Medicinas bankas, which was founded after the restoration of independence and has been operating for more than three decades, is changing its name and will become Urbo bankas from February 1.
The new name of the bank was announced on January 29 after the extraordinary meeting of shareholders, Nasdaq stock exchange and investors were officially informed about the changes. The head of the bank’s administration, Marius Arlauskas, claims that the new name is an integral part of the growth strategy.
“Since the beginning of our operations, we have been a Lithuanian bank, and we have remained so until today. It is important for us to maintain our national identity, which is why we chose the name of the Urbas mountain in Nida, on which the Nida lighthouse stands and a wide panorama opens. We are a reliable financial partner focused on the needs of the people of Lithuania, so we want Urbo to symbolize our ambition, goal pursuit, clear direction and listening”, asserts M. Arlauskas.
The bank developed the strategy, name and visual identity of the new brand in cooperation with the creative agency “Milk”.
According to the interviewee, the name of Medicina bankas is well known in the financial sector and the user does not even ask himself the question of the meaning of the name. However, from now on the bank chooses not to link to a specific area, but to a more universal name that will help to better reveal its comprehensiveness.
The bank’s long-term strategy envisages consistent growth, expansion of the service spectrum, increasing their availability and improving customer experience. New products are planned in the future, including payment cards and other solutions that improve the quality of customer service.
Medicinos bankas has already announced that it will move from its headquarters in Vilnius, on Pamėnkalnios Street, to the modern business center “Artery” on Konstitucijos Prospect, where the country’s largest banks and other private and public sector institutions have their headquarters. Changes are also waiting for the Kaunas branch, which will not change its premises yet, but it is also slowly looking at alternative, modern real estate options.
“While different scenarios for the development of Medicina Banka, including its sale, were being considered, we deliberately did not undertake renovation work. After making the decision to develop the bank’s activities with our own efforts and the efforts of the assembled team of professionals, it was decided that the name “Urbo” will better and more accurately reflect the bank’s Lithuanian identity and our ambitions to grow,” emphasizes M. Arlauskas, head of the Bank’s administration.
The bank belongs to businessman Konstantinas Karos.
Press release
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– 2024-03-30 01:41:54
