CORRECTION: LHV Group’s results for February 2017
LHV Group net profit was EUR 1.7 million in February
Correction regarding the headline, where mistakenly January was mentioned.
In February 2017 AS LHV Group earned EUR 1.7 million consolidated net profit, of which the major units, the Bank earned 1.1 and Asset Management 0.6 million. Profit belonging to parent company shareholders was EUR 1.5 million.
According to Madis Toomsalu, CEO of AS LHV Group LHV has regular month. "February results were influenced by the short month, and the regular review of Asset Management Pillar II administrative fees, causing lower incomes compared to January. Volume of funds managed by LHV Asset Management reached EUR 1 billion. Expense base remained at normal level. Loans and deposits balances are as expected, credit quality remains stable at good. Based on the two first month, we are able to fulfill the financial plan," Toomsalu commented.
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 300 people and over 110,000 customers use LHV’s banking services. Pension funds managed by LHV have about 180,000 customers.
Phone: +372 502 0786