Börsiteade

Pealkiri

LHV Group results in April 2024

Teade

On the backdrop of a strong increase in business volumes, April for LHV was
characterised by high profitability, with results still being driven by the
growing loan portfolio and the interest income earned. It was a strong month for
all companies of the Group.

In April, AS LHV Group's consolidated deposits grew by EUR 236 million, and the
consolidated loan portfolio by EUR 94 million. The volume of the funds managed
by LHV grew by EUR 23 million in April. A total of 6 million payments related to
financial intermediaries were made in the month.

In April, AS LHV Group earned EUR 15.8 million in consolidated net profit. AS
LHV Pank generated EUR 13 million in net profit, AS LHV Bank Ltd EUR 1.3
million, AS LHV Varahaldus EUR 259 thousand, and AS LHV Kindlustus EUR 64
thousand. In April, the return on equity attributable to the shareholders of LHV
Group was 33.3%.

The number of clients of LHV Pank increased by 3,550 over the month, with the
issuance of new bank loans reaching a record level. At that, retail loans
increased by EUR 26 million, while corporate loans increased by EUR 56 million.
As the credit quality persisted to be on a good level, discounts remained lower
than planned. Of the EUR 135 million increase in the bank's deposits, the
deposits of regular clients accounted for EUR 110 million and the deposits of
financial intermediaries for EUR 111 million, while the volume of deposits
raised from platforms decreased by EUR 43 million, and the deposits of the
Group's companies also decreased.

LHV Bank Ltd, which operates in the United Kingdom, also continued to actively
raise deposits: the deposits of financial intermediaries increased by EUR 17
million, while an additional EUR 39 million in deposits were raised from
platforms. The interest rates on deposits remained below the central bank's
interest rates. In April, the loan portfolio of LHV Bank increased by EUR 13
million, while the pre-approved loan projects reached the extent of EUR 85
million. The focus of LHV Bank remains on growing the loan portfolio and
developing the offering of retail banking services.

Despite falling stock markets, April still provided good rates of return for the
actively managed funds of LHV Varahaldus. The rates of return of the funds also
had a positive effect on the profit of LHV Varahaldus; the revenues and expenses
remained on the planned level. In April, the number of active clients of the II
pillar increased by 300, while as at the end of April, 5,000 clients had
declared their wish to increase their II pillar contributions.

A positive increase trend continued for LHV Kindlustus. In April, they concluded
13,600 new insurance contracts, and the number of valid policies increased to
237,000. Over the month, they registered 9,500 new loss events, which were
indemnified in the total amount of EUR 1.6 million. The net loss ratio continues
on a downward trend.

In April, Moody's Ratings confirmed the new ratings of AS LHV Pank and AS LHV
Group, raising the rating of LHV Pank's long-term bank deposits from the current
level of Baa1 to A3 (positive outlook), and the rating outlook of LHV Group from
the earlier stable to positive, confirming the strong financial position and
capitalisation of LHV and expressing expectations of the continued strengthening
of creditworthiness.

As at the end of April, the net profit of the consolidation group was ahead of
the published financial plan by EUR 14.1 million. The financial plan stands.

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, LHV Varahaldus, LHV
Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the
end of April, LHV's banking services are being used by 432,000 clients, the
pension funds managed by LHV have 120,000 active clients, and LHV Kindlustus
protects a total of 167,000 clients. LHV Bank Limited, a subsidiary of the
Group, holds a banking licence in the UK and provides banking services to
international financial technology companies, as well as loans to small and
medium-sized enterprises.



Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee (mailto:priit.rum@lhv.ee)