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Cash Management Services in Lithuania June 2012

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Cash Management Services in Lithuania June 2012 Cash Management Services in Lithuania June 2012 Danske Bank acquired SAMPO Bankas in Lithuania and Russia in the autumn of 2006. Currency: LTL Time zone: GMT + 2 On 1 June 2008 SAMPO Bankas became Danske Bank A/S Lithuania branch. Danske The Bank of Central bank: Bank’s profile in Lithuania is Danske bankas. Lithuania Danske bankas offers services to corporate SWIFT BIC SMPOLT22 and institutional customers including cash management, asset management, treasury and Member of EU in 2004 conventional retail banking products. Danske Bank provides seamless and efficient Cash Management services from Ireland in the KøbenhavnKøbenhavnKøbenhavn West to Lithuania and Russia in the East; - - - covering all countries and mainly based on one central IT-platform to deliver integrated 61 12 61 62 28 services for corporate customers. nr. 61 1212nr.nr.nr. 61 61 62 62 28 28 - - - DanskeDanskeDanske Bank Bank Bank CVR CVR CVR A/S. A/S. A/S. Page 1 of 3 - Lithuania Danske Bank, Holmens Kanal 2-12, 1092 København K Phone +45 33 44 00 00 Clearing and local market conditions Foreign exchange regulations information is exchanged electronically Local foreign currency payments There are no restrictions to execute foreign between participants and the BoL. No restrictions. currency exchange. Payment instruments Foreign payments Clearings systems Domestic payments are mainly electronic with No restrictions. LITAS processes all kinds of customer and credit transfers, internet banking, cards and interbank payments regardless of their value. direct debit as the dominant transaction types. Taxation The payment system LITAS-RLS was designed Corporate income tax must be paid by for the real-time processing of payment orders . Credit transfers are the dominant payment Lithuanian entities and foreign entities carrying type in terms of volume and value. on their business through permanent in litas initiated by its participants. Retail Payments from Corporate customers are establishments situated in Lithuania. The payments are sent through the retail payment mainly made as credit transfers. Normal standard corporate income tax rate is 15% system LITAS-MMS operated also by the Bank value dates are the same day, if payment is of Lithuania. received before 14.30 pm. Certain income of foreign entities originated in . Direct debit mostly is used for public Lithuania but received not through permanent LITAS is open from 7.45 to 15.00 for payment utilities and services settlements. establishment in Lithuania is subject to orders in litas local time. withholding tax. (e.g. interest, dividends, Internet banking is growing both on the royalties, etc.) Urgent payments are processed real time and corporate side and household. E-payment and ordinary payments three times per day, 9.00, E-invoice have been introduced in Lithuania, VAT is levied on the supply of goods and 12.00, and 15.00. but is not widespread. services at a standard rate of 21% Cards For details, please consult a local tax advisor KøbenhavnKøbenhavnKøbenhavn - - - Clearing formats System participants (on 29 January 2007, the Cards are very popular in Lithuania. VISA or auditor. participants of the system LITAS-RLS were the credit cards predominate the market. Use of Bank of Lithuania, 9 commercial banks, 2 the cards in shops and in ATM are widespread. 61 12 61 62 28 Danske bankas issues MasterCard, Maestro nr. 61 1212nr.nr.nr. 61 61 62 62 28 28 - - - foreign bank branches, 9 financial brokerage companies, the Depository and the Central and VISA cards. Credit Union of Lithuania) use unique format designed by BoL. Payment instruction DanskeDanskeDanske Bank Bank Bank CVR CVR CVR A/S. A/S. A/S. Page 2 of 3 - Lithuania Danske Bank, Holmens Kanal 2-12, 1092 København K Phone +45 33 44 00 00 Cash Management Products and services of Danske Bank Accounts Electronic banking Links to other banks Resident and non-resident accounts in local Reporting through SWIFT messages. Reporting via MT940 and MT942 statements, and foreign currency. Account opening forms if required. Danske Bank can also report via in English. Danske eBank is Danske bankas online EDIFACT (DEBMUL, CREMUL or FINSTA). business system in Lithuanian, English and Domestic payments Russian language, which provides access to Bank transfer is the safest and fastest way for viewing account information, setting up Further information companies to settle accounts with their payments and other services. If you require more information about Cash partners. Danske bankas offers you an Management in Lithuania, please visit our opportunity to execute domestic payments in Danske Click allows e-commerce websites to website www.danskebankas.lt or LTL as well as payments in other currencies. accept instant online payments from Danske www.danskebank.com/corporate. bankas’ eBanks users. Direct Debit Danske bankas offers a local direct debit Business Online is Danske Bank Groups online service that will help you avoid inconveniences business system, which provides rapid access related to overdue payment of bills. to setting up payments, viewing account information and authorising several payments Foreign payments at the same time. All information in Business No restrictions. Online is updated constantly. So you always have an up-to-date picture of your company's Liquidity management cash position. By installing Business Online you In Danske Bank Group you can make group can make local payments in Denmark, Norway, payments. These transfers are faster and Sweden, Finland, the United Kingdom, Ireland, KøbenhavnKøbenhavnKøbenhavn - - - cheaper than ordinary payments. Germany, Poland, Estonia and Latvia and view account information. Group account can be offered in Lithuania as 61 12 61 62 28 well as interest netting service. nr. 61 1212nr.nr.nr. 61 61 62 62 28 28 - - - DanskeDanskeDanske Bank Bank Bank CVR CVR CVR A/S. A/S. A/S. Page 3 of 3 - Lithuania Danske Bank, Holmens Kanal 2-12, 1092 København K Phone +45 33 44 00 00 .
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