About Us

Turto bankas is the first and only state-owned enterprise that centrally manages state real property for administrative purposes. Turto bankas manages, uses and disposes of State immovable property held in trust, organises auctions and lease tenders for the sale of unnecessary State property, acts as the manager of the State property information system, implements the State’s real property strategy, privatises companies and manages financial liabilities.

MISSION AND VISION OF SE TURTO BANKAS

Mission

Efficient management of public assets

 

Vision

Professional and innovative real property management solutions for the State
VALUES OF SE TURTO BANKAS

We act boldly

  • We turn ideas into solutions
  • We creatively seek innovative solutions
  • We initiate and implement change
  • We are not afraid to make mistakes and we are constantly improving

Responsibility

  • We take responsibility for results
  • We stick to our agreements
  • We work efficiently
  • We build trust

Cooperation

  • We provide help and support
  • We empower to take action
  • We work together constructively
HISTORY OF SE TURTO BANKAS
In 1996
Aurabankas was reorganised into the non-performing assets management company Turto bankas, a public limited liability company
In 2011
Turto bankas was transformed from a public limited liability company into a state-owned enterprise
In 2014
Turto bankas was reorganised by merging with the State Enterprise State Property Fund. Centralisation of administrative state real property begins
2020
Completion of the sixth and final phase of the centralisation of administrative state real property
2021
Administrative property is leased to the clients of the Turto bankas, i.e. public enterprises, instead of being used (gratuitously)
In 1996
Aurabankas was reorganised into the non-performing assets management company Turto bankas, a public limited liability company
In 2011
Turto bankas was transformed from a public limited liability company into a state-owned enterprise
In 2014
Turto bankas was reorganised by merging with the State Enterprise State Property Fund. Centralisation of administrative state real property begins
2020
Completion of the sixth and final phase of the centralisation of administrative state real property
2021
Administrative property is leased to the clients of the Turto bankas, i.e. public enterprises, instead of being used (gratuitously)
In 1996
Aurabankas was reorganised into the non-performing assets management company Turto bankas, a public limited liability company
In 2011
Turto bankas was transformed from a public limited liability company into a state-owned enterprise
In 2014
Turto bankas was reorganised by merging with the State Enterprise State Property Fund. Centralisation of administrative state real property begins
2020
Completion of the sixth and final phase of the centralisation of administrative state real property
2021
Administrative property is leased to the clients of the Turto bankas, i.e. public enterprises, instead of being used (gratuitously)
STRATEGIC OBJECTIVES OF SE TURTO BANKAS

Strategic directions of Turto bankas for 2023 – 2026:

  • High-quality customer service
  • Rational management of public assets
  • Financial sustainability
  • Reliable and attractive employer
  • Effective corporate governance and internal processes

Specific obligations

Special obligations for Turto bankas approved by Order of the Minister of Economy and Innovation of the Republic of Lithuania.

State expectations

The Ministry of Finance, in its capacity as owner of Turto bankas, sets expectations and indicators for the performance of Turto bankas for a four-year period.

Planning documents

Turto bankas reviews its strategy for the next five years on an annual basis, taking into account the specific responsibilities entrusted upon it, the expectations of the State, the current situation and the results already achieved.