EN RU LV

BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
READ MORE
  • ESTONIA

    Inhabitants - 1,282,963 (July 2011)

    Language - Estonian (official) 67.3%, Russian 29.7%, other 2.3%, unknown 0.7%.

    Currency - EURO (EUR)

    Religion - Evangelical Lutheran 13.6%, Orthodox 12.8%, other Christian (including Methodist, Seventh- Day Adventist, Roman Catholic, Pentecostal) 1.4%, unaffiliated 34.1%, other and unspecified 32%, none 6.1 %.

    Politics - Politics in Estonia takes place under the framework of a parliamentary, representative and democratic republic, in which the Prime Minister of Estonia is the head of government, which involves a multi-party system. Legislative power is vested in the Estonian parliament. Executive power is exercised by the government which is led by the Prime Minister. The judiciary is independent of the executive and the legislature. Estonia is a member of the UN, European Union and NATO, among others.
  • Major industries - engineering, electronics, wood and wood products, textiles, information technology, telecommunications

    Banks (2010) - 15 banks; 191 branches; 5,000 employees; assets – EUR 19,68 billion; loans – EUR 17,38 billion; deposits – EUR 14,84 billion.

    Banking regulations - The Financial Supervision Authority is a financial supervision institution with autonomous competence and a separate budget which conducts supervision in the name of the state and is independent in its activities and decisions. The Financial Supervision Authority conducts state supervision over banks, insurance companies, insurance intermediaries, investment firms, management companies, investment and pension funds, as well as payment service providers, E-money institutions and the securities market that have been authorised by the Financial Supervision Authority. The supervision authority of the domicile of a bank, an insurance company or an investment firm conducts primary supervision over the branches of the banks, insurance companies and investment firms operating in Estonia. Leasing companies and small loan offices do not fall under the supervision of the Financial Supervision Authority. The minimal capital  requirement for establishing a bank is EUR 5 million.