Less than half of Latvians saw their income rise in 2025, according to a Norstat survey for Luminor Bank, LSM reports. In the survey, 41% of Latvian residents reported that their income had increased in 2025. Specifically, 27% said that their income had increased by up to 10%, another 10% by 10-15%, and 7% by…
Baltic financial group Luminor has appointed Karl von Rohr as the new chairman of the supervisory councils of Luminor Holding and Luminor Bank as of 1 January 2026, LSM reports. He replaces Nils Melngailis, who served in the positions since the bank was established in 2017. Prior to his appointment, von Rohr was management board member…
Latvians are not buying homes due to high prices, insufficient savings and income, and economic uncertainty, according to a Norstat survey carried out for Luminor Bank in September 2025, LSM reports. The survey showed that 27% of Latvian residents cited high real estate prices as the main obstacle to buying a home. Another 24% of…
Lithuanians are the most active savers in the Baltic States, according to a September 2025 poll for Luminor Bank, The Baltic Times reports. In the survey, 23% of Lithuanians, 17% of Estonians, and 14% of Latvians said that they were able to save more than 10% of their income regularly. As many as 43% of…
People in Latvia are more optimistic about their financial situation, according to a new SKDS poll for Luminor Bank conducted in December 2024, Baltic News Network reports. The survey showed that 42% of respondents expected their financial situation to improve in 2025, with 22% expecting much better and 21% slightly better finances. Meanwhile, 24% of…
The European Bank for Reconstruction and Development (EBRD) expects the Latvian and Lithuanian economies to grow and the Estonian economy to contract in 2024, LSM reports. The bank lowered its GDP growth forecast for Estonia and Latvia, but raised its forecast for Lithuania. EBRD now expects Estonia’s GDP to decline by 0.8% in 2024, down…
The Latvian parliament, the Saeima, has passed amendments mandating the country’s largest banks to provide in-person customer service and to maintain a network of ATMs outside big cities as of 2026, LSM reported. The new rules will apply to Swedbank, SEB, Citadele, and Luminor. Currently, the big banks have no permanent customer service points in…
The Baltic commercial bank, Luminor Bank, has issued EUR 300mn worth of four-year senior preferred bonds, The Baltic Times reports. The new issue was oversubscribed with EUR 1.6bn in orders from over 130 investors, particularly in the UK. The bonds carry a coupon of 4.042%. At the same time, Luminor repurchased EUR 214.1mn of existing bonds…
Representatives from Lithuania’s five largest commercial banks — Citadele, Luminor, OP Corporate Bank, SEB Bank, and Swedbank — met with Prime Minister Ingrida Simonyte to express dissatisfaction with the extension of the windfall tax on bank profits, BNS reports. They voiced concerns over the unpredictability of the investment environment and the lack of cooperation between…