Internationalisation of Estonian banking

Internationalisation of Estonian banking sector has mainly been driven by market-seeking argument, but also competition about the strategic advantage of first entry in Latvian and Lithuanian markets played important role. The most successful example is Hansapank, which has developed from a small Estonian bank into a leading commercial bank in the Baltic States. The success of Hansapank is the result of several mutually reinforcing activities: rapid creation of ownership specific assets - professional skills, specialised know-how and customised service combined with confidence building.