© A.Didžgalvio nuotr.

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

Defense Minister: there's no threat to Belarus from West

As Belarus voices plans to take countermeasures in response to the deployment of US troops in...

Amendment on spy swap pushes its way through parliament

The Seimas of Lithuania on Tuesday gave its initial backing to an amendment to the country's Penal...

Karbauskis: no longer clear if ruling block has majority

As a bid to remove Speaker of the Seimas Viktoras Pranckietis failed on Tuesday, Ramunas...

Parliament speaker survives no-confidence vote

Speaker of the Lithuanian Seimas Viktoras Pranckietis has survived a second no-confidence vote as...

Hodges: troops' arrival shows Lithuania can trust US despite 'mistake' in Syria

The deployment of a US battalion to Lithuania sends the message that Lithuanians can rely on...