Baltic, Banks, Financial Services
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Wednesday, 02.07.2025, 02:31
Luminor earns EUR 26.4 mln in Q1 profits in Baltic
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"The economic backdrop of the Baltic countries has been
very favorable and Luminor is taking full advantage of the possibilities it
offers," Luminor Bank CEO Erkki Raasuke was quoted as saying in a
statement.
Luminor's assets
shrank 8.3% over a year to 14.134 bn euros, and its loan portfolio inched down 2.6%
to 11.3 bn euros. The deposit portfolio rose 16% to 9.4 bn euros.
In terms of issued mortgages, Luminor's share stands at 20.9% in the Baltic states, and the bank
has a 16.9% share in terms deposits.
Luminor was established
last year after the Nordic banks of Nordea and DNB merged their Baltic
operations. A contract on the sale of 60%of Luminor's shares to US investment company Blackstone was signed in
September, with the Bank of Lithuania and European Central Bank yet to approve
the deal.
Luminor is
registered in Estonia and has branches in Lithuania and Latvia.
«The Baltic Course» Is Sold and Stays in Business!
