Banks in Lithuania paid EUR 256 mln in solidarity levy in 2023

VILNIUS - Lithuanian banks and credit institutions paid around 256 million euros in temporary solidarity levy for 2023, the central Bank of Lithuania said on Friday. 

They paid 56 million euros for the second quarter, more than 100 million euros for the third quarter, and preliminary paid about 100 million euros for the fourth quarter.

"Despite the economic slowdown, the past year was financially successful for the banking sector, as we had forecast. Banks allocated part of their profits to the solidarity levy that is being used for public purposes," Simonas Krepsta, a board member at the Bank of Lithuania," said in a statement.

The central banks estimates that the solidarity levy for 2024 could amount to around 190 million euros.

Temporary solidarity levy funds are used for the installation of military mobility and dual-use transport infrastructure.