • Lending facilities for SMEs.[23]
  • SEPA payment services.[24][25]

Membership and activities

[edit]

The bank maintains membership in the Lithuanian Banking Association since its establishment and participates in FinTech Hub LT and Fintech LT associations.[26]

EMBank collaborates with Mastercard.[27]

The organization participates regularly in specialized conferences including "Money2020" and "Finovate."[28]

See also

[edit]

References

[edit]
  1. ↑ ""EMBank" grynasis pelnas pernai trigubėjo - Verslo žinios". vz.lt (in Lithuanian). Retrieved 2025-02-20.
  2. ↑ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-09-01.
  3. ↑ "Former Swedbank Head of Risk for the Baltic States to take the position of Head of Risk at European Merchant Bank". en.15min.lt. Retrieved 2025-02-20.
  4. ↑ ""European Merchant Bank" su valstybės garantija verslui skolins per 6 mln. eurų". lrt.lt (in Lithuanian). 2024-05-20. Retrieved 2025-02-20.
  5. ↑ Content, Sponsored (2022-01-14). "Why do we need banking as a service?". London Business News. Retrieved 2023-09-01.
  6. ↑ "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.
  7. ↑ "European Merchant UAB granted a specialised bank licence". lb.lt. 2018-12-17. Retrieved 2023-09-01.
  8. ↑ "European Merchant Bank prepares for launch in Lithuania". Delfi EN (in Lithuanian). Retrieved 2023-09-01.
  9. ↑ 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.
  10. ↑ "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.
  11. ↑ 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.
  12. ↑ ""EMBank" rezultatai: paskolų portfelis augo 27,7 mln. eurų, banko pajamos – trylika kartų". klaipeda.diena.lt (in Lithuanian). Retrieved 2025-02-20.
  13. ↑ "ECLI:EU:T:2023:396 — JUDGMENT OF THE GENERAL COURT". curia.europa.eu. 2023-07-12. Retrieved 28 January 2025.
  14. ↑ ""European Merchant Bank" šiemet patyrė 654 tūkst. eurų nuostolių". 15min.lt/verslas (in Lithuanian). Retrieved 2025-02-20.
  15. ↑ "Enforcement measures imposed on European Merchant Bank UAB". lb.lt. Bank of Lithuania. 2026-04-23. Retrieved 2026-07-22.
  16. ↑ ""European Merchant Bank" – 270 tūkst. eurų bauda ir apribota veikla". lrt.lt (in Lithuanian). 2026-04-23. Retrieved 2026-07-22.
  17. ↑ "Bank of Lithuania Fines European Merchant Bank UAB €270,000 for AML/CTF Shortcomings". acams.org. ACAMS. Retrieved 2026-07-22.
  18. ↑ "News Archives". FLCC (in Lithuanian). Retrieved 2023-09-01.
  19. ↑ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL". 2021-01-25. Retrieved 2023-09-01.
  20. ↑ Ben, Williams (2021-12-16). "How Does Banking as a Service Work?". About Manchester. Retrieved 2023-09-01.
  21. ↑ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?". Retrieved 2023-09-01.
  22. ↑ "Crypto on-ramp and off-ramp for business". Apple. Retrieved 2026-07-22.
  23. ↑ "EMBank launched a loan campaign to support small business owners". Swedish Chamber of Commerce in Lithuania. Retrieved 2023-09-01.
  24. ↑ "SEPA". European Merchant Bank UAB. Retrieved 2023-09-01.
  25. ↑ "Banking payments reimagined: upcoming challenges for the European industry". Infinite Intelligence. Retrieved 2023-09-01.
  26. ↑ "Experienced risk management professional E. Preikša appointed as Chief Risk Officer at EMBank | NLCC". Retrieved 2025-02-20.
  27. ↑ "European Merchant Bank Offering Banking as a Service API". FINCHANNEL. 2021-01-25. Retrieved 2025-02-20.
  28. ↑ Pugh, Alex (2022-10-10). "Sibos 2022: No bank is an island – joining up digital currencies". www.fintechfutures.com. Retrieved 2025-02-20.
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