European Merchant Bank

EMBank European Merchant Bank
TypePrivate company
IndustryFinancial services
Founded14 December 2018; 7 years ago (2018-12-14) in Vilnius
Headquarters
Vilnius
,
Lithuania
Key peopleSarp 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. The bank focuses on small and medium-sized enterprises (SMEs) in the fintech space.

History

EMBank was founded in 2018 in Lithuania. On 14 December 2018, "the bank received a banking license from the European Central Bank."

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

In 2022, the institution faced a trademark dispute with mBank and the European Union Intellectual Property Office regarding its name. 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.

Features

The bank offers a number of financial products and services:

Membership and activities

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

EMBank collaborates with Mastercard.

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

See also

References

  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.