Lithuania’s individual investors have stepped up trading in securities during the coronavirus crisis fuelling a substantial increase in activity in the securities market of the Baltic countries, the representatives of Swedbank and SEB, the biggest country’s commercial banks, have said.

Lithuania's electricity transmission grid operator Litgrid saw its net profit surge 174% to 9.111 mln euros in the first quarter of this year, from 3.325 mln euros in the same period last year, Litgrid said in a stock exchange release.

Nitin Shelke, a businessman from the United Arab Emirates (UAE) and the owner of Growmore Group, an investment and financial services group, aims to acquire 100% of shares in Medicinos Bankas, a Lithuanian-capital bank, for an undisclosed amount.

A company of Lithuania's state railway group Lietuvos Gelezinkeliai (Lithuanian Railways) has transferred an advance of 1.039 million euros to RB Rail, the Baltic joint venture coordinating the Rail Baltica European-gauge railway project.

MAAS Aviation, a company providing aircraft painting services, has started building a new aircraft painting hangar in the territory of Kaunas Airport and will create more than 400 skilled jobs, Karolis Matulaitis, the airport’s CEO, has said.

Revolut Bank, which holds a specialized bank license, is officially launching operations in Lithuania on Monday, May 4th.

Lithuania’s commercial banks have already granted payment holidays for business loans worth approximately 1 bn euros due to the coronavirus crisis, president of the Lithuanian Banks' Association (LBA) said on Monday adding that this was in part due to the banks’ compliance with the moratorium on loan holidays of up to six months for businesses, which was signed in late April.

Lithuania on Tuesday borrowed 2 billion euros in the international capital markets by issuing two Eurobond issues of different maturities, the 5-year Eurobond of 750 mln euro face value and 10-year Eurobond of EUR 1.250 mln euro face value, the country's Finance Ministry said.

In March 2020, industrial production totalled EUR 1.8 bn at current prices and, compared to February, seasonally and calendar adjusted, increased by 0.7 % at constant prices (unadjusted – 5.6%), the Lithuanian's statistics office said.

Lithuania's average wholesale electricity price jumped by 27 percent last week compared with a week earlier to 28.1 euros per megawatt-hour (MWh), returning to the level it was at in early 2020, Litgrid said on Monday.