SEB obtained permission for merger in the Baltics
On 22 May 2026, SEB obtained the European Central Bank’s (ECB) permission for a cross-border merger in the Baltics. To strengthen the position in the Baltic market, increase ability to finance businesses and simplify management, SEB will merge three Baltic banks into one.
By changing the legal structure, SEB will leverage the strengths of its three Baltic banks across the region. With a consolidated balance sheet on the Baltic level, SEB’s financing capacity will be further enhanced.
“Merging three Baltic banks into one will deliver clear benefits to our corporate customers, as the bank will be better equipped to cater for the increasing number of long-term and large-scale projects across the Baltics. The new legal structure will also bring advantages to SEB’s retail customers, as a simplified governance structure will reduce time to market for new products and solutions,” said Ieva Tetere, CEO at SEB Latvia.
From completion of the merger, SEB’s banking operations and customer service will continue in the same manner and through the same channels in Estonia, Latvia, and Lithuania. Now that the merger permission has been obtained from the ECB, SEB will proceed with the implementation of the legal change.
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 and the current business activities of SEB Latvia and SEB Lithuania will continue to be offered locally as branches of SEB Estonia. Merger agreement is publicly available through state registries.
