On 29 March Luminor banks in the Baltics signed a cross-border merger agreement, and in May received confirmation from the European Central Bank (ECB) that the branches in Latvia and Lithuania may be established and commence their activities. On 28 June, the ECB has given us the official approval to carry out the cross-border merger in the Baltics.
The cross-border merger supports Luminor’s ambition to be a strong, local and customer-centric financial services provider with efficient governance and business operations across the Baltics.
The cross-border merger is expected to be completed on 2 January 2019. The exact date is subject to regulatory approvals and other conditions previously agreed in the merger process.
These are most important information you have to know about merger of Luminor banks.
Important for clients
- Our daily operations and customer service will continue as usual.
- All assets, rights and liabilities of Luminor Latvia will be transferred to Luminor Estonia. Luminor will continue the same activities in Latvia through the locally established Luminor Bank AS Latvian branch.
- Estonian Guarantee Fund (Tagastifond) will take over the protection for deposits. The protection will remain the same it is now and consist 100 thousand Eur guarantee per each depositor per credit institution.
- Estonian Guarantee Fund (Tagastifond) will take over the protection for investments. The maximum amount of guarantee will be 20 thousand Eur per investor per investment service provider.
- Pensions depository function will be performed by Luminor Bank AS in Estonia represented by Luminor Bank AS Latvian branch under the same conditions
Information for business partners
- Once the cross-border merger takes place, new attributes of Luminor Bank AS Latvian branch shall be used:
Luminor Bank AS Latvijas filiāle
Registration number: 40203154352
Legal address: Skanstes iela 12, LV-1013, Riga, Republic of Latvia
Phone number: +371 67 17 1880
Account No. LV15NDEA0000080001032, SWIFT: NDEALV2X