On September 26th European Business held a networking event at the Dutch residency where Ms. Viktorija Trimbel, Managing Director of strategy consulting firm “Quantum Capital”, presented her outlook on Lithuanian perspectives to finance growth.
Ms. Trimbel started her presentation with a hamletic question: “to grow or not to grow?” To which she answered, that not growing is not an option, because then inflation and competitors will make you shrink.
As domains of possible growth she indicated local and export markets, and also acquisitions. When describing current Lithuanian growth curve Ms. Trimbel compared it to rollercoaster-like hills as portrayed in “Apple Maps” of Vilnius airport.
She also tried to answer if the local demand is sustainable. As one of the indicators for the sustainability Ms. Trimbel pointed out 1603 LT net average salary and a 6 percent profitability of corporate sector. The Managing Director of “Quantum Capital” also acknowledged Lithuania’s dependency on exports.
When asking “where is the money” that could finance growth Ms. Trimbel pointed at banks. According to her presentation, at the moment interest rates are at record low, safes and accounts are torn apart by record high deposits, however, lending continues to stagnate at 2006 levels.
Ms. Trimble could not answer what are we truly lacking – is it good projects, good management, or good bankers. She finished her presentation with a humorous remark, that “a bank is a place that will lend you money if you can prove that you don't need it”.
EBN reporter Edgaras Savickas