The Bank of Lithuania (Lithuanian: Lietuvos Bankas), the Central Bank of the Republic of Lithuania, is a member of the European Central Bank System. The current Governor is Vitas Valyakois.

The mission of the Central Bank of the Republic of Lithuania (Bank of Lithuania) is to generate benefits for society in order to achieve a sound financial system and sustainable economic development. Very important to this are the monetary policy decisions of the Eurozone, adopted and implemented as part of the Eurosystem together with the European Central Bank (ECB) and the central banks of the 19 other countries that adopt the euro. The main objective of the ECB is to maintain price stability in the Eurozone in the medium term.

The goal that will unite, the employees of the Bank of Lithuania, the vision of the organization and its significance in its daily activities, the work based on the fundamental values of the institution, the transparency of activities that not only help to create benefits for society, but also help to increase the confidence of the Lithuanian people in the national central bank and the country's entire financial system.

History

1922 The Bank of Lithuania begins its activities. According to an act of the President of the Republic, Professor Vladas Jurguttis was appointed as the first Governor of the Independent Bank of Lithuania, which he led until 1929. Later, Vladas Stasinskas (1930-1939), Juosas Tubelis (1939), Juosas Paknis (1939-1940) were the Governors of the Bank of Lithuania.

The Bank of Lithuania was established on March 1, 1990, continuing the tradition of the country's central bank, which had been in operation during the two world wars. The bank started operations after Lithuania regained its independence and was chaired by Bronius Povilatis (1990), later Vilius Valdissis (1990-1993), Romualdas Visokavicius (1993), Kazis Ratkiewicus (1993-1996), Reynodius Shakinas (1996-2011), and Vitas Vasilioskas (2011-2021).

2022 marks the 100th anniversary of the Bank of Lithuania, the central bank of the Republic of Lithuania. As of April 2021 the bank is headed by Gediminas Šimkus.

Headquarters Vilnius Established September 27, 1922 President Vitas Varyakois Central Bank, Lithuania Successor European Central Bank Website (Lithuanian) (English) The Bank of Lithuania