In November, AS LHV Group earnt EUR 2.5 million in consolidated net profit: AS
LHV Pank earnt EUR 2.0 million in net profit and AS LHV Varahaldus EUR 0.6
million.
Comment of Madis Toomsalu, Managing Director of LHV Group:
"On the basis of all indicators, the results for November were strong. The
number of the bank's clients increased by more than 2,700 and we could see
improvement in various activity indicators. Loan growth in the amount of EUR 36
million was driven by both the corporate as well as home loan portfolio, while
interest income is strong and increasing. Due to a decline in the deposits of
payment intermediaries, total deposits dropped by EUR 71 million over the month,
however those of regular clients increased by EUR 19 million. The volume of
pension funds grew by EUR 9 million. The number of signed investment services
agreements was higher than usual; new investment accounts were opened within
these for the subscription of bonds but also for using the micro-investing
service.
As for other important events, we conducted the LHV Group subordinated bond
issue, where due to the high interest in subscription, we increased the issue
size to EUR 20 million. As at the end of November, we have surpassed the
financial plan of LHV for this year by EUR 1.2 million."
AS LHV Group reports are available at https://investor.lhv.ee/en/reports/.
LHV Group is the largest domestic financial group and capital provider in
Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. There are
380 people working at LHV and more than 159,000 clients are using its banking
services. Pension funds managed by LHV have 178,000 active clients.
Priit Rum
Communication Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee
Attachment
* LHVGroup 2018-11 Investoritele EN (https://ml-
eu.globenewswire.com/Resource/Download/b84709a5-3c25-4163-989e-0520be5bc855)
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