About association

About us


 Lithuanian bank customers association have been established in March, 2010 (hereinafter referred to as "LBKA"). This association is a union of Lithuanian bank customers which aims at securing the socially fair implementation of banking principles in the Republic of Lithuania.

Different situations involving bank customers and credit institutions in Lithuania have encouraged us to be the initiators of LBKA. A nation which has commercial banks that works more than two decades has a responsibility to secure not only the stability and safety development of financial system but also socially fair and liable life for it's citizens.

Contrary to the regulations in many countries of European Union, such as the Netherlands, Austria, Finland, Sweden, United Kingdom, Spain, Greece, Germany and other, the Republic of Lithuania has no legal acts or judicial precedents which could give a right for a legal (natural) person to go bankrupt and start his financial life. The situation in Lithuania is greatly different from the one in Germany, United Kingdom, Ireland, Malta, the Netherlands, Greece and other countries: it is still difficult to speak or seriously discuss about the principles of responsible lending or their legislative perspectives.

For quite a time the Republic of Lithuania has Lithuanian Bank Association, Lithuanian Financial Brokers Association, and Lithuanian Insurers Association - associations uniting companies with high financial and organizational resources and protecting their rights in the financial markets. However, no association uniting individual persons and enterprisers who are the most vulnerable groups in the society has been acting in order to protect and explain their rights as well as duties.

Since March, 2010 LBKA seeks to form the right balance between the credit institutions and their customers. In short, the fundamental objective of the association is to regulate this financial relation under the principles of responsible lending. During the process of lending banks and other credit institutions should concentrate not only on detecting and measuring risks. All the financial services provided by the banks should be placed and served in a socially responsible package. We do believe that banks have a prime duty to guarantee all possible assistance for the most vulnerable group of the society: the provision of the financial services must and shall be fair in the Republic of Lithuania.

We intend to cooperate with the European Union and other international organizations which have similar aims and strive for better regulatory frameworks in the financial markets. Cooperation with well-known and sophisticated organizations could help us to develop this currently small organization and enhance its capabilities to influence the legislation process.