On 29 March 2018 the Luminor Estonia, Latvia and Lithuania consolidated results for 2017 were published.
As communicated earlier, Luminor was established on 1 October 2017 after DNB’s and Nordea’s operations in the Baltic countries were combined. Before the merger, both banks operated in the Baltics as three DNB banking entities and three branches of Nordea with other legal entities, such as pension, finance and repossessed asset companies.
Upon closing on 1 October 2017, all assets and liabilities of Nordea branches in all three Baltic countries were transferred to DNB’s banking entities in the respective geographic locations and the entities were renamed Luminor.
The Luminor Estonia, Latvia and Lithuania consolidated results of 2017 includes three financial quarters of DNB (including restructuring charges until 1 October 2017) and one financial quarter reflecting results of Luminor business operations in each country.