LHV Group results for November 2018
In November, AS LHV Group earnt EUR 2.5 million in consolidated net profit: AS LHV Pank earnt EUR 2.0 million in net profit and AS LHV Varahaldus EUR 0.6 million.
Comment of Madis Toomsalu, Managing Director of LHV Group:
"On the basis of all indicators, the results for November were strong. The number of the bank’s clients increased by more than 2,700 and we could see improvement in various activity indicators. Loan growth in the amount of EUR 36 million was driven by both the corporate as well as home loan portfolio, while interest income is strong and increasing. Due to a decline in the deposits of payment intermediaries, total deposits dropped by EUR 71 million over the month, however those of regular clients increased by EUR 19 million. The volume of pension funds grew by EUR 9 million. The number of signed investment services agreements was higher than usual; new investment accounts were opened within these for the subscription of bonds but also for using the micro-investing service.
As for other important events, we conducted the LHV Group subordinated bond issue, where due to the high interest in subscription, we increased the issue size to EUR 20 million. As at the end of November, we have surpassed the financial plan of LHV for this year by EUR 1.2 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 and LHV Varahaldus. There are 380 people working at LHV and more than 159,000 clients are using its banking services. Pension funds managed by LHV have 178,000 active clients.
Phone: +372 502 0786