DNB’s and Nordea’s combined bank to be named Luminor
The name of DNB’s and Nordea’s proposed combined bank in the Baltics will be Luminor. Announcing the new brand is another major milestone in establishing the combined bank.
“We are excited to present the name of the future bank. The brand name Luminor will embody the promise of what we will deliver to our customers – we will be contemporary, entrepreneurial bank for the Baltic way of life and business. Our vision is to become the best Baltic bank with customer centricity at the heart of its strategy,” said Nils Melngailis, Chairman of the proposed combined bank.
“We are building a new brand as well as a new bank. It’s a rare opportunity to do business in our own way, combining our professional experience with our unique approach to the customers,” explains Erkki Raasuke, CEO of the proposed combined bank. “When thinking about the qualities and values, we want the new bank to embody three main principles of doing business - people first, quality in everything and clarity of purpose. This will be the brand promise to all our stakeholders.”
The new brand identity was developed in close cooperation with the UK based global brand consultancy company “Future Brand”.
“The brand name Luminor brings together the new bank’s two most distinctive strengths. The first part of the name helps convey the brand purpose to build a better tomorrow. Lumin - is the Latin root term for light, and that’s what we aim to be for the customers, businesses, communities and countries we live and operate in: a visible sign that things can change for the better, and that points a way forward into that better tomorrow. The second part of our name, - “nor”, refers to the organization’s deep roots in its parent Nordic banks. These two qualities have been combined into one name that can act as a guiding star for customers and colleagues alike, reminding them what the brand stands for and why,” said Freddie Baveystock, Senior Strategy Director, FutureBrand.
The transaction is conditional upon regulatory approvals and conditions, and is expected to close around Q2 2017. The banks will operate independently under current management and existing brands until all necessary approvals have been received.