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
8652
Submission date and time
16.03.2021 08:01:00
Content of announcement in Estonian
Title
LHV Group plaanib soetada osaluse finantsettevõttes B-North
Message
AS LHV Group kinnitas plaani investeerida 4,455 miljonit naela Suurbritannia finantsettevõttesse B-North ja omandada ettevõttes 9,9% osalus. Tehingu eeltingimuseks on ettevõttele vajamineva rahastuse kokkusaamine ning litsentsi väljastamine Ühendkuningriigi järelevalveasutuse Prudential Regulation Authority poolt. Commercial and Northern Ltd, hetkel ärinimega B-North on Manchesteris baseeruv tehnoloogiapõhine finantsettevõte, mis taotleb järelevalveasutuse UK Prudential Regulatory Authority ja finantsjärelevalve (Financial Conduct Authority) väljastatavat pangalitsentsi, et hakata pakkuma finantseerimist regionaalsetele väike- ja keskmise suurusega ettevõtetele. Kogenud meeskonnaga ja suure kasvuambitsiooniga ettevõttel on tugev valmisolek reaalseks äriga alustamiseks ja plaan asuda tegutsema 150 miljardi naela suurusel Ühendkuningriigi VKE laenude turul. LHV missioon on parem juurdepääs finantsteenustele ja kapitalile ning Ühendkuningriik on üks LHV koduturgudest, kus grupp otsib kasvuvõimalusi. B- Northi plaanide ja LHV panga senise teekonna vahel on võimalik näha selgeid paralleele. See annab LHV-le võimaluse aidata kaasa B-Northi ambitsioonide elluviimisele, rakendades kogemusi panga ülesehitamisest ja samas saades juurde teadmisi Ühendkuningriigi krediiditurust. B-Northi plaan pakkuda väike- ja keskmise suurusega ettevõtetele vajalikku krediiti konkurentidest efektiivsemalt, parimaid tehnoloogilisi lahendusi suhtepangandusega põimides, on LHV näitel suure kasvupotentsiaaliga äri. Olemasolevate investorite hulgas on Greater Manchester Combined Authority ja Channel 4 Ventures. Lisaks LHV Groupile on B-North kaasamas kapitali teistelt investoritelt, seal hulgas LHV Varahalduse juhitavatelt pensionifondidelt. B-Northi plaanide kohaselt kaasatakse vajaminev kapital 2021. aasta II kvartali jooksul, sellele peaks järgnema loa väljastamise protsessi lõpule viimine järelevalve poolt. Investeeringu täpsema sisu ja mõju LHV finantsplaanile avalikustab ettevõte tehingu eelduste täitumisel. B-North on challenger-pank, mida arendatakse sooviga pakkuda teenuseid Ühendkuningriigi ärilaenude turul. 2018. aastal asutatud ettevõttena on B-North hetkel taotlemas pangalitsentsi. Ettevõtte meeskond tunneb UK ettevõtetele laenamise hingeelu ja kasutab oma teadmisi, et ärimudel keskmesse asetada klient. Tulemuseks saab olema paindlik, kiire ja kliendisõbralik laenuteenus. https://b-north.co.uk/ LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank, LHV Varahaldus ja LHV Kindlustus. LHV-s töötab üle 540 inimese. LHV pangateenuseid kasutab üle 269 000 kliendi ja LHV hallatavatel pensionifondidel on 179 000 aktiivset klienti. LHV Ühendkuningriigi filiaal pakub panganduse taristut enam kui 140 rahvusvahelisele finantsteenuste ettevõttele, mille kaudu jõuavad LHV makseteenused klientideni üle terve maailma. Priit Rum LHV kommunikatsioonijuht Telefon: +372 502 0786 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
LHV Group plans to acquire a share in the financial company B-North
Message
AS LHV Group confirmed a plan to place an investment of £4.455 million in the UK financial undertaking B-North and acquire a share of 9.9% in the company. Prerequisites for the transaction include completing the necessary investment round by the company and granting of a licence from the UK Prudential Regulatory Authority. Commercial and Northern Ltd, currently bearing the business name B-North is a Manchester based tech-enabled financial company, currently in the process of applying for a full UK banking licence from the UK Prudential Regulatory Authority and Financial Conduct Authority to start providing financing to regional SMEs. With an experienced team and high growth ambitions the company has a strong readiness to commence business activities, and aims to disrupt the £150 billion UK SME lending market. The mission of LHV is a better access to financial services and capital; the United Kingdom is one of the home markets for LHV, where the company is seeking growth opportunities. One can see clear parallels between plans of B-North and the journey of LHV bank so far. This provides LHV with the opportunity to contribute to fulfilling B-North's ambitions, applying the experience of building a bank while gaining insight to the UK credit market. B-North's plan to provide necessary credit to small and medium-sized enterprises more efficiently than competitors, combining the best technological solutions with relationship banking is a business of great growth potential, as proven by LHV. Existing investors in B-North include Greater Manchester Combined Authority and Channel 4 Ventures. Together with LHV Group, B-North is taking in capital from other investors, including pension funds managed by LHV Varahaldus. B-North is planning on completing its investment round in Q2 of 2021, after which the licensing process of the UK Regulators would have to be concluded. The exact detail of the investment and its impact on LHV's financial plan will be disclosed by the company after the conditions of the transaction have been met. B-North is a challenger that is being developed to serve the UK business lending market. Founded in 2018, B-North is in the process of applying for its banking licence. The team is taking its deep insight into the market for lending to UK businesses and using this to place the customer right at the heart of its business model. The result will be flexible, fast-paced and borrower-friendly. https://b-north.co.uk/. 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. LHV employs over 540 people. LHV's banking services are used by 269,000 clients, and pension funds managed by LHV have 179,000 active clients. LHV's UK branch offers banking infrastructure to 140 international financial services companies, via which LHV's payment services reach clients around the world. Priit Rum LHV Communication Manager Phone: +372 502 0786 Email: [email protected] (mailto:[email protected])