Nordea and DNB merge to of­fi­cially hap­pen on 1 Oc­to­ber

Baltic News Network - - Front Page -

In ac­cor­dance with the re­cent de­ci­sion of the Euro­pean Com­mis­sion to ap­prove the plans of Nordea and DNB Bank to merge their ac­tiv­i­ties in Baltic States, the busi­ness deal will take place of­fi­cially on 1 Oc­to­ber 2017.

Rep­re­sen­ta­tives say Lu­mi­nor is planned to be­come the lead­ing fi­nan­cial ser­vice pro­vided in Baltic re­gion, one that would com­bine knowl­edge of the lo­cal mar­ket and fo­cus on clients us­ing ex­pe­ri­ence ac­quired in the Nordic banks in­dus­try. It is also men­tioned that Lu­mi­nor’s tar­get au­di­ence will be lo­cal and Baltic re­gion busi­nesses, as well as fi­nan­cially ac­tive and de­ci­sive res­i­dents. Once the deal is done, Lu­mi­nor will have a tal­ented team of man­agers from Lithua­nia, Es­to­nia, Latvia and Nordic coun­tries led by Erki Rāzuke.

Un­til the two banks merge, they will con­tinue work­ing as two mu­tu­ally com­pet­ing en­ti­ties. Once the deal is done there will be a tran­si­tion pe­riod, af­ter which the two or­ga­ni­za­tions will unite into one – Lu­mi­nor Bank, as re­ported by rep­re­sen­ta­tives. It is im­por­tant to note that even af­ter the merge of the two banks, cus­tomer ser­vice will con­tinue as usual – ac­counts, ac­count num­bers, con­tracts and pay­ment cards will re­main un­changed. All fi­nan­cial com­mit­ments will re­main un­changed, as well. Lu­mi­nor will also con­tinue pro­vid­ing fi­nan­cial ser­vices as usual.

«This means clients’ bank ac­counts and pay­ment pro­cess­ing sys­tems will be or­ga­nized un­der their cur­rent banks’ sys­tems. Un­til a cer­tain mo­ment, clients will con­tinue us­ing the es­tab­lished ser­vices – in­ter­net bank, mo­bile bank and other ev­ery­day fi­nan­cial ser­vices,» rep­re­sen­ta­tives say.

Ieva Makare/LETA

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