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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]
Swedbank AB is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. [2] Swedbank has a leading presence in Estonia and has a strong presence in Latvia and Lithuania.
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.
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 ]
[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.
Bank assets were only €3.2 billion or 25.5% from GDP in 2000, half of which consisted of loan portfolio. [ 98 ] By the beginning of the year 2009, bank assets grew to €26.0 billion or 80.8% to GDP, the loan portfolio reached €20.7 billion. [ 99 ]
Gitanas Nausėda (/ ɡ ɪ ˈ t ɑː n ə s n aʊ ˈ s ɛ d ə /; Lithuanian: [ɡʲɪˈtˠɐnˠɐs nˠɐʊˈsʲeːdˠɐ]; born 19 May 1964) is a Lithuanian politician, economist, and banker who is serving as the ninth and incumbent president of Lithuania since 2019.