EMBank Achieves Significant Deposit and Asset Growth in 2024

European Merchant Bank (EMBank - https://em.bank/) closed 2024 with solid financial performance, demonstrating resilience and strategic focus amid a recovering economy. As a trusted banking partner for Lithuanian SMEs and international fintechs, EMBank achieved a remarkable 24% increase in operating income and saw total deposits rise by 48%, reaching €197 million. The bank's total assets grew to €212 million, a year-over-year increase of 44%, underscoring the effectiveness of its client-focused strategies.

The Bank's annual earnings increased from €10.82 million to €13.405 million, resulting in a net profit of €1.06 million. Net interest income rose by 30%, reaching €4.407 million, driven by strong lending activities, particularly through corporate bond investments of €38 million. With the market environment stabilising and interest rates remaining favourable, EMBank projects its loan portfolio could grow by as much as 68% in 2025.

CEO Sarp Demiray Reflects on EMBank's Progress
Sarp Demiray, CEO of EMBank, highlighted the market's resurgence and the bank's strategic positioning. "2024 was a turning point. After a challenging economic period, businesses refocused on development and investment. We strengthened our role as a financial partner by combining speed, security, and efficiency in all aspects of our service offering. The 48% increase in deposits clearly shows that customers recognise our commitment," Mr. Demiray stated.
In line with its innovation strategy, EMBank continues to broaden its service portfolio. New initiatives include expanding trade financing options, launching factoring services, and improving escrow and payment solutions. The Bank is also prioritising advancements in mobile banking and Banking as a Service (BaaS) technologies, aiming to deliver flexible, secure, and modern digital experiences to its customers. Plans are in place to significantly extend multicurrency banking capabilities, supporting businesses engaged in international markets.

Chairman Ekmel Cilingir on Future Priorities
Board Chairman Ekmel Cilingir emphasised that EMBank's achievements in 2024 are only the beginning. "The financial sector is increasingly shaped by digital transformation. To maintain our momentum, we must stay ahead of industry trends by investing in technology, security, and customer experience. Strengthening SME financing and broadening the digital services ecosystem remain key priorities as we aim for sustainable growth," Mr. Cilingir explained.
European Merchant Bank's 2024 results reflect not only an ability to grow during recovery periods but also a firm commitment to innovation and customer-centric service. Licensed by the European Central Bank and rooted in Lithuania, EMBank is well-positioned to continue supporting businesses locally and across Europe with secure, efficient, and forward-looking financial solutions.

Media Contact
Company Name: European Merchant Bank (EMBank)
Contact Person: Dilek Isik
Email: dilek.isik@em.bank
Country: Lithuania
Address: Pirkliu Klubas, Gedimino 35, 01119, Vilnius, Lithuania
Website: https://em.bank/

European Merchant Bank (EMBank) is a specialized bank licensed by the European Central Bank, dedicated to empowering businesses and driving financial innovation. Founded in Vilnius, Lithuania, EMBank combines extensive banking expertise with modern digital banking solutions to meet the evolving needs of corporate clients and FinTech companies.

This release was published on openPR.