The banking sector and its human resource development trends in Lithuania

Abstract

The purpose of the article is to analyse and discuss the Lithuanian banking sector, and its human resources changes and trends; disclose influence to Sustainable National Economic development. Article use general scientific methods, especially analysis, synthesis, comparison, induction and deduction. Essential sources of information were professional publications, data of state Statistics Department, the Bank of Lithuania and the Ministry of Finance documents. The article gives an overview of the Lithuanian banks sector and its human resources, changes and trends, analysis of the evolution, structure and their perspective, analyses a number of banks and their branches the downward causes and consequences. This paper analyses a new trend in Lithuania, to settle Technology and service centres and their development. Barclays in 2009 has established in Lithuania a strategic centre for technologies and services – Barclays Group Operations Centre in Lithuania. The US Company Western Union branch in Vilnius became the largest of its offices around the globe. Danske Bank founded the Danske Bank's Global Service Centre and Danske Bank Group IT Lithuania. According to Danske Bank, Lithuanian human resources have perfect skills, valued 9 out of 10, most of employees have university education in Lithuania. Danske Bank has installed even two of its divisions: Global services and IT services centres. Article examines the banking sector and its future human resource development, improvement perspective. Due to the changes in knowledge economy, the finance specialist’s profession competence changes as well. Growing technology and services centres will raise the need for human resources. Finance and accounting professionals’ demand will increase.