In July, AS LHV Group earned EUR 2.5 million in consolidated net profit: AS LHV
Pank earned EUR 1.9 million and AS LHV Varahaldus EUR 0.8 million as net profit.
"Strong trends that characterised previous months continued also in July. Loan
volumes grew by EUR 45 million and deposits by EUR 383 million, including
deposits in the amount of EUR 99 million taken in through deposit platforms to
finalise the Danske transaction. Number of bank customers increased by 3,000.
Important events included the title of Best bank in Estonia received from
Euromoney, also the State treasury began using account in LHV. July's profit
amounted to EUR 2.5 million, we are outperforming the financial plan disclosed
in July mainly because of lower provisions by EUR 0.2 million. At the same time,
we are making preparations for the new share emission taking place in September
and giving shareholders the right to subscribe to new shares," Madis Toomsalu,
CEO of LHV Group commented.
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. LHV
employs over 420 people, and over 182,000 customers use LHV's banking services.
Pension funds managed by LHV have 177,000 active clients.
Priit Rum
Communication Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee (mailto:priit.rum@lhv.ee)
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