The board of Lithuania-based Bankas Snoras has decided to establish a representative office in Shanghai, China. It will be the bank's first representative office in China and its seventh representative office in a foreign country.
Bankas Snoras’s new office in Shanghai is to be located in the center of the finance and trade zone, near to the Oriental Pearl TV tower and divisions of several Chinese banks.
Raimondas Baranauskas, president of Bankas Snoras, said: We evaluate the range of challenges that we will face – our bank will be the first Lithuanian bank that possesses the representative office in the country, so distant and with different business culture and traditions. We hope that the representative office, established in the so great and fast-developing market, will represent not only Bankas Snoras, but at the same time will fortify the image of the whole country.