For LHV, the first quarter of the year demonstrated strong results, affected by the higher-than-planned increase in business volumes and the interest environment remaining at the same level. In Q1 of 2024, AS LHV Group generated EUR 40.7 million in net profit. AS LHV Pank earned EUR 36.8 million and LHV Bank Limited EUR 4.9 million in net profit. AS LHV Varahaldus generated a net loss of EUR 220 thousand in Q1, and AS LHV Kindlustus generated a net profit of EUR 256 thousand. The return on equit
The Supervisory Board of AS LHV Group has decided to recall the Management Board member and CRO Martti Singi by the end of 2024 at the latest as mutually agreed. Simultaneously, it has been decided to recall the Management Board member and CRO of AS LHV Pank within the same timeframe. According to Madis Toomsalu, Chairman of the Management Board of LHV Group, Martti Singi’s contribution to risk management at LHV has been significant. “Martti has been one of the main constructors of LHV’s current
The rating agency Moody's Investors Service affirmed AS LHV Pank’s and AS LHV Group’s new raitings, upgrading LHV Pank’s long-term deposit rating from Baa1 to A3 level (with positive outlook) and revising LHV Group’s ratings’ outlooks to positive from stable. This indicates LHV's strong financial position and capitalization as well as expresses the expectation of further strengthening of solidity. Moody's has assigned long-term issuer ratings to AS LHV Group: Long-term issuer rating Baa3Senior u