Merger of SEB Baltic banks
From 1 January 2027, SEB’s banking operations in Estonia, Latvia and Lithuania will be combined into one entity, with its head office in Estonia. As part of the merger, the bank’s business name will change from AS SEB Pank to SEB Bank AS. The registry code will remain the same: 10004252.
The reason for bringing the banks together is simple: operating as one Baltic bank will enable us to provide more flexible banking services that better meet our clients’ needs.
All services and agreements will continue automatically
As this is primarily a legal change, it will not affect the way our clients use their banking services. Clients can continue using their accounts, cards, loans, leasing and other SEB services in the same way and under the same terms as before.
There is no need to sign new agreements, as existing agreements will continue automatically with SEB Bank AS.
Changes to the Terms and Conditions
From 1 January 2027, we will change legal name to SEB Bank AS in all our Terms and Conditions.
In addition, we are making more practical changes in some of the documents:
- In General Terms and Conditions, we clarify the role of the Financial Supervision Authority in handling customer complaints.
- In the Terms and conditions of the Internet Bank for private clients and for business clients, we clarify the grounds for terminating the agreement and rights granted to minors in the execution of transactions. We also remove the additional identification requirement that applied to limit changes for customers whose customer relationship was established through the mobile application.
- In Terms of settlement (p. 24-26), we clarify the process for executing European instant payments, including the reservation of the payment amount and service fee on the customer’s account.
- For merchants, we are adding a provision to the Terms and conditions of e-commerce service agreement and the Terms and conditions of merchant agreement for card transactions. The bank may request additional information, reports or access to verify compliance with PCI DSS and the requirements for accepting card payments. At the bank’s request, the merchant should provide a business licence and/or be registered in the relevant register, where this is required for their business activity. Claims related to a transaction should be submitted within 45 days of the transaction date. Merchants should also notify the bank if they plan to start selling gift cards. For payment terminals, the requirements for the security of the PIN entry device and customer privacy will be clarified.
New conditions will apply to agreements automatically.
Clients who agree to the changes to the Terms and Conditions and the merger do not need to take any action.
Clients who do not agree to the changes to the Terms and Conditions have the right to terminate their agreement(s) with the bank or leasing company no later than 31 December 2026.
Clients who do not agree to the merger have the right to withdraw deposits guaranteed by the Estonian Guarantee Fund (Tagatisfond) together with accrued interest. This option applies to deposits whose use is not restricted, for example due to seizure or a right of pledge. Clients are not required to compensate for losses or pay a contractual penalty. This option is available for three months after the merger has been completed and a notification about it has been published on our website. Clients who wish to exercise this right should inform us between 2 January and 2 April 2027 via the internet bank or at a branch. To visit a branch, please book an appointment on our website.
Frequently Asked Questions
We want SEB to remain a strong and competitive bank in the future. To achieve this, we are simplifying our legal structure and combining the strengths of our banks in Estonia, Latvia and Lithuania.
As one Baltic bank, we will have a larger capital base and greater capacity to finance our clients’ activities. This change will enable us to offer more flexible solutions to our clients and employees and bring new services to the market faster.
AB SEB Bankas (Lithuania) and AS SEB Banka (Latvia) will be merged into AS SEB Pank (Estonia) on 1 January 2027 (or around that date, once the merger is registered in the Estonian Commercial Register).
As from the Merger Date, all rights and obligations of AB SEB bankas and AS SEB Banka, in relation to third parties, including its customers, will be taken over by SEB Bank AS.
Our clients will continue to be served locally in Estonia, Latvia and Lithuania. While the head office will be in Estonia, we will remain present and continue serving clients through the local branches in Latvia (SEB Bank AS Latvijas filiāle) and Lithuania (SEB Bank AS Lietuvos filialas).
From 1 January 2027, the legal name of SEB in Estonia will change from AS SEB Pank to SEB Bank AS. The registry code will remain the same: 10004252.
Clients can continue to use SEB services and channels as before. All existing agreements will continue automatically.
The merger will help us support our clients even better, particularly when financing larger and longer-term investments. It will also allow us to bring new products and solutions to our clients faster and make them more flexible to better meet their needs and market expectations.
The merger is mainly a legal change. You can continue using your accounts, cards, loans, leasing and other SEB services as before. Also, you don’t have to sign any new agreements, because they will continue automatically with SEB Bank AS.
Yes. Your existing agreements will continue automatically with SEB Bank AS from 1 January 2027.
Your account number will not change. Your existing accounts will continue to work as before.
Your existing loan agreement will remain valid, with the same terms (interest rate etc.) and your loan and leasing payments continue automatically.
If you have a leasing agreement, the legal owner of the leased vehicle will change to SEB Bank AS. You do not have to sign any new agreements, because they will automatically continue with SEB Bank AS. We will inform affected customers separately and if they need to take any action. Right now, no actions are required from customers.
