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These are – Swedbank, Revolut, SEB bankas, Luminor, and Šiaulių bankas. Majority of the market historically has been dominated by branches of the Scandinavian majors. [2] The largest banks and financial institutions in Lithuania, Latvia and Estonia are largely the same and mostly dominated by same Swedish companies. [3] [4] [5]
In 2001, a deal to merge Swedbank (then FSB) with SEB failed as the European Commission thought that the merged company would have had too dominant a position in the Swedish banking market. Today, Swedbank has 7 million private customers and 555 000 corporate customers. Swedbank is the largest bank in both Estonia and Latvia. [7]
In 2005 Swedbank made a buy-out offer to the minority shareholders and as of today Hansabank is a fully owned subsidiary of Swedbank Group. In July 1999, Hansabank's Lithuanian subsidiary Hansabankas opened its doors to clients in Vilnius, adding commercial banking to the services provided by Hansabank Group in Lithuania.
SEB is the largest Swedish bank by both market capitalisation [3] and total assets. [ 4 ] The SEB Group traces its origins to the Stockholms Enskilda Bank and Skandinaviska Banken, established in 1856 and 1864 respectively.
[3] In July 2009, President of Lithuania Dalia Grybauskaitė made her first visit to Sweden. She met with Swedish Prime Minister Reinfeldt [ 4 ] as well as executives from Swedish banks SEB and Swedbank to discuss the economic situation in Lithuania.
Luminor Bank AS is a bank headquartered in Tallinn, Estonia, with branches in Latvia and Lithuania. [3] As of 2019 it was the third-largest bank in the Baltics , with a deposit market share of 16% and lending market share of 22%. [ 1 ]
After this severe recession, the country's economy started to show signs of recovery already in the 3rd quarter of 2009. It returned to growth in 2010, with a positive 1.3 outcome and with 6.6 per cent growth during the first half of 2011. GDP growth had resumed in 2010, albeit at a slower pace than before the crisis.
An electronic identification ("eID") is a digital solution for proof of identity of citizens or organizations.They can be used to view to access benefits or services provided by government authorities, banks or other companies, for mobile payments, etc. Apart from online authentication and login, many electronic identity services also give users the option to sign electronic documents with a ...