LHV Group’s October results 2017
LHV's loan portfolio continued to grow
In October, the consolidated net profit of LHV Group was EUR 1.8 million: of the major units the Bank earned EUR 1.2 million and Asset Management EUR 0.7 million. Profit belonging to group’s shareholders was EUR 1.6 million.
Madis Toomsalu, CEO of AS LHV Group commented:
„October results were characterized by growing business volumes, both the group’s loan portfolio as well as AUM increased by EUR 17 million. As expected, the volume of deposits decreased because of the volatility in payment providers’ deposits. Without taking into account payment providers, the deposits would have grown by EUR 25 million. During the month the number of LHV bank customers increased by 1,900, out of this about 100 client agreements were opened via video identification. LHV Asset Management continued to seek Estonian investments, during October investments in Coop Bank’s and City of Tartu bonds were made. October’s net profit amounted to EUR 1.8 million, and was negatively affected by revaluation of currency exchange rates by EUR 0.2 million.“
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 130,000 customers use LHV’s banking services. Pension funds managed by LHV have over 177,000 active customers.
Phone: +372 502 0786