VLADIMIR Romanov, the controversial owner of Hearts FC, has confirmed plans to open a branch of his Lithuanian bank in Edinburgh's New Town. Ukio Bankas, in which Romanov (pictured) is the biggest shareholder, disclosed its intention to set up shop in the Scottish capital to the Vilnius Stock Exchange yesterday. The bank has earmarked a site in Castle Street just off Princes Street. Under Lithuanian banking rules, Ukio must show that it has premises before it can be given a licence to operate overseas. Ukio will start out by offering personal banking services such as current accounts, loans and mortgages, while also seeking to break into the business banking market. Romanov has said it is his "dream" to see Hearts fans as Ukio Bankas customers. Edita Karpaviciene, chairwoman of the Ukio Bankas board, pointed out yesterday that no Eastern European bank has yet come to Scotland, despite
the increasing number of immigrants from the region. "Ukio Bankas hopes to find its niche in this market, " she added. "The bank's experience in both western and eastern markets will give us a competitive advantage and the opportunity to become a financial mediator between the UK and eastern markets."
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