The President of Lithuania, Gitanas Nausėda, says the idea of launching a state-owned commercial bank in Lithuania should not be a taboo subject. According to the president, who is also a former Chief Economist at one of the country's banks, the competitive environment within the banking sector has become worrisome.

Currently, two banks control two-thirds of the lending market in Lithuania. He says a national digital bank could service public sector administration payments, offer more transparency, effectiveness, national security and serve the national interests.

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The President of Lithuania, Gitanas Nausėda, says the idea of launching a state-owned commercial bank in Lithuania should not be a taboo subject. According to the president, who is also a former Chief Economist at one of the country's banks, the competitive environment within the banking sector has become worrisome.

Currently, two banks control two-thirds of the lending market in Lithuania. He says a national digital bank could service public sector administration payments, offer more transparency, effectiveness, national security and serve the national interests.