Luminor Bank to have new owner: What it means for customers and employees

Luminor Bank is on the cusp of a significant ownership change, with a new proprietor poised to take the helm. The transaction, however, remains contingent on securing the necessary approvals from regulatory bodies. Until then, Luminor and the acquiring entity, OTP, will continue to operate as separate legal entities.

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Our team continues to work as usual.

Birutė Eimontaitė, Luminor Bank's head of communications in Lithuania, has moved to reassure both staff and clients. She stated that the announced deal will not bring about any immediate disruptions for the bank's employees, who will continue their work as usual. Similarly, customers will not experience any changes to their accounts, cards, loans, savings products, or other existing contracts and terms with Luminor.

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Nothing changes for customers today – Luminor continues to operate as usual. Customer accounts, cards, loans, savings products, and other contracts and terms with Luminor remain unchanged.

Eimontaitė highlighted that OTP is a major banking group in Central and Eastern Europe, boasting millions of customers and extensive experience in bank development. This new ownership is anticipated to provide a solid foundation for Luminor's future growth, building upon its existing strengths. Luminor Bank's Lithuanian branch currently employs over 1,100 individuals, with an average gross monthly salary of 4,100 euros as of May.

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The transaction will be completed after obtaining the necessary approvals from supervisory authorities, and until its completion, Luminor and OTP will operate as separate legal entities.