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: paulius.tarbunas@neofinance.com
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