Banking in Estonia

 

Estonia, officially the Republic of Estonia (Estonian: Eesti Vabariik), is a state in the Baltic Region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia (343 km), and to the east by the Russian Federation (338.6 km). The territory of Estonia covers 45,227 km2 (17,462 sq mi) and is influenced by a temperate seasonal climate. The Estonians are a Finnic people, and the sole official language, Estonian, is closely related to Finnish.

Estonia is a democratic parliamentary republic and is divided into fifteen counties. The capital and largest city is Tallinn. With a population of only 1.34 million, Estonia is one of the least-populous members of the European Union

 

 

 

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  List of Banks in Estonia


Banking in Estonia
Banks Operating in Estonia
 

Complete List of Commercial banks and savings banks in Estonia.


Licensed Credit Institutions in Estonia

Eesti Krediidipank
Swedbank
SBM Pank
SEB
Sampo Pank
Balti Investeeringute Grupi Pank
Tallinna Äripank
LHV Pank
Affiliated Branches of Foreign Credit Institutions

Parex banka Eesti Filiaal
UniCredit Bank Eesti filiaal
Allied Irish Banks,p.l.c. Eesti filiaal
DnB NORD A/S Eesti filiaal
Nordea Bank Finland PLC Eesti filiaal
Scania Finans AB Eesti filiaal
Siemens Financial Services AB Eesti filiaal
Svenska Handelsbanken AB Eesti filiaal
List based on information from the Estonian Financial Supervision Authority

 

