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Luminor Bank's Baltic integration enters final stage

Luminor Bank AS, the entity arising from the merger of the Baltic operations of currently Sweden-based Nordea Bank AB (publ) and Norway-based DNB ASA, said it was proceeding with the next legal steps to complete its integration.

The Baltic bank expects to be headquartered in Estonia, with branches in Lithuania and Latvia. Luminor will submit a draft merger agreement to the State Enterprise Register of Latvia and notifications to the Estonian Financial Supervisory Authority for branches opening in Latvia and Lithuania.

The legal change is set to take effect in January 2019.