LHV Group’s August results 2018
AS LHV Group posted a consolidated net profit of EUR 2.4 million in August. AS LHV Pank posted a net profit of EUR 1.8 million and AS LHV Varahaldus EUR 0.7 million.
Comments by Madis Toomsalu, CEO of LHV Group: "August results were defined by the rapid growth of customer base with record activity. The addition of 2,400 new banking customers was helped along by the successful launch of Youth Bank products; we are expecting high usage of the new Youth bank card and micro investing. Loan portfolio increased by 7 EURm, that came from retail loans. In the corporate loan portfolio, signed but not yet paid out loans reached record levels. Deposit volume is exceeding the financial plan, volume of funds managed by LHV is a bit behind the plan. The broad August income base was supported by higher revenues from institutional banking and decreased by impairments made during the month. In asset management, active sales were followed by a calmer month. The group’s financial plan updated in May remains valid, cumulative net profit is 1,8 EURm higher than planned."
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 151,000 customers use LHV’s banking services. Pension funds managed by LHV have over 178,000 active customers.
Phone: +372 502 0786