SEB banka (formerly ''Latvijas Unibanka'', then ''SEB Latvijas Unibanka'') is one of the largest

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s in

Latvia Latvia ( or ; lv, Latvija ; ltg, Latveja; liv, Leţmō), officially the Republic of Latvia ( lv, Latvijas Republika, links=no, ltg, Latvejas Republika, links=no, liv, Leţmō Vabāmō, links=no), is a country in the Baltic region of ...

and a part of the Swedish

SEB Group Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

. Nowadays, its main rivals in the Latvian banking market are

Swedbank Swedbank AB () is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share of ...

, Luminor and Citadele bank.

History

The bank was first founded on 29 September 1993 as '' AS Latvijas Universālā banka'' ('Universal Bank of Latvia') by combining 21 of the non-privatized branches of the

Bank of Latvia The Bank of Latvia ( lv, Latvijas Banka,) is the central bank of Latvia. It is among the nation's key public institutions and carries out economic functions as prescribed by law. It was established in 1922. The principal objective of the Bank of ...

after its reorganization. In 1994 it was handed over to the Privatization Agency of Latvia, but in 1995 it was registered as a private joint-stock company (half of the shares belonged to private capital, half - to the Latvian state), and on 12 December 1995 changed its name to ''Latvijas Unibanka''. In 1996, the shares of ''Latvijas Unibanka'' began to be listed on the official list of the

Riga Stock Exchange The Nasdaq Riga, formerly Riga Stock Exchange, is the sole stock exchange operating in Riga, Latvia. It is owned by Nasdaq, which also operates exchanges in the USA, Denmark, Sweden, Finland, Iceland, Armenia, Lithuania, and Estonia. Established i ...

and were acquired by the

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focus ...

and ''Swedfund International AB''. During the Russian economic crisis in 1998, ''Latvijas Unibanka'' started cooperation with Skandinaviska Enskilda Banken, which became a shareholder on January 5, 1999. By 2000, SEB had become the majority shareholder and launched a bid to grow its share to 98%. In February 2001, Unibanka stopped listing its shares in the Riga Stock Exchange. SEB became the only shareholder in 2004, and on 11 April 2005, it was renamed to ''SEB Unibanka'', and on 7 April 2008 to ''SEB banka''. Until 2008, the bank's branches were named with a Uni-''' prefix (e.g. ''Unilīzings'' for leasing) and its logo was a stylized

Möbius strip In mathematics, a Möbius strip, Möbius band, or Möbius loop is a surface that can be formed by attaching the ends of a strip of paper together with a half-twist. As a mathematical object, it was discovered by Johann Benedict Listing and Augu ...

. The first headquarters of the bank were located in Pils iela 23 along the Doma Square in

Vecrīga Vecrīga ("Old Riga") is the historical center and a neighbourhood (as Vecpilsēta) of Riga, Latvia, located in the Central District on the east side of Daugava River. Vecrīga is famous for its old churches and cathedrals, such as Riga Cathedra ...

, before moving to a new building (''SEB finanšu centrs'', SEB Financial Center) in Valdlauči,

Ķekava Parish Ķekava Parish ( lv, Ķekavas pagasts) is an administrative unit of Ķekava Municipality, Latvia. The administrative center is Ķekava village. Ķekava Parish is defined by Latvian law as belonging partly to the region of Vidzeme and partly to Sem ...

Ķekava Municipality Ķekava Municipality ( lv, Ķekavas novads) is a municipality in Latvia. The municipality was formed in 2009 by Merger (politics), merging Baloži town, Daugmale Parish and Ķekava Parish, the administrative centre being Ķekava. On 1 July 2021, ...

just outside the borders of Riga in 2004.

Patron of the University of Latvia

SEB banka is a silver patron of the University of Latvia Foundation. SEB has supported the

University of Latvia University of Latvia ( lv, Latvijas Universitāte, shortened ''LU'') is a state-run university located in Riga, Latvia established in 1919. The ''QS World University Rankings'' places the university between 801st and 1000th globally, seventh ...

since 2008 by donating to scholarships and forums.

References

External links

SEB banka
- Official site
SEB
Banks of Latvia Companies based in Riga Banks under direct supervision of the European Central Bank Latvian companies established in 1993 Banks established in 1993 {{Europe-bank-stub

History

Patron of the University of Latvia

See also

References

External links