Turto bankas was established as a non-performing asset management company on the basis of the commercial bank Aurabankas in 1995.
Turto bankas was reorganized into state enterprise (SE) in 2011.
SE Valstybės turto fondas was merged with Turto bankas and Turto bankas started to work as operator of centralized State property in 2014.
In 2019 Turto bankas became responsible not only for the management of state property, but also for the development of new State real estate projects.
Nowadays Turto bankas acts as a State-owned property operator, real estate project developer, State-owned property seller. Turto bankas also executes State-owned enterprises privatization and collects public debt.
Turto bankas has offices in Vilnius, Kaunas, Klaipėda and Panevėžys.