LHV Group’s results for July 2017
In July LHV's business volumes grew
In July, the consolidated net profit of LHV Group was EUR 2.3 million: of the major units the Bank earned EUR 1.9 million and Asset Management EUR 0.4 million. Profit belonging to group’s shareholders was EUR 2.1 million.
Madis Toomsalu, CEO of AS LHV Group commented: "It is delightful that all principal indicators of business volumes have continued to grow, this includes deposits, loans and funds. Strong underlying trends and favorable environment have ensured good results, the expansion of ATM network during summer and our constantly improving mobile bank have boosted momentum. Concurrently with growth we are also improving our business efficiency, our cost to income ratio is decreasing. The credit quality of our portfolio remains good, we are keeping closer track of specific customers. Near term we are focusing on investments in perfecting customer experience and the pension funds have an emphasis on local Estonian investments. We are continually focusing on customers, that care about the development of Estonian economy and Estonian capital. Based on seven months of this year we are able to fulfill the financial plan."
Reports of AS LHV Group 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 AS LHV Pank and AS LHV Varahaldus. LHV employs about 350 people and over 124,000 customers use LHV’s banking services. Pension funds managed by LHV have about 178,000 customers.