Bank of Lithuania

01/14/2022 | Press release | Distributed by Public on 01/14/2022 06:14

Bank of Lithuania sets its strategic objectives for 2022–2025

The Board of the Bank of Lithuania approved the new operational strategy for 2022-2025 and updated its organisational values.

The three new strategic directions of the bank include a financial sector that generates value for consumers (or, in general terms, value), a financial sector that promotes sustainable economic development (sustainability) and a progress-oriented organisation (progress). Specific objectives were set for each strategic direction.

Objectives for the strategic direction related to value:

  • Enhance the quality and accessibility of financial services and inclusion of different social groups as well as achieve the integrity of the financial services market
  • Increase the spread and accessibility of payment instruments
  • Increase the maturity of new market participants and conformity of products
  • Improve economic and financial literacy of the general public
  • Strengthen Lithuania's long-term economic analytics
  • Boost competition of Lithuania's financial sector and promote sustainable and innovative market development

Objectives for the strategic direction related to sustainability:

  • Manage and mitigate climate risks
  • Ensure sustainable activities of the Bank of Lithuania

Objectives for the strategic direction related to progress:

  • Increase the maturity of data management
  • Digitise the processes and services of the Bank of Lithuania
  • Strengthen the resilience of the financial system to internal and external shocks
  • Be among the three most efficient central banks in the Nordic-Baltic region
  • Develop competences and talents relevant (necessary) to the Bank of Lithuania
  • Strengthen the representation of the Bank of Lithuania at the EU and international levels

Organisational values were also updated along with the operational guidelines for 2022-2025 approved by the Board of the Bank of Lithuania. The new values are value to society, accountability, and continuous progress.