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 price sensitive information
Unique data record identifier
7030
Submission date and time
19.12.2018 16:23:10
Content of announcement in Estonian
Title
Reitinguagentuur Moody’s kinnitas LHV Pangale krediidireitingu tasemel Baa1
Message
Moody's Investors Service kinnitas AS-ile LHV Pank investeerimisjärgu tasemel krediidireitingu stabiilse väljavaatega. Tegemist on esimese korraga kui LHV rahvusvaheliselt reitinguagentuurilt investeerimisjärgu reitingu saab. Moody's Investors Service'i poolt AS-ile LHV Pank kinnitatud reitingud: * Pika-ja lühiajaline vastaspoolte riskihinnang A3 (cr)/Prime-2(cr) * Pika-ja lühiajaline vastaspoole riski reiting A3/Prime-2 * Välis- ja kohalikus valuutas pikaajaliste pangahoiuste reiting Baa1 * Välis- ja kohalikus valuutas lühiajaliste pangahoiuste reiting Prime-2 * Baaskrediidihinnang (BCA) baa3 * Kohandatud baaskrediidihinnang baa3 * Väljavaade pikaajaliste pangahoiuste reitingutele on stabiilne Reitingute määramisel on Moody's hinnanud LHV Panga kohustuste kvaliteeti, krediidikõlbulikkust ja ka Eesti pangandussektori seisukorda. Reitingutega kinnitab Moody's, et LHV finantsprofiil on tugev nagu ka võime teenindada võetud kohustusi. LHV Panga juhatuse esimehe Erki Kilu sõnul kulus LHV-l pangalitsentsi taotlemisest kuni investeerimisjärgu reitingu saamiseni vaid üheksa aastat. "Investeerimisjärgu krediidireiting annab kindlust eelkõige meie klientidele, investoritele ja finantseerijatele. Krediidireitingu olemasolu aitab kaasa äri tegemisele rahvusvaheliselt hõlbustades korrespondentsuhete loomist teiste pankadega ja võimaldades koostööd rahvusvaheliste institutsioonidega finantseerimislahenduste või garantiide pakkumiseks meie klientidele. Samuti on krediidireiting vajalik kaubanduse finantseerimise äri tegemisel," kommenteeris Kilu. Baaskrediidihinnagu määramisel võeti arvesse LHV Panga tugevat kapitaliseeritust ja kasumlikkust, mis tasakaalustab panga agressiivset kasvu ja võrdlemisi hiljuti väljastatud laenuportfelli. Moody's on hinnanguid andes arvesse võtnud Eesti toetavat ärikeskkonda. Eestit iseloomustab dünaamiline majandus ja Euroopa Liidu keskmisest kõrgem majanduskasv. Moody's Investors Service'i hinnangul on LHV Panga pikaajalistel hoiustel stabiilne väljavaade. Moody's on seisukohal, et sarnase ärikeskkonna tingimustes jätkab LHV Pank järgneva 12-18 kuu jooksul stabiilse tegevuse ja kindla krediidiprofiiliga. Teade Moodys'e poolt koostatud aruande kohta on leitav aadressil https://www.moodys.com/research/Moodys-assigns-first-time-Baa1-deposit-ratings- to-AS-LHV--PR_393276. LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank ja LHV Varahaldus. LHV-s töötab 380 inimest ja LHV pangateenuseid kasutab üle 159 000 kliendi. LHV hallatavatel pensionifondidel on 178 000 aktiivset klienti. Priit Rum LHV kommunikatsioonijuht Telefon: 502 0786 E-post: [email protected]
Content of announcement in English
Title
The rating agency Moody’s assigned LHV Pank a credit rating of Baa1
Message
Moody's Investors Service assigned AS LHV Pank an investment-grade credit rating with a stable outlook. This is the first time LHV has obtained an investment- grade rating from an international rating agency. Ratings assigned to AS LHV Pank by Moody's Investors Service: * Long- and short-term counterparty risk assessment of A3(cr)/Prime-2(cr) * Long- and short-term counterparty risk rating of A3/Prime-2 * Foreign- and local currency long-term bank deposit rating Baa1 * Foreign- and local currency short-term bank deposit rating Prime-2 * Baseline credit assessment (BCA) baa3 * Adjusted baseline credit assessment baa3 * The long-term deposit rating carries a stable outlook When assigning the ratings, Moody's has assessed the quality and creditworthiness of the obligations of LHV Pank as well as the condition of the Estonian banking sector. With these ratings, Moody's confirms that the financial profile of LHV is strong, as is its ability to serve the assumed obligations. According to Erki Kilu, Chairman of the Management Board at LHV Pank, it took LHV only nine years from the application for a banking license to obtaining an investment-grade rating. "An investment-grade rating above all provides assurance to our customers, investors and creditors. The availability of a credit rating contributes to doing international business, facilitating the establishment of correspondent relations with other banks and enabling cooperation with international institutions in order to offer our customers financing solutions or guarantees. The credit rating is also necessary when engaging in trade finance," Kilu commented. When assigning the baseline credit assessment, the strong capitalisation and profitability of LHV Pank was considered, which provides a cushion against aggressive growth of the bank and the unseasoned loan portfolio. The ratings of Moody's have taken into account the supportive business environment of Estonia. Estonia is characterised by a dynamic economy and higher than the European Union average economic growth. According to Moody's Investors Service, the long-term deposits of LHV Pank carry a stable outlook. Moody's believes that over the next 12-18 months, LHV Pank will maintain a steady performance and credit portfolio in the context of a similar operating environment. The announcement on the report prepared by Moody's can be found at https://www.moodys.com/research/Moodys-assigns-first-time-Baa1-deposit-ratings- to-AS-LHV--PR_393276. 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 more than 178,000 active clients. Priit Rum Communication Manager Phone: +372 502 0786 Email: [email protected]