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MoneyGram Re-Enters Lithuania With New Bank Relationship

MoneyGram has returned to Lithuania following the addition country's Ukio bankas to its a global money transfer network. Ukio bankas will add MoneyGram's services to its offerings and will provide a total of 60 send and receive locations across the country.

Nigel Lee, executive vice president of MoneyGram Europe, Middle East, Africa and Asia Pacific, said: “After a six-month absence, MoneyGram is pleased to be back in Lithuania via our new agent to serve the 3.5 million people who live there. Ukio bankas is the oldest private bank in Lithuania and MoneyGram is proud to partner with such an established institution to offer a valuable service to its diverse customer base.”

Mark Crowson, regional director for Northern Europe MoneyGram, said: “The UK accounts for 72% of all send transactions to Lithuania. There are more than 400,000 Lithuanians living in the UK, with 100,000 in London alone. Ireland also has a strong Lithuanian population numbering about 120,000 immigrants. And although Lithuania is primarily a receive country, send transactions are slowly growing to such corridors as the UK, Ukraine and Russia.”

Gintaras Ugianskis, chair of the board of Ukio bankas, said: “A possibility to make fast money transfers will add value to the services provided by our bank to the clients.”