Luminor Bank

Luminor Bank is a Lithuanian banking company and the local expression of the Luminor banking brand. The brand was created in 2017 when DNB and Nordea combined their banking operations in the Baltic states and named the resulting bank Luminor. The supplied account describes it as the third-largest bank in the Baltic region and reports that it served about 1.3 million customers and employed about 2,900 professionals; these figures are tied to that source’s account and are not presented here as independently verified current figures. The bank’s activities include deposit-taking and lending, as reflected in the source’s discussion of its deposit and loan market shares. Its regional context is the Baltic states: the source lists Luminor operations in Lithuania, Latvia, and Estonia. The subject here is Luminor Bank AB and its banking brand, not the separate historical DNB and Nordea businesses except where their history explains Luminor’s formation. In September 2018, Blackstone acquired a 60% stake from DNB and Nordea, which retained 20% each at that time. The available evidence does not establish the present ownership structure, headquarters, leadership, or a more detailed current product range. The supplied website is Luminor’s Lithuanian site.

Luminor Bank was established as a regional banking brand in 2017, when DNB and Nordea combined their Baltic banking operations and gave the resulting bank the Luminor name. This merger brought together operations with separate histories in Lithuania. The Lithuanian account describes DNB’s predecessor as having been established in 1988 as the Lithuanian republican bank of the USSR Agro-Industrial Bank. It was reorganized in 1990 as the Lithuanian Agro-Industrial Bank and in 1992 as the state-owned joint-stock Lithuanian Agricultural Bank. In 2003 it was renamed AB bankas NORD/LB Lietuva, with Germany’s NORD/LB becoming its strategic investor. It was reorganized as AB DnB NORD bankas in 2006 and renamed AB DNB bankas in 2010 after DnB NOR became the sole owner of the DnB NORD group and changed its name. Nordea’s Lithuanian presence developed separately. The source says MeritaNordbanken announced plans to expand into the Baltic states in January 2000, and Merita Bank opened its first Vilnius branch in May that year. The Vilnius operation took the name Nordea Lietuva in October 2000. In December 2001, banks belonging to the Nordea group adopted the Nordea name. Nordea acquired Kredyt Bank S.A. in Lithuania in 2004 and expanded beyond Vilnius by opening branches in major Lithuanian cities. The 2017 combination of DNB’s and Nordea’s Baltic banking operations created Luminor. In September 2018, Blackstone acquired 60% of the shares from DNB and Nordea; the two banks each retained a 20% stake at that time. The supplied material characterizes Luminor as the Baltic region’s third-largest bank and gives customer, employee, and market-share figures, but it does not provide dates for those figures or establish their current validity. It also does not specify Luminor’s present ownership, leadership, or headquarters.

• 2018

  Blackstone acquires majority stake

• 2017

  Luminor created from Baltic banking operations

• 2010

  DNB name adopted in Lithuania

• 2006

  DNB predecessor reorganized

• 2003

  DNB predecessor renamed NORD/LB Lietuva

• 2000

  Nordea predecessor begins Lithuanian expansion

• 1992

  Lithuanian Agricultural Bank formed

• 1988

  DNB predecessor established in Lithuania

A major Baltic banking business formed by combining DNB’s and Nordea’s regional banking operations.

• Deposits

  Bank deposits are among the activities reflected in the supplied source’s account of Luminor’s deposit market share.

• Loans

  Lending is among the activities reflected in the supplied source’s account of Luminor’s loan market share.

1. 1Luminor Banklt.wikipedia.org
2. 2Luminor Bank ABwikidata.org
3. 3Luminor Lithuania websiteluminor.lt