From 1 January 2027, SEB banks in Lithuania, Latvia and Estonia will be merged into a single legal entity. We are simplifying our structure so we can operate more flexibly and better respond to our customers’ needs.
All customer services and the way they are used will remain the same. The clients do not need to take any action to continue using SEB services.
SEB Baltic banks merger
AB SEB bankas and AS SEB Banka will be merged into AS SEB Pank. The merged bank, registered in Estonia, will continue operating under the name SEB Bank AS. The merger is expected to be completed on 1 January 2027, once it has been registered in the Estonian Commercial Register.
Following the merger, all assets, rights and obligations of AB SEB bankas will be transferred to SEB Bank AS, and we will continue to serve you through the branch in Lithuania SEB Bank AS Lietuvos filialas.
Our daily operations and customer service will continue as usual. Clients’ accounts, cards and loans as well as access to internet bank and mobile app remain unchanged, existing agreements remain valid and all banking services continue as usual.
Deposit Guarantees and Investments Protection
After the bank merger, the protection of deposits and investments will be transferred to the Estonian Guarantee Fund Tagatisfond and deposits and investments protection requirements will be defined in accordance with Estonian law.
Both Lithuanian and Estonian guarantee schemes are based on the EU Directive 2014/49/EU on deposit guarantee schemes and Directive 97/9/EC on investor-compensation schemes.
Please find detailed information about eligible clients and their respective protection provided by Estonian Guarantee Fund Tagatisfond:
Investor information sheet (PDF)
Depositor information sheet (PDF)
We also remind you that information regarding the currently applicable Deposit insurance terms and conditions, as well as the Terms and conditions of insurance for obligations to investors, can be found on our website:
Deposit insurance terms and conditions (PDF)
Terms and conditions of insurance for obligations to investors (PDF)
Personal data processing
We will continue to treat personal data with the same highest privacy standards and in accordance with the applicable data protection laws. After the merger, SEB Bank AS will become the controller of personal data.
For more information, please visit Privacy Policy page.
The owner of leased vehicles will change
After the merger, SEB Bank AS will become the owner of the vehicles financed through leasing. No action is required at this time. If the clients will need to take any action, we will notify them in advance.
Amendments to General Business terms and conditions
Due to the bank merger, we have changed the service provider’s name and other requisites to SEB Bank AS Lietuvos filialas in the General Rules and other Terms and Conditions of banking service.
In addition, we have made a few technical and editorial changes to the aforementioned documents that do not affect the way you use our services.
You can find the amended General Rules on our website:
Amendments to Terms and Conditions for the Internet bank
According to the updated Internet bank Terms and Conditions we may terminate the internet bank agreement without prior notice if:
- all payment accounts with the Bank have been closed;
- the client has not logged in to Internet bank for 12 months or more;
- they are not a User;
- they do not have any agreements with the Bank or SEB Group companies.
You can find amended Terms and Conditions for the Internet Bank on our website:
Terms and Conditions for the Internet Bank (PDF)
Changes in Merchant services
Updated E-commerce Payment Services Rules will:
- require merchants to inform the bank if gift cards are sold at their business locations, as this activity is subject to specific risk management requirements;
- clarify that merchants are responsible for obtaining and maintaining all licences, permits, and authorisations required for their business activities;
- set claim submission period of up to 45 days.
Updated Terms and Conditions for Card Acquiring Agreement will:
- require merchants to inform the bank if gift cards are sold at their business locations, as this activity is subject to specific risk management requirements.
You can find updated Terms and Conditions for Card Acquiring Agreement and Terms and Conditions of the E-commerce Payment Service on our website:
Terms and Conditions for Card Acquiring Agreement
Terms and Conditions of the E-commerce Payment Service (PDF)
Next steps
The changes to all of the above documents will enter into force on 1 January 2027.
If the client agrees to the above changes to the General Rules, the Terms and Conditions for the Internet Bank and other documents, they do not need to take any further action, as the amendments will take effect automatically.
If the client does not agree with the above changes to the General Rules or the Terms and Conditions for the Internet Bank, they have the right to terminate the Framework agreement without paying any commission until January 1, 2027. They can do so by informing us via the internet bank or visiting a branch (please register in advance).
If we do not receive a message from the client by this date stating that they do not agree with the changes, we will assume that they have accepted the changes.
In addition, customers have a right to withdraw or transfer eligible deposits to another credit institution with accrued interests until February 1, 2027 in accordance with the rules established in the law.
Frequently asked questions
About the merger
We want SEB to remain a strong and competitive bank in the future. SEB is merging its banks in the Baltic countries into a single legal entity to simplify its legal structure and combining the strengths of our banks in Estonia, Latvia and Lithuania to better serve customers across the region. The change will not affect the way you use our services.
The merger will help us support our clients even better, particularly when financing larger and longer-term investments. It will also allow us to bring new products and solutions to our clients faster and make them more flexible to better meet their needs and market expectations.
AB SEB Bankas (Lithuania) and AS SEB Banka (Latvia) will be merged into AS SEB Pank (Estonia) on 1 January 2027 (or around that date, once the merger is registered in the Estonian Commercial Register).
As from the Merger Date, all rights and obligations of AB SEB bankas and AS SEB Banka, in relation to third parties, including its customers, will be taken over by SEB Bank AS.
