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What's next for banking sector?

Apr 28, 2023
Radisson Blu Elizabete Hotel, Elizabetes 73

On April 28, Nils Melngailis, Chairman of the Supervisory Council of Luminor Bank and non-Executive Director at Printful addressed AmCham members on recent challenges the banking industry is currently facing, including aggressive interest rate hikes, increasing competition, enhanced regulation, and slow economic growth. He emphasized that European banks, including ones represented in the Baltic region, are in much better shape than the ones in the U.S.

This situation might be explained due to recent collapse of several U.S. banks which have triggered investor anxiety and high market volatility, undermining public trust in the financial system. 

Nils Melngailis brings extensive experience in the financial services industry. He has led the restructuring of collapsed Parex bank to establish Citadele bank and has just acquired the position of Chairman at PrivatBank, the largest bank in Ukraine. He continues to serve as Chairman of Luminor Bank and non-executive director at Printful.

About our speaker
Nils Melngailis currently serves as Chairman of the Supervisory Council of Luminor Bank, one of the leading banks in the Baltic region. 

Nils is an experienced manager and advisor to companies, governments, and financial investors. He has served as an Operating Executive at Centerbridge Partners, Head of Financial Services at Alvarez & Marsal, and has been a Senior Advisor to the Blackstone Group and the IMF.

Nils began his career as a corporate finance partner at PWC and later at IBM, lead the Business Intelligence practice in EMEA. He has led extensive transformation efforts as CEO at Lattelecom and later, during the financial crisis, he restructured Parex bank to establish Citadele bank.

He currently serves as a non-executive director at Printful and is Chairman of Luminor Bank. Nils was recently appointed as Chairman at PrivatBank, the largest bank in Ukraine.

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