Luminor | News, Hiring, Layoffs, Competitors, CEO, Fundraising Insights
Luminor is the leading independent bank in the Baltic states and the third-largest financial services provider in the region. The...
Luminor is the leading independent bank in the Baltic states and the third-largest financial services provider in the region. The bank aims to drive change and contribute to the community by fostering an economic environment with a future perspective. With a strong local presence and roots in the Nordic countries, Luminor combines global knowledge with local expertise to support sustainable growth in the Baltic region, offering reliable long-term services to both businesses and individuals.
Website
Headquarters
Skanstes iela 12 , Riga, LV-1013, LV
Size
501-1000 employees
Industry
Banking
🛍️ Luminor Product and Pricing News →
👔 Luminor CEO, Management and Leadership Team →
⚔️ Luminor Alternatives and Competitors →
💼 Luminor Hiring and Layoffs →
🤖 Luminor Developer, Integration and Automation News →
📈 Luminor Financials, Fundraising and Valuation News →
🛍️ Luminor Product and Pricing News
- Loreta Načajienė, head of Luminor investicijų valdymas, announced that starting January 1, 2025, state contributions to second pillar pension funds will increase, and a new fund for participants born between 2003-2009 will be established.
- Luminor's Latvian branch must ensure unified ATM cash availability across the country by January 1, 2025, as per Bank of Latvia regulations.
- Luminor has expanded its service categories to include Cryptocurrency Service, Financial Consultant, Financial Institution, Money Transfer Service, and Non-Bank Financial Service.
- Starting January 1, Luminor will change its service conditions, including increasing the cash withdrawal limit for Visa Debit cards to 800 euros per month and reducing the monthly service fee from 1.37 euros to 1 euro.
- Luminor has updated its mortgage offer to include a 0% interest rate for the first 12 months for A-class energy-efficient properties and 0% for the first 6 months for B and C-class properties, with a new total repayable amount of €172,580.75.
- Courts ruled that Luminor's unilateral decision to close a client's bank account was illegal due to lack of a valid reason.
- Luminor launched an instant payment service for customers on October 30, 2024, enabling real-time transfers 24/7.
- Luminor has reduced its EUR term deposit interest rates for 3-month and 9- to 12-month terms from 3.15% and 2.90% to 3.00% and 2.60% respectively.
👔 Luminor CEO, Management and Leadership Team
⚔️ Luminor Alternatives and Competitors
- DNB Bank |
- Bank Norwegian |
- Svenska Handelsbanken |
- Nordea Bank |
- Bluestep Bank |
- Holm Bank |
- Valyuz |
- Bank of Aland |
- Crassula |
- Noviti Finance |
- EverTrust Bank |
- SAFE 1 CREDIT UNION |
- Monterey Credit Union
💼 Luminor Hiring and Layoffs
- Luminor appoints Jonas Urbonas to its Management Board.
- Linda Budrecka has started a new position as Advisor at Luminor Latvija.
- Edgars Pilips has been appointed as the Acting Head of People & Culture at Luminor Group, focusing on enhancing workplace culture and people strategy across the Baltic region.
- Kerli Vares, Luminor's board member and head of the Latvian branch and personal banking, will leave her position on December 30, with Ossi Leikola becoming the new head of the Latvian branch on December 31.
- Kerli Vares will leave her roles as head of Luminor's Latvian branch and personal banking on December 30, 2024, after seven years with the company.
- Indrė Baltrušaitienė, Luminor's Head of Communications in Lithuania, will leave the bank on January 9, 2025, after leading the communications team since 2020.
- Mareks J. has joined Luminor as a Customer Service Consultant in Latvia, previously working as a Junior Specialist at Swedbank.
- Santa Brisone has joined Luminor as a Senior Relationship Manager in Latvia, previously holding the same position at Reģionālā investīciju banka.
🤖 Luminor Developer, Integration and Automation News
- Luminor has signed agreements with ALTUM for portfolio guarantees allowing entrepreneurs to borrow at least 83 million euros from banks.
- Sunergia has partnered with Luminor Bank to offer more favorable terms for energy efficiency loans, including financing for solar panels and heat pumps, with amounts ranging from 4,000 to 30,000 EUR and interest rates starting at 5.9% annually.
- Luminor bank is collaborating with UAB Projesta Group to ensure capital availability for a new 17 million Euro commercial and leisure complex in Vilnius.
- Luminor is collaborating with Visa to offer €10,000 grants and a year of business training to two women-owned businesses in Latvia through the 'She's Next' program, with applications open until October 31.
- Luminor Bank AB is listed as the bank for UAB Megė's account number LT244010042502751076.
- Luminor granted €1.65 million to SIA Oši V to expand into pellet production and Scandinavian export markets, as stated by Corporate Department Head Ilze Zoltnere.
- Luminor is financing CEWOOD's rapid development and increased production capacity.
- Luminor provided €4.76 million to support MS Siltums in building biomass heating plants and new heating pipelines in Latvia, enhancing energy efficiency and sustainability, according to Ilze Zoltnere, Head of Corporate Department.
📈 Luminor Financials, Fundraising and Valuation News
- Nala Renewables borrowed €25 million from Luminor after acquiring six solar power plants in Lithuania.
- Luminor has provided €80 million in funding to AS Augstsprieguma tīkls for electricity transmission infrastructure projects in Latvia, as announced by Ilze Zoltnere, Luminor's Head of Corporate Department.
- Luminor provided €3.2 million in funding to SIA 'Ātrais torņu serviss' for purchasing new lifts for rental in the Baltic states.
- In 3Q24, Luminor reported a profit after tax of 55 million EUR, improved loan book quality, and Moody's upgraded its rating to A2.
- Luminor issued a new bond on September 10, 2024, with a 4.042% interest rate maturing on September 10, 2028, under ISIN XS2888497067.
- Luminor's mortgage lending increased by 50% in the third quarter compared to the same period last year, according to Kaspars Sausais, head of housing lending.
- Luminor reported a 166.9 million euro profit for the first nine months of 2024 in the Baltic states, a 6.4% decrease from the same period last year.
- Kaspars Lukačovs, Luminor's personal lending manager in the Baltic states, noted that despite a 27% increase in loans to private individuals, high Euribor rates still restrict larger borrowing.
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