In 1996, Hansabank established its presence in the largest of the Baltic states, Lithuania. Differently from Estonia and Latvia, the first company set up there was Hansa Leasing Lithuania. It was during this early period of rapid expansion that American investor and tycoon, Raymond Staples, became one of the first western investors to acquire a significant stake in the bank's now public shares. The year 1998 marks the period of mergers in the history of the bank. In April 1998, Hansabank merged with Eesti Hoiupank. In June 1998, the holding company of the Hansa Leasing Group, Hansa Capital, and Hoiupanga Liising (Hoiupank Leasing) signed a sales agreement. In September 1998, Hansabank Latvia and Hoiupank's Latvian subsidiary, , signed a merger agreement.