You can find more questions and answers about the leasing merger further down the page.
No. The merger will not change your fees or interest rates. The terms you have agreed with us will remain.
Nothing will change for existing investments. We will continue holding clients’ securities in the same way, and transactions can be made as before.
Yes. Your deposits will continue to be protected under the applicable deposit guarantee scheme.
No. Your personal data will continue to be processed with the same level of care, security and protection and in accordance with applicable data protection laws.
No. The current merger only concerns SEB's banking entities in Estonia, Latvia and Lithuania.
SEB Life and Pension SE is already operating as a separate Baltic organisation, and the bank merger will not change its legal structure, business operations or organisation. It will not become part of SEB Bank AS as a result of this merger.
Customers of SEB Life and Pension SE can continue using its services as usual.
About leasing merger
At the same time as the banks’ merge, AS SEB Liising is also planned to merge with AS SEB Pank, subject to the approval of the European Central Bank, which is still pending.
After the merger, the legal owner of vehicles purchased through AS SEB Liising will change to SEB Bank AS. All leasing agreements will continue automatically with SEB Bank AS and as of now, clients don’t have to take any action. We will inform clients separately, if they need to do anything.
Frequently Asked Questions
All leasing agreements will be transferred automatically to SEB Bank AS, and clients do not need to take any action. The terms of leasing agreements and the leasing price list will not change.
No. The vehicle’s existing registration certificate will remain valid after the merger and does not need to be replaced.
Although, we recommend replacing the registration certificate if you plan to travel outside Estonia with the vehicle after 1 January 2027.
If you wish to replace the registration certificate due to the merger, SEB will arrange it. Inform us either through the internet bank by sending a message using the envelope icon in the upper-right corner, or by emailing a digitally signed application to info@seb.ee.
Please include the following information in the application:
- The vehicle’s VIN and registration number;
- The lessee’s name and full postal address.
The Estonian Transport Administration will begin issuing new registration certificates in January 2027.
The new registration certificate will be sent by regular post, so it is very important to provide an accurate postal address.
Please note that the old registration certificate will cease to be valid once the new registration certificate has been issued.
SEB will cover the costs of replacing the registration certificate due to the merger. The bank will pay the state fee for replacing the vehicle registration certificate until 31 August 2027.
Ordering a new registration certificate does not make the existing certificate invalid immediately. The existing registration certificate will cease to be valid once the new certificate has been issued.
A vehicle registered in Estonia may continue to be driven in Estonia while the new registration certificate is in the post. In Estonia, the registration certificate does not need to be carried while driving if the driver is entered in the traffic register as the vehicle’s owner or user, or if the vehicle’s owner, responsible user or user is present in the vehicle. The driver must carry an identity document.
When you travel abroad, you should consider the requirements of the destination country. In this case, we recommend waiting until the new registration certificate has arrived.
Existing leasing agreements and related e-invoice standing payment agreements will remain valid, and invoices will be issued by SEB Bank AS.
After the merger, leasing payments must be made to the same current account as before, but SEB Bank AS must be entered as the beneficiary. The existing reference number will remain the same.
Leasing payment details from 1 January 2027:
- Recipient: SEB Bank AS
- Registry code: 10004252
- Account number remains the same: EE251010002006428001
Please note that leasing invoices issued from 1 January 2027 will have an updated design.
If you use an SEB e-invoice standing payment order, you do not need to take any additional action. The recipient’s name and registry code will be updated automatically with the next regular payment.
If you have set up the automatic payment with another bank, please update the payment details using the new information.
The merger of the companies will not affect existing insurance agreements or policies. All existing insurance agreements and policies will remain valid, and no additional action is required.
For insurance policies issued after the merger, SEB Bank AS will be stated as the beneficiary.
There will be some visual changes in the internet bank, but all functions will remain the same.
Due to system changes related to the merger, the availability of leasing services may be limited from 21 December 2026 to 6 January 2027.
Contact us
If you have any questions about your agreements:
- Send a message via internet bank by clicking on the envelope icon in the top menu bar or;
- Call our customer support at 665 5100
Private clients Monday to Friday 8:00–20:00;
Business clients Monday to Friday 8:30–17:30.
Requisites
SEB’s details from 1 January 2027:
Estonia
SEB Bank AS
Address: Tornimäe 2, 15010, Tallinn, Estonia
Registration number: 10004252
VAT registration number: EE100244258
Latvia
SEB Bank AS Latvijas filiāle
Address: Elizabetes iela 95, Rīga, Latvija, LV-1050
Registration number: 40203752520
VAT registration number: LV40203752520
Lithuania
SEB Bank AS Lietuvos filialas
Registration number: 307985639
Address: Konstitucijos pr. 24, LT-08131 Vilnius, Lietuva
Acting on behalf of: SEB Bank AS, VAT registration number LT100020747619Taxpayer Identification Number: 9006150816
