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LHV Group results in November 2021

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In November 2021, AS LHV Group earned EUR 4.6 million in consolidated net
profit. AS LHV Pank earned EUR 5.4 million in net profit, EUR 0.9 million of
which was from servicing clients related to the United Kingdom branch. The
group's subsidiary LHV UK Limited earned a loss of EUR 0.3 million in November,
AS LHV Varahaldus generated a net loss of EUR 68 thousand, AS LHV Kindlustus
generated a net loss of EUR 48 thousand.

The volume of the Group's consolidated deposits increased by EUR 172 million in
November, and crossed the EUR 6 billion threshold. The volume of the loan
portfolio increased by EUR 30 million within the month. The volume of the funds
managed by LHV grew by EUR 13 million in November. In November, the number of
payments processed in relation to clients who are financial intermediaries
reached 2.6 million payments.

November was characterised by higher-than-before business volumes and higher
client activity, which generated higher fee and commission income for the bank.
The number of bank clients increased by 6,300 in November; at that, 3,200
clients who settle their accounts in LHV were gained.

The activity of using investment services still remains high. In the last week
of November, LHV Pank was the first bank in Estonia to introduce the opportunity
of trading in crypto assets to its clients, starting with offering the eight
most common crypto assets. The service was received with expectedly high
interest, as by the end of November, 900 clients had conducted transactions in
crypto assets in the volume of EUR 1.75 million.

Of the EUR 171 million increase in the volume of deposits of the bank, deposits
of regular clients amounted to EUR 87 million, and deposits of financial
intermediaries to EUR 84 million. Of the EUR 30 million increase in the loan
portfolio, corporate loans amounted to EUR 9 million, and retail loans to EUR
21 million. Credit quality remains good.

The results of Varahaldus were affected by the deadline for applications
regarding leaving the II pension pillar, which brought along the amortisation of
assets related to the leaving clients. From August to November, slightly more
than 5,400 clients of LHV pension funds decided to leave the II pillar, which
remained low compared to other larger management companies. The number of active
pension clients was 138 thousand as at the end of November.

In November, LHV Kindlustus started actively offering the travel insurance
product. Also, LHV's vehicle insurance policies were integrated with the car
sales platform provided by Modera. The number of insurance clients increased to
142 thousand. In the conditions of the seasonal increase of loss events and
volume of indemnities, client satisfaction remained very high.

Activities in the United Kingdom in November still focused on hiring key people
and preparing to apply for a credit institution licence.

In the consolidated view of the Group, the company's net profit is still ahead
of the financial plan by EUR 2.9 million.

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, and LHV
Kindlustus. LHV employs over 650 people. As at the end of November, LHV's
banking services are used by 316,000 clients, the pension funds managed by LHV
have 138,000 active clients, and LHV Kindlustus protects a total of
142,000 clients. LHV's UK branch offers banking infrastructure to 180
international financial services companies, via which LHV's payment services
reach clients around the world.


Priit Rum
LHV Head of Communications
Phone: 502 0786
E-mail: [email protected] (https://www.globenewswire.com/Tracker?data=0yXI-4W_-
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