Banks, Estonia, Financial Services, Investments
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Friday, 26.04.2024, 11:55
Profit of LHV totals EUR 2.3 mln in July
The profit belonging to the group's shareholders was 2.1 million euros, the
company told the stock exchange.
According to CEO of LHV Group Madis Toomsalu, the results in July
were good. "All principal indicators of business volumes have continued to
grow, this includes deposits, loans and funds," he said.
"Strong underlying trends and a favorable environment have ensured
good results, and the expansion of the ATM network during summer and our
constantly improving mobile bank have boosted momentum. Concurrently with
growth we are also improving our business efficiency and our cost to income
ratio is decreasing," he said.
"The credit quality of our portfolio remains good, we are keeping
closer track of specific customers. Near term we are focusing on investments in
perfecting customer experience and the pension funds have an emphasis on local
Estonian investments," Toomsalu said. "Based on the first seven
months of this year we are able to fulfill the financial plan," he added.
LHV Group employs 300
people and the banking services of the company are used by around 120,000
customers. The pension funds managed by LHV
have about 180,000 clients.