LHV Group results for August 2019
In August, AS LHV Group made a consolidated net profit of EUR 3.1 million: AS LHV Pank earned EUR 2.4 million and AS LHV Varahaldus EUR 0.8 million as net profit.
"In August, the strong trends that characterised previous months continued. Loan volumes grew by EUR 21 million and deposits by EUR 26 million. The number of bank customers increased by 3,000. Important events included the enlargement of LHV ATM network to 125 machines and the improvement of our Mobile bank app, which in functionality is closing the gap on Internet bank possibilities. The profit in August amounted to EUR 3.1 million, we are ahead of the Financial plan disclosed in July by EUR 1 million mainly because of lower than expected loan impairments. In September, we are conducting a share issue, to gain funds that will be used in purchasing Danske’s private loans portfolio as well as financing the growing loan volumes forecast in the renewed Financial plan," Madis Toomsalu, CEO of LHV Group commented.
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 and LHV Varahaldus. LHV employs over 420 people, and over 185,000 customers use LHV’s banking services. Pension funds managed by LHV have close to 177,000 active clients.
Phone: +372 502 0786