In June, after signing an agreement with SBA Group’s investment management company “Capitalica Asset Management” for a 17 million EUR loan for the “Sand Offices” business center in Vilnius, “Rietumu Banka” continues to expand its operations in Lithuania.
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Here, the independent Latvian bank is primarily interested in financing commercial real estate that already generates income – offices, shopping centers, hotels, logistics projects, and more. With larger market participants, “Rietumu Banka” is ready to finance both commercial and residential real estate development, as well as the expansion of manufacturing facilities.
The Latvian bank is also interested in financing large manufacturing businesses in Lithuania and non-bank financial institutions with portfolios secured by real estate or vehicles. “Rietumu Banka” would also consider niche projects, including trade financing, lending secured by agricultural or forest land plots, financing private planes or yachts, and more.
Jelena Buraja, Chairwoman of the Board and CEO of “Rietumu Banka,” comments that the bank is expanding in all Baltic countries and considers neighboring Lithuania and Estonia as home markets. “Rietumu Banka” positively assesses the rapid growth of the Lithuanian economy, the growing real estate and manufacturing sectors, and emphasizes that the size of the economy and the number of large businesses in the market are more important to the bank than the macroeconomic situation.
“Our typical client is a larger, experienced, expert business with clear plans. We evaluate financing projects very carefully, but once we find businesses that meet the criteria, we can offer them individual solutions that differ from standard bank offers. We enjoy the challenges of strong market players because we can help solve them,” says Jelena Buraja.
According to her, “Rietumu Banka” is most interested in loans of tens of millions of euros in Lithuania, but smaller amounts would also be considered. The bank is also ready to finance businesses or projects operating in all Baltic countries, as well as expansion beyond our region. “Rietumu Banka” has already financed its Baltic clients’ activities in Spain, Ireland, and elsewhere.
“We clearly see both the challenges and opportunities of Lithuanian business. The country has a limited flow of new direct foreign investments, this year’s GDP may be inflated by one-off factors, and residential real estate seems to be retreating from its peak for a while. However, we see strong fundamental indicators and, most importantly, a very mature local business eager to expand in the home region and beyond. We want to contribute to this ambition with our bank’s experience, flexibility, and individual solutions,” comments Jelena Buraja.
The bank’s leader believes that in Lithuania, “Rietumu Banka” will stand out with its knowledge of the Baltic markets, long-term international experience, financing of non-standard projects, individual solutions, flexible approach, the ability to finance projects in different markets through a single creditor, personal project managers for each client, and more.
The Lithuanian bank forecasts that the country’s GDP will grow by 2.7% this year, growth will slow to 2% next year, but will return to above 3% the year after. Household consumption indicators will look similar in the coming years, strongly driven this year by pension reform. However, investment volume and exports in Lithuania are forecasted to grow by 3-4% in the coming years, local business is actively expanding in domestic and export markets, the housing sector should be supported by decreasing down payment requirements, so all this is seen by “Rietumu Banka” as a favorable state context for the development of financial services.
“Rietumu Banka” has previously provided 19 million EUR financing for the third phase of the “Verde” business center developed by Lithuania’s “Capitalica Asset Management” in Riga. Now the bank has approved an additional loan of about 30 million EUR for the final phase of this project. This was one of the most significant examples in recent years where bank financing was provided during the construction of a commercial real estate project – this case shows “Rietumu Banka”‘s trust in the Lithuanian capital company and the further development of the already proven business complex in Riga.
“Rietumu Banka” has also financed the Lithuanian credit company “Kredito garantas,” belonging to the Estonian “Omega Laen” group and providing mortgage loans to private and business clients. “Rietumu Banka” has provided the company with a total of 20 million EUR financing, secured by the group’s assets in Lithuania and Estonia. This financing was intended for the further business development of the group’s companies in Lithuania, Estonia, and Poland.
In 2025, “Rietumu Banka” issued a total of 187 million EUR in new loans and approved an additional 110 million EUR in credit. At the end of last year, the bank’s active loan portfolio amounted to 652 million EUR.
