AS Latvijas Universala banka was established in 1993, combining 21 branches of cross-sectional banks that have not been privatized after reorganization of the Bank of Latvia. In 1998, Latvijas Unibanka started to cooperate with Skandinaviska Enskilda Banken (SEB). Since April 2005, the bank provides financial services of multiple types under the name «SEB Unibanka», and since 2008 as «SEB banka».