Banks, Financial Services, Investments, Legislation, Lithuania

"We have ambitious plans in the Asian and Pacific region and Pacific Private Bank should become a center for this expansion. It is a small, but fully-licensed bank supervised by Vanuatu's central bank," Kavaliauskas said in an interview to the business daily.

"(Vanuatu) may not be a well-known jurisdiction in our part of the world, Europe, but it is well-known in Asia as an international financial center," he added.

According to Kavaliauskas, Pacific Private Bank focuses solely on private banking services to wealthy clients and asset management.

Enercom Capital has also invested in the US fire suppression products manufacturer Fireaway, Lithuania's private charter flights operator Charter Jets, the Kalvariju open air market in Vilnius, and Lewben Family Offices.