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[1] According to Bank of Lithuania, three banks held 68% of Lithuania's banking market in 2023. The three banks were – Swedbank, SEB Group and Luminor, all three with Scandianvian roots. [2] The largest banks and financial institutions in Lithuania, Latvia and Estonia are largely the same and mostly dominated by Swedish companies. [3] [4] [5]
Swedbank is one of the primary banks in Sweden, together with Nordea, Handelsbanken, and SEB. 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 ...
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.
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SEB is one of the largest banks in Estonia, Latvia, and Lithuania, where Swedbank, another of Sweden's big four banks, is amongst its primary rivals. The SEB Group also has operations in most other Nordic countries , as well as larger foreign markets like Germany and the United Kingdom .
[1] [5] As of 2018, Luminor had 3,000 employees. [2] In February 2019, the bank announced that, due to consolidation, it would reduce its staff by 130 employees in Estonia, 250 employees in Latvia, and 420 employees in Lithuania. [3] The bank also closed 26 of their 61 customer service centers in the Baltic states in 2019. [8]
As at January 1, 2017, RwS bank is one of the largest taxpayers in the banking sector. [21] [22] [23] As of 2024, RwS Bank has 15 branches. There are 6 branches in Kyiv, and the bank is represented in the regions by two branches in Lviv, and one branch each in Odesa, Vinnytsia, Dnipro, Korosten, Ternopil, Ivano-Frankivsk and Chortkiv.
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