Estonia 
Banking System Overview
Central Bank
The central bank of Estonia is called Eesti Pank. It is responsible for implementing the monetary policy, maintaining the financial system's stability, and issuing currency. The bank also provides services to the government and the financial sector, including managing the foreign reserves and overseeing payment systems.
Regulated by: Bank of Estonia
Responsibilities of the Central Bank of Estonia include:
- Implementing monetary policy
- Issuing banknotes and coins
- Regulating the financial system
- Managing the country's foreign exchange reserves
Examples: Bank of Estonia
Commercial Banks
Commercial banks in Estonia offer various services, including deposit accounts, loans, foreign exchange transactions, and money transfers. These banks provide services to individuals and businesses.
Regulated by: Financial Supervision Authority
Services typically offered by commercial banks include:
- Deposits
- Loans
- Mortgages
- Credit cards
- Foreign exchange
- Investment services
Examples: Swedbank, SEB Bank, LHV Pank, Coop Pank
Investment Banks
Estonia does not have any pure investment banks. However, some commercial banks offer investment banking services, such as underwriting and financial advisory services.
Regulated by: Financial Supervision Authority
Services typically offered by investment banks include:
- Underwriting and issuing securities
- M&A advisory
- Other investment-related services
Examples: LHV Bank, Redgate Capital
Retail Banks
Retail banks in Estonia primarily focus on serving individuals and small businesses. These banks offer deposit accounts, credit cards, and personal loans.
Regulated by: Financial Supervision Authority
Services typically offered by retail banks include:
- Basic deposit and loan services
- Credit cards
- Online banking
- Mobile banking
Examples: Swedbank, SEB Bank, LHV Pank
Foreign Banks
Several foreign banks operate in Estonia and offer a range of services to customers, including corporate banking and investment services.
Regulated by: Financial Supervision Authority
Services typically offered by foreign banks include:
- Corporate banking
- Trade finance
- Foreign exchange
Examples: Danske Bank, Nordea Bank, OP Corporate Bank
Credit Unions
In Estonia, credit unions, or cooperatives, are called "Savings and Loans Associations". These associations are member-owned and offer services such as savings accounts, loans, and insurance.
Regulated by: Financial Supervision Authority
Services typically offered by credit unions include:
- Savings accounts
- Loans
- Other financial services
Examples: Talveaed and Saaremaa Coop
Savings and Loan Associations
Savings and loan associations are financial institutions that specialize in providing customers savings accounts and mortgage loans.
Regulated by: Financial Supervision Authority
Services typically offered by savings and loan associations include:
- Basic deposit and loan services
Examples: Säästva Krediidipank, Rahva Raamatukassa
Online Banking
Online banking is becoming increasingly popular in Estonia, with several banks offering online services to customers. These services include mobile banking apps, online account management, and e-wallets.
Regulated by: Financial Supervision Authority
Services typically offered by online banking include:
- Account management
- Bill payments
- Money transfers
- Other financial transactions
Examples: Offered by most commercial and retail banks in Estonia
Other Financial Institutions
Other financial institutions in Estonia include payment service providers, insurance companies, and pension funds. These institutions offer various services, including insurance policies, investment plans, and pension schemes.
Regulated by: Financial Supervision Authority
Services typically offered by other financial institutions include:
- Deposit services
- Loan services
- Insurance
Examples: Inbank, Bigbank, Luminor Bank
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