On Saturday, the Danish Danske Bank and Swedish Swedbank completed the deal they signed at the end of September last year regarding the sale of Lithuanian and Latvian retail banks.
Verslo Žinios reports that the deal covered private client accounts, deposits, loans, payment cards and property documents.
It was announced earlier that more than 86,000 of Danske Bank’s retail bank clients in Lithuania would be transferred to Swedbank. The size of the loan portfolio being transferred in Lithuania equals about €484 million. 7,000 clients are being transferred in Latvia, and that loan portfolio equals a total of €116 million.
The Competition Council confirmed the deal between the two banks in March.
With this move, Danske Bank ended its operations in the retail banking sector. It will now specialise in business and private banking. “We want to become business banking leaders in Lithuania,” Mikael Ericson, a member of the team heading the Danske Bank group, told Verslo Žinios. “This includes small and medium enterprises, larger companies and international corporations,” said Ericson.
Starting at 8:00 on 6 June, former Danske Bank private clients will begin to use Swedbank’s services and will be able to access information about their accounts on Swebank’s website. They will not need to sign new contracts, and the essential conditions of their contracts should not change.
Verslo Žinios
On the eve of the Independence Day of the Republic of Kazakhstan, on December 13,…
Kęstutis Budrys, the President's Senior Adviser, who has been nominated for the post of Minister…
In the heart of Bulgaria, the city of Plovdiv reveals a rich tapestry of ancient…
"We can shout very loudly, but it won't change the position of the American people,"…
From mocking messages flooding social networks to harsh criticism from political experts, the decision of…
Republic Day has been celebrated in Kazakhstan as the main national date since 2022, giving…