In August, AS LHV Group made a consolidated net profit of EUR 3.1 million: AS
LHV Pank earned EUR 2.4 million and AS LHV Varahaldus EUR 0.8 million as net
profit.
"In August, the strong trends that characterised previous months continued. Loan
volumes grew by EUR 21 million and deposits by EUR 26 million. The number of
bank customers increased by 3,000. Important events included the enlargement of
LHV ATM network to 125 machines and the improvement of our Mobile bank app,
which in functionality is closing the gap on Internet bank possibilities. The
profit in August amounted to EUR 3.1 million, we are ahead of the Financial plan
disclosed in July by EUR 1 million mainly because of lower than expected loan
impairments. In September, we are conducting a share issue, to gain funds that
will be used in purchasing Danske's private loans portfolio as well as financing
the growing loan volumes forecast in the renewed Financial plan," 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 185,000 customers use LHV's banking services.
Pension funds managed by LHV have close to 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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