Swedbank has most deposits, Luminor loans

Estonian Financial Supervision Authority.
Estonian Financial Supervision Authority. Source: Siim Lõvi /ERR

Data from the Financial Supervision Authority reveals that Swedbank has the biggest deposits volume in Estonia, followed by Luminor, SEB and LHV, with the volumes of other market participants regarded marginal. Luminor has issued the most loans.

People had deposited over €8.2 billion with Swedbank at the end of last year, €7.95 billion with Luminor, €4.1 with SEB and €2.22 with LHV.

Of smaller banks, OP Corporate Bank's Estonian branch had €226 million in deposits.

Regarding loans, Luminor had issued €12.9 billion worth by the end of 2019, followed by Swedbank with a loan portfolio of €10.6 billion and SEB on €6.4 billion.

The watchdog's data is different from figures in banks' annual reports, however, as Swedbank reported having issued €8.278 worth of loans and holding on to €9,113 in deposits in 2019.

Luminor reported having issued €10.22 in loans and holding deposits in the total volume of €10.23 billion.

"The ratio of loans to deposits shrank from 126.5 percent at the start of 2019 to 99.9 percent by the year's end. The deposits portfolio grew by 12.9 percent," said Luminor's PR director Karel Hanni.

The supervision authority's data differs from that of banks also when it comes to the latter's equity.

Head of PR for the watchdog Eva Vahur told ERR that the discrepancies could be caused by different reporting principles.

"The data published on the authority's website is based on supervision reporting and presented across banks, with branch data considered. Such an approach is fixed in regulation and makes our data comparable," Vahur explained.

The FSA puts Swedbank's equity at nearly €1.7 billion at the end of 2019, while the bank's calculations arrive at €1.8 billion.

Luminor's equity came to €1.6 billion and SEB's to nearly €870 million. The equity of both LHV and Bigbank is reported as over €100 million.


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Editor: Marcus Turovski

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