Page 76 - CE Outlook Regions 2022

5.4 Markets - Latvia

Sustainable energy, bio-tech, medicine companies are particularly expected to
do well on the Latvia Stock Market Index (OMX Riga) in 2022.

Latvia’s fintech sector is expected to grow in 2022, however the government,
experiencing international pressure about transparency of its banking sector, is
expected to implement more regulatory mechanisms in 2022.

Analysts say, the market's largest segment in Latvia in 2022 will be Digital
Payments with a total transaction value of US$3.139bn.
The neobanking segment is expected to show a revenue growth of 42.3% in
2022-2023.

In the Digital Payments segment, the number of users is expected to amount
to 1.14mn users by 2025.

5.5 Markets - Lithuania

Lithuania Stock Market Index (OMX Vilnius) will be impacted by international
trends, however, especially medicine and bio-tech companies, like Vladas
Bumelis’ Biotechpharma, are expected to do very well.

As the central bank aims at quality, not quantitiy in fin-tech market, more
constraints on the sector participants are expected in 2022.
Characteristically to Lithuania, in 2021, some fast-growing fintechs suddenly

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