Banks that have ceased to operate on the Estonian market, 1990-2009

  Bank Date of issuing the licence Date of withdrawal of
the licence
Reasons and results of withdrawal of the licence
1. Estonian Branch of the Social Bank of the USSR     05.03.90 liquidated according to the decision of Government of the Estonian SSR.
2. Estonian Branch of the Agricultural Bank of the USSR     05.03.90 liquidated according to the decision of Government of the Estonian SSR.
3. Tallinn Branch of the Vneshekonombank of the USSR     01.01.91 merged to Eesti Pank.
4. Estonian Branch of the Gosbank of the USSR     01.01.92 merged to Eesti Pank.
5. Estonian Branch the Savings Bank of the USSR     14.04.92 reorganised into the state-owned shareholders' bank Eesti Hoiupank according to the Board of Eesti Pank decision.
6. Saaremaa Aktsiapank 06.11.91 18.06.92 Had not started operating.
7. Pärnu Linnapank 23.12.91 18.06.92 Had not started operating.
8. Eesti Kirdepank 04.03.92 18.06.92 Had not started operating.
9. Eesti Kommertspank 16.08.91 19.06.92 Had not started operating.
10. Balti Krediidipank 27.02.92 01.07.92 Had not started operating.
11. Rahvusvaheline Kliiringupank 04.03.92 01.07.92 Had not started operating.
12. Tartu Kommertspank 13.02.92 19.12.92 17.11.92 moratorium declared;
19.12.92 compulsory liquidation started;
21.09.94 declared bankrupt;
bankruptcy proceeding terminated 06.09.2000
13. Lõuna-Eesti Arengupank 21.06.91 26.01.93 Did not fulfil the minimum capital requirement;
17.05.93 declared bankrupt.
14. Lääne-Eesti Pank 15.01.91 26.01.93 Did not fulfil the minimum capital requirement;
24.03.94 declared bankrupt.
15. Tallinna Maapank 18.09.91 26.01.93 Did not fulfil the minimum capital requirement;
acquired by Keila Pank.
16. EKE Pank 04.11.91 26.01.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
17. Pärnu Kommertspank 08.10.91 26.01.93 Did not fulfil the minimum capital requirement;
17.03.93 declared bankrupt.
18. Otepää Ühispank 27.06.91 26.01.93 Did not fulfil the minimum capital requirement;
14.04.93 declared bankrupt.
19. Viimsi Pank 31.07.91 26.01.93 Did not fulfil the minimum capital requirement;
acquired by EVEA Pank.
20. Balti Ühispank 29.08.91 08.02.93 18.11.92 moratorium declared;
08.02.93 moratorium terminated;
16.03.93 merged (together with Põhja-Eesti Aktsiapank) to Põhja-Eesti Pank.
21. Rapla Maapank 16.03.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
22. Võru Maapank 16.03.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
23. Pärnu Maapank 16.03.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
24. Valga Maapank 30.03.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
25. Haapsalu Maapank 30.03.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
26. Paide Maapank 29.04.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
27. Tartu Maapank 01.06.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
28. Harju Maapank 17.06.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
29. Nordpank 29.04.92 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
30. Viljandi Kommertspank 28.06.91 01.03.93 Did not fulfil the minimum capital requirement;
merged to Eesti Ühispank.
31. Revalia Pank 08.03.91 07.03.93 26.01.93 moratorium declared;
07.03.93 compulsory liquidation started;
11.04.94 declared bankrupt (bankruptcy estate sold to Ukrainian INKO Bank).
32. Põhja-Eesti Aktsiapank 01.07.92 16.03.93 17.11.92 moratorium declared;
22.01.93 moratorium terminated;
04.02.93 licence renewed;
16.03.93 merged (together with Balti Ühispank) to Põhja-Eesti Pank.
33. Narva Pank 19.08.91 24.11.93 27.07.93 moratorium declared;
14.12.93 declared bankrupt (bankruptcy estate sold to Eesti Tööstuse Arengu Pank (Esttexpank)).
34. Estonian Branch of the Bank for Industry and Construction of the USSR     05.04.94 liquidated according to the decree of Ministry of Finance (government's confirmation 21.06.94).
35. Eesti Tööstuse Arengu Pank (Esttexpank) 02.08.91 17.11.94 Acquired by Eesti Sotsiaalpank.
36. Eesti Sotsiaalpank 22.01.91 09.05.95 15.08.94 moratorium declared;
21.09.94 moratorium terminated;
after withdrawal of the licence reorganised into ESB Finantskontori AS (an institution for collecting problem loans).
37. NoWe Pank 30.03.92 09.05.95 Did not follow the required levels of prudential ratios;
31.05.95 shareholders decided on voluntary liquidation.
38. Rahvapank (Põlva Maapank) 27.04.92 20.11.95 Acquired by Virumaa Kommertspank.
39. Keila Pank 19.06.91 11.12.95 Did not fulfil the minimum capital requirement;
acquired by Virumaa Kommertspank
.
40. Raepank 16.03.93 28.12.95 Did not fulfil the minimum capital requirement;
acquired by Eesti Forekspank.
41. Eesti Maapank 22.01.91 02.01.96 Did not fulfil the minimum capital requirement;
acquired by Virumaa Kommertspank
(shareholders decided on renaming the bank to Eesti Maapank starting from 22.10.96).
42. Ameerika Balti Pank 26.08.92 09.01.96 Did not fulfil the minimum capital requirement;
decided on voluntary liquidation.
43. Eesti Tööstuse ja Ehituse Kommertspank 26.11.90 02.09.96 Acquired by Eesti Hoiupank.
44. Põhja-Eesti Pank 16.03.93 05.01.97 Acquired by Eesti Ühispank.
45. INKO Balti Pank 29.09.94 02.09.97 Shareholders decided on voluntary liquidation.
06.01.99 declared bankrupt.
25.01.2002 bankruptcy proceeding terminated, excluded from the Commercial Register.
46. Eesti Innovatsioonipank 19.06.91 10.09.97 Licence withdrawn by the Board of Eesti Pank Decision No 10-4 /09.09.97) on the force of Clauses 5 and 7 of Article 19 of the Law on Credit Institutions.
12.01.99 court's order on compulsory liquidation.
47. Eesti Maapank (Virumaa Kommertspank) 22.11.90 29.06.98 Permanently insolvent;
licence withdrawn by the Board of Eesti Pank (Decision No 8-1 /28.06.98).
24.08.98 declared bankrupt.
48. Eesti Hoiupank 11.03.92 14.07.98 Acquired by Hansapank (acquisition registered in the Commercial Register on 20.07.98).
49. Tallinna Pank 08.01.92 14.07.98 Acquired by Eesti Ühispank (acquisition registered in the Commercial Register on 29.07.98).
50. EVEA Pank 31.07.91 01.10.98 Permanently insolvent; licence withdrawn by the Board of Eesti Pank Decision No 11-1/ 01.10.98.
05.02.1999 declared bankrupt.
07.04.2006 bankruptcy proceeding terminated, excluded from the Commercial Register.
51 ERA Pank 03.01.91 07.04.99 Moratorium 07.10.98-06.04.99.
Licence withdrawn by the Board of Eesti Pank (Decision No 3-2/06.04.99).
07.07.99 declared bankrupt.
08.11.2004 bankruptcy proceeding terminated, excluded from the Commercial Register.
52. Eesti Investeerimispank 17.06.92 02.12.98 Acquired by Eesti Forekspank (permission of Eesti Pank 02.12.98, acquisition registered in the Commercial Register on 18.12.98).
53. Eesti Forekspank 30.06.92 20.01.99 As of 21.01.99 bank's business name is AS Optiva Pank.
54. Optiva Pank 21.01.99 28.12.00 As of 29.12.00 bank's business name is AS Sampo Pank.
55. Merita Bank Plc Eesti filiaal     As of 10.01.02 bank's business name is Nordea Bank Finland Plc Estonia Branch.
56. Preatoni Pank 28.09.99 18.06.04 As of 18.06.04 bank's business name is AS SBM Pank.
Its international trademark is SBM Bank.
57. Eesti Ühispank 12.01.93   As of 11.04.05 bank's business name is SEB Eesti Ühispank.
58. SEB Eesti Ühispank     As of 7.03.08 bank's business name is SEB Pank.
59. AS SBM Pank     As of 14.05.08 bank's business name is MARFIN PANK EESTI AS.
60. AS Sampo Pank     As of 1.06.08 bank's business name is Danske Bank A/S Estonia branch. Its trade mark is continuously Sampo Pank.
61. Balti Investeeringute Grupi Pank AS 27.09.05   As of 23.01.09 bank's business name is BIGBANK AS.
62. AS Hansapank 08.02.93   As of 17.03.09 bank's business name is Swedbank AS.

 

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