OREANDA-NEWS. On January 21, 2007 Lithuania’s major commercial bank SEB Vilniaus Bankas changed its name: from now on its official name is SEB Bank, a public limited company, reported the press-centre of SEB Bank.

This step concludes the bank's more than a two-year long rebranding process, finally consolidating its membership in SEB, an international financial group.  Together with the name of the bank, the names of its branches, subsidiary companies and their representative offices have also been changed. This year, the SEB Group banks in Latvia will also go through the rebranding exercise. 

“We have been a member of SEB – a major international Northern European financial group – for eight years already. During these years we have not only carried out all the strategic changes, but also consolidated the Group’s brand name in Lithuania: it has become well known to our customers, thus, the change of the name is the final, crowning point in the completion of our integration process,” President of the SEB Bank Audrius Ziugzda said.

The change of the name will in no way inconvenience the bank group customers: there will be no changes in their account numbers, all the agreements executed as well as the bank cards issued will remain valid and effective. Also, the requisite information of the bank and its subsidiary companies, i.e. their addresses, legal person’s codes and VAT payer codes remain unchanged.

Together with the change in the bank's name relevant changes will be made in the bank's business style attributes, namely, in its logotype, in the signboards of its subdivisions and on ATMs.  It is planned to complete this process at the subdivisions by April 1, 2008.

A. Ziugzda pointed out that the rebranding does not in any way change the bank's priorities, its customer focus or its values. “Our previous name was related with professionalism, leadership and trust. I am convinced that the name SEB Bank will contribute towards further strengthening of these qualities,” A. Ziugzda maintained. He went on to say that the bank will continue with its efforts to make life easier for its customers. “Availing of the long-standing international experience of the financial group, we will continue offering our customers the best services, the most advanced solutions, reliable consultancy in financial matters and top-quality service,” A. Ziugzda said.

Financial group SEB, which has a 99,7 per cent stake in SEB Bank, is a leading Northern European group offering banking services to 400 thousand corporate and institutional customers and 5 million private individuals. SEB has its subdivisions in the Northern European and Baltic countries, in Poland, Ukraine, Russia and Germany, and via its international network is represented in another 10 countries worldwide. The Group controls a customer service network with over 600 customer service outlets, and its staff numbers 20,000 individuals.