NEO Finance AB: Due to the targeted inspection performed by the Bank of Lithuania

The Bank of Lithuania carried out a scheduled targeted inspection of NEO
Finance, AB (legal entity code 303225546, address: A. Vivulskio street 7,
Vilnius; Company). During the inspection, the Bank of Lithuania found that the
Company properly complied with the requirements of Article 17, Part 1 and
Article 21, Part 2, Point 1 of the Law on Consumer Credit during the inspected
period. 1 case out of 20 inspected was identified, when the Company did not
immediately reduce the total price of the consumer credit by the amount of
overpayment of EUR 7.4 after the consumer credit recipient has fulfilled the
obligations under the consumer credit agreement before the set term due to an
unintentional error in the IT system. 

The company during the inspection returned the overpayment to the consumer
credit recipient and, in order to prevent such a violation in the future,
immediately performed the necessary programming work. 

On 12/07/2022, by the decision of the Financial Market Supervision Committee of
the Bank of Lithuania, it was decided to complete the inspection of the
Company, without applying impact measures or mandatory instructions to the
Company. 



Head of Adminstration
Paulius Tarbunas
Email: [e-mail]