Payward’s Saldo Bank acquisition agreement awaits approval
Payward has signed a binding agreement to acquire Finnish holding company Saldo Finance Oy, whose subsidiary is Lithuanian Saldo Bank. The transaction is expected to close in 2027 and is subject to regulatory approvals.
Saldo Bank’s acquisition is intended, according to Payward, to expand its European banking and payment services capabilities. The parent company of the Kraken platform announced that it had signed a binding agreement to acquire Finnish holding company Saldo Finance Oy, whose subsidiary is Lithuanian Saldo Bank UAB.
The announcement does not mean that the bank has already changed ownership. The transaction is expected to close in 2027 and is subject to customary conditions, including regulatory approvals. Financial terms, including the purchase price, were not disclosed.
Saldo Bank acquisition awaits regulatory approvals
The agreement concerns Saldo Finance Oy, a Finnish holding company whose subsidiary is Saldo Bank UAB. The Lithuanian bank has held a valid specialized bank license since October 26, 2021. According to the records of the Lithuanian central bank, Lietuvos bankas, its authorizations include accepting deposits, providing payment services and issuing payment instruments.
The transaction has not yet been completed and requires customary regulatory approvals. The regulator has not publicly announced approval of the change in ownership.
Payward cites deposits, loans, cards and SEPA payments
Payward says that, after obtaining the necessary approvals, the acquisition should expand its European capabilities in deposits, loans, payment cards, SEPA payments and banking services for partners.
The published plan does not specify which particular services will actually be launched, in which countries or when. Payward makes these possibilities conditional on completion of the acquisition and regulatory approvals.
Once completed, the agreement could give Payward control of licensed banking infrastructure in the European Union and simplify the provision of fiat and credit services alongside the group’s products, including the Kraken platform.
What happens next
The next key step will be decisions by Lithuanian and, potentially, other relevant regulators on the change in ownership. It will then be important to see whether the parties disclose further financial terms of the agreement and whether they meet the expected closing date in 2027.
Only after the transaction is completed will it become clearer which banking products Payward will actually make available and in which European markets. At present, this is a signed but still conditional acquisition.
Sources
- Payward – Payward confirms the signed agreement, the planned closing in 2027, regulatory conditions and intended product use.
- Saldo Bank UAB – The group being sold confirms the transaction scope, the non-disclosure of terms and the need for regulatory approvals.
- Lietuvos bankas – The Lithuanian regulator lists Saldo Bank as a licensed specialized bank and states its banking and payment authorizations.
Verified and updated: October 14, 2026 15:22
