DNB Pank started its operations in Estonia in 2006 with providing corporate banking products and services and then introduced retail banking products and services, leasing and insurance products. In 2017 DNB Pank was superseded by Luminor Bank AS, a joint venture of DNB and Nordea. Luminor Bank provides banking products and services to all customer groups with a special focus on small and medium-sized companies, as well as affluent private clients.
Due to regulatory requirements Luminor Bank AS performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Luminor Bank AS will ask him/her to provide the following documents: passport, ID card, PEP form, utility bill, wage slip. For corporate clients Luminor Bank AS will ask to provide corporate documentation as well as information about controlling persons. Luminor Bank AS may request additional documentation or information depending on the case.
Luminor Bank AS is the 3rd largest bank in Estonia in terms of total assets. In 2018 its total assets were 3 854,76 mln EUR, providing the bank with the market share of 14.76%. In 2018 the bank's net income was 41,87 mln EUR.
Luminor Bank AS participates in the deposit guarantee scheme of Estonia. This deposit guarantee scheme applies to current accounts, demand deposits, term deposits made by natural persons (Estonian and foreign), legal entities (Estonian and foreign) and covers up to up to 100,000 EUR per bank per depositor. Luminor Bank AS is a member of Guarantee Fund of Estonia and makes its contributions into it.
Luminor Bank AS is headquartered in Tallinn.