LHV Group’s April results 2018
In April, AS LHV Group earned a consolidated net profit of EUR 2.4 million: the bank earned EUR 1.6 million and asset management EUR 0.7 million of net profit. Net profit attributed to the group’s shareholders was EUR 2.1 million.
Comments by Madis Toomsalu, CEO of LHV Group: "April gave a firm confirmation to the continuing growth trend. The number of LHV Bank customers grew by 2,000 and the loan portfolio by EUR 18 million. We reached a record high in leasing applications and number of agreements, but we also achieved good growth in corporate banking and retail loans. The EUR 295 million decrease in deposit volume was mainly due to the lessening of the deposit of one financial intermediary, other customers’ deposits rose overall by EUR 34 million. Record activity was reached in the number of merchants using LHV payment terminals, points of sale and acquiring, also in card use activity and mobile bank usage. The pension funds managed by LHV reached the highest volume yet. For the first time, in April, the 14% advance payments of income tax was applied and booked in costs.
Additionally, the general meeting of shareholders held in April decided to pay dividends in the amount of 16 cents per share and the dividends have been paid out by now. In April, we also disclosed the details of the Lithuanian business unit UAB "Mokilizingas" sale transaction. Because of this we plan to review our Financial plan for 2018 and will disclose the renewed plan on 17 May."
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 380 people and over 141,000 customers use LHV’s banking services. Pension funds managed by LHV have over 178,000 active customers.
Phone: +372 502 0786