SEB has decided to legally merge its operations in the Baltics and has obtained the European Central Bank’s (ECB) permission for a cross-border merger.
From completion of the merger, the current business activities of SEB Latvia and SEB Lithuania will continue to be offered locally as branches of SEB Estonia. The cross-border merger is expected to be completed at the beginning of January 2027. From completion of the merger, the business name of the merged bank will be changed to SEB Bank AS.
SEB’s banking operations and customer service will continue in the same manner and through the same channels in Estonia, Latvia, and Lithuania.
Key questions & answers
This change will deliver clear benefits to corporate customers by better catering to long-term and large-scale projects across the Baltics. Retail customers will benefit from a simplified governance structure, reducing time to market for new products and solutions.
To future-proof SEB and secure our continued competitiveness, we need to simplify our legal structure. By connecting the strengths of three local banks, we will become the Baltic bank with the highest capital base and financing capacity. This will make us a larger, stronger, and more streamlined bank for our customers and employees.
The current legal structure has been outgrown and cannot accommodate our business and platform scalability demands. This change will deliver clear benefits to our corporate customers and support scalability, a stronger balance sheet, digitalisation, and resilience.
