Luminor has signed a cross-border merger agreement

Following our legal reorganization steps, today, on 29 March 2018, we signed the Luminor Baltic merger agreement and report. The merger foresees full integration of the banks with headquarters in Estonia and branches in Latvia and Lithuania.

In February, a draft merger agreement and notifications about branches opening in Latvia and Lithuania were submitted to the State Register of Enterprises of Latvia and the Estonian Financial Supervisory Authority respectively.

The cross-border merger of Luminor entities is conditional upon European Central Bank and local FSA approvals and conditions, and the legal change is expected to take place in January 2019.

Daily operations and customer service will continue as usual. Other developments, including changes related to product alignment and launch of new customer offerings and digital advancements, will be communicated separately.

Luminor’s ambition is to build a strong, local and customer-centric bank with efficient governance and business operations across the Baltics.