Market announcement
AS LHV Group
LEI code
529900JG015JC10LED24
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
10004
Submission date and time
14.12.2022 16:30:00
Content of announcement in Estonian
Title
Finantsinspektsiooni järelevalveline hinnang kapitalile ja AS-i LHV Group sisemised kapitalieesmärgid
Message
Detsembris esitas Finantsinspektsioon AS-le LHV Group järelevalvelise hinnangu ja täiendava omavahendite nõude (SREP) kapitali adekvaatsuse arvutuses. Võrreldes eelmise hinnanguga otsustas Finantsinspektsioon tõsta AS-i LHV Group jaoks Pillar 2 kapitalinõudeid ja kapitalisuunist. Lisaks on Eesti Pank otsustanud LHV turuosa kasvu põhjendusel tõsta AS-i LHV Group süsteemselt olulisuse puhvrit 0,5% võrra. Detsembris tõstis Eesti Pank ka vastutsüklilisuse puhvri 1% tasemele ja teavitas plaanist tõsta seda aasta pärast veel 0,5 protsendipunkti võrra Vastavalt Finantsinspektsiooni otsusele rakendub AS-le LHV Group konsolideeritud tasemel täiendav omavahendite nõue summas 3,40%, millest vähemalt 1,91% peab olema kaetud esmase taseme põhiomavahenditega ja vähemalt 2,55% kaetud esmase taseme omavahenditega. Finantsinspektsiooni hinnangust lähtudes ning lisades sellele sisemised puhvrid, otsustas AS-i LHV Group nõukogu kehtestada minimaalseks koguomavahendite suhtarvuks 19,20%, minimaalseks esmase taseme omavahendite suhtarvuks 16,35% ning minimaalseks esimese taseme põhiomavahendite suhtarvuks 14,20%. Antud suhtarvude komponentide jaotus on järgmine: +---------------------+---------------------+----------------+-----------------+ | |Esmase taseme |Esmase taseme |Kogu kapitalinõue| | |põhiomavahendid |omavahendid | | +---------------------+---------------------+----------------+-----------------+ |Baasnõue | 4,50% | 6,00% | 8,00% | +---------------------+---------------------+----------------+-----------------+ |Pillar 2 kapitalinõue| 1,91% | 2,55% | 3,40% | +---------------------+---------------------+----------------+-----------------+ |Kokku SREP | | | | |kapitalinõue | 6,41% | 8,55% | 11,40% | +---------------------+---------------------+----------------+-----------------+ |Kapitali säilitamise | | | | |puhver | 2,50% | 2,50% | 2,50% | +---------------------+---------------------+----------------+-----------------+ |Süsteemselt olulisuse| | | | |(O-SII) puhver | 2,00% | 2,00% | 2,00% | +---------------------+---------------------+----------------+-----------------+ |Süsteemse riski | | | | |puhver | 0,00% | 0,00% | 0,00% | +---------------------+---------------------+----------------+-----------------+ |Vastutsükliline | | | | |puhver | 1,00% | 1,00% | 1,00% | +---------------------+---------------------+----------------+-----------------+ |Kombineeritud puhver | | | | |kokku | 5,50% | 5,50% | 5,50% | +---------------------+---------------------+----------------+-----------------+ |Minimaalne | | | | |regulatiivne nõue | 11,91% | 14,05% | 16,90% | +---------------------+---------------------+----------------+-----------------+ |Lisapuhvrid kokku | 2,29% | 2,30% | 2,30% | +---------------------+---------------------+----------------+-----------------+ |Grupisisene | | | | |minimaalne | | | | |kapitalinõue | 14,20% | 16,35% | 19,20% | +---------------------+---------------------+----------------+-----------------+ LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank, LHV Varahaldus ja LHV Kindlustus. Grupi ettevõtetes töötab üle 880 inimese. LHV pangateenuseid kasutab novembri lõpu seisuga 374 000 klienti, LHV hallatavatel pensionifondidel on 131 000 aktiivset klienti ja LHV Kindlustusega on kaitstud 150 000 klienti. LHV Ühendkuningriigi filiaal pakub panganduse taristut enam kui 200 rahvusvahelisele finantsteenuste ettevõttele, mille kaudu jõuavad LHV makseteenused klientideni üle terve maailma. Priit Rum LHV kommunikatsioonijuht Telefon: 502 0786 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Outcome of Supervisory Review and Evaluation Process by the FSA and AS LHV Group’s internal capital targets
Message
In December, the Estonian FSA, Finantsinspektsioon, presented AS LHV Group with the outcome of Supervisory Review and Evaluation Process (SREP) capital adequacy calculation. In comparison with the previous evaluation the FSA decided to raise the Pillar 2 capital requirements and guidelines for AS LHV Group. In addition, because of the growth of LHV's market share Bank of Estonia has decided to increase systemic importance buffer by 0.5%. In December, Bank of Estonia raised the counter-cyclical buffer to the level of 1% and announced the plan to raise it in a years' time by another 0,5 percentage points. According to the decision of the FSA, an additional requirement for own funds in the amount 3.40% applies to AS LHV Group, of which at least 1.91% must be covered by Core Tier 1 own funds and at least 2.55% by Tier 1 capital. The Supervisory Board of AS LHV Group based on the FSA decision and adding to it internal buffers decided to set total CAD target ratio at 19.20%, Tier 1 ratio at 16.35% and Core Tier 1 ratio to 14.20%. Underneath is the target split into components: +-----------------------------------------+-------------+--------+-----------+ | | Core Tier 1 | Tier 1 | Total CAD | +-----------------------------------------+-------------+--------+-----------+ | Base requirement | 4.50% | 6.00% | 8.00% | +-----------------------------------------+-------------+--------+-----------+ | Pillar 2 capital requirement | 1.91% | 2.55% | 3.40% | +-----------------------------------------+-------------+--------+-----------+ | Total SREP requirement | 6.41% | 8.55% | 11.40% | +-----------------------------------------+-------------+--------+-----------+ | Capital conservation buffer | 2.50% | 2.50% | 2.50% | +-----------------------------------------+-------------+--------+-----------+ | Systemic importance buffer (O-SII) | 2.00% | 2.00% | 2.00% | +-----------------------------------------+-------------+--------+-----------+ | Systemic risk buffer | 0.00% | 0.00% | 0.00% | +-----------------------------------------+-------------+--------+-----------+ | Discretionary counter-cyclical buffer | 1.00% | 1.00% | 1.00% | +-----------------------------------------+-------------+--------+-----------+ | Total combined buffer | 5.50% | 5.50% | 5.50% | +-----------------------------------------+-------------+--------+-----------+ | Total minimal regulatory requirement | 11.91% | 14.05% | 16.90% | +-----------------------------------------+-------------+--------+-----------+ | Additional internally decided buffers | 2.29% | 2.30% | 2.30% | +-----------------------------------------+-------------+--------+-----------+ | Group's internal capitalization targets | 14.2% | 16.35% | 19.20% | +-----------------------------------------+-------------+--------+-----------+ LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group employs more than 880 people. As at the end of November, LHV's banking services are being used by 374,000 clients, the pension funds managed by LHV have 131,000 active clients, and LHV Kindlustus protects a total of 150,000 clients. LHV's UK branch offers banking infrastructure to 200 international financial services companies, via which LHV's payment services reach clients around the world. Priit Rum Communication manager Phone: +372 502 0786 Email: [email protected] (mailto:[email protected])