EMbank

EMbank (European Merchant Bank UAB) is a Lithuanian bank focused on fintechs and SMEs. The headquarters office is located in Vilnius, Lithuania.[1]

EMbank
Founded2018
FounderOzan Ozerk
Area served
European Economic Area
Websitehttps://em.bank/

History

EMBank was founded by Ozan Ozerk through the establishment process led by Ekmel Cilingir, and received a banking licence from the European Central Bank, facilitated by the Bank of Lithuania on 14 December 2018. The bank started its activity in the fourth quarter of 2018.[2][3][4][5]

By the end of 2021, EMBank's business loan portfolio reached €29.7 million and the bank generated an income of €4.3 million. Total deposits for the bank reached €75.9 million, doubling in volume compared to 2020.[6][7][8][9] In 2022, EMBank signed a cooperation agreement with Moody's Corporation.[10]

EMBank offers direct access to banking services for fintech and SMEs businesses,[11] safeguarding accounts,[9][12][13] SEPA Instant[14] and Direct Debit,[15] TARGET2[16] and other payments.

References
  1. "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-05-04.
  2. Content, Sponsored (2022-01-14). "Why do we need banking as a service?". London Business News | Londonlovesbusiness.com. Retrieved 2023-05-04.
  3. "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio". en.15min.lt. Retrieved 2023-05-04.
  4. "European Merchant UAB granted a specialised bank licence". lb.lt. 2018-12-17.
  5. "European Merchant Bank prepares for launch in Lithuania". Delfi EN (in Lithuanian). Retrieved 2023-05-04.
  6. "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 2023-05-04.
  7. "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio". May 11, 2022.
  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 2023-05-04.
  9. "European Merchant Bank Offering Banking as a Service API". January 25, 2021.
  10. nwadmin (2022-10-18). "European Merchant Bank has signed a cooperation agreement with Moody's Corporation". FLCC (in Lithuanian). Retrieved 2023-05-04.
  11. "News Archives". FLCC (in Lithuanian). Retrieved 2023-05-04.
  12. benwilliams (2021-12-16). "How Does Banking as a Service Work?". About Manchester. Retrieved 2023-05-04.
  13. Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?". Retrieved 2023-05-04.
  14. "SEPA". European Merchant Bank UAB. Retrieved 2023-05-04.
  15. "Banking payments reimagined: upcoming challenges for the European industry". Infinite Intelligence. Retrieved 2023-05-04.
  16. Navakas, Naglis. ""European Merchant Bank" pajamos augo 13 kartų". vz.lt (in Lithuanian). Retrieved 2023-05-04.
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