In the News

2011-02-04 00:00:02

MRU Prof. Antanas Buračas Comments on Banks & Treatment of Clients

buracas1 February 4th, academic and MRU Professor Antanas Buračas comments on Lithuania's banks in the daily newspaper, "Respublika." Buračas says that banks only "formally" pay attention to smaller clients because they don't make much of a profit with this group. He said that this contrasts to the high esteem such clients are held in Western countries where plain Joes are protected by bank regulations and rules. If a person doesn't understand the risk, then a bank has to explain everything or cover losses, Buračas said. He is a professor in MRU's Dept. of Banking  & Investments.