Banks, Estonia, Financial Services, Investments, Loan

The group's bank earned 1.9 million euros, asset management 1.3 million euros and the Lithuanian business unit 0.5 million euros. LHV Group's return on equity was 16%.

LHV Group Head Erkki Raasuke said that for the company, the good momentum of the start of 2014 continues. "While the general economic activity is rather modest, we have managed to grow business volumes according to our earlier expectations. This growth improves efficiency and increases profits, "said Erkki Raasuke.

LHV Group's second quarter net profit was 1.6 million euros (1.7 million euros in the first quarter), of which the bank earned 1.0 million euros (0.9), asset management 0.8 million (0.5) and Lithuanian business unit 0.1 million (0.4).

In the second quarter, the LHV Group consolidated net income was 8 million euros, compared to the previous quarter, it was 8% higher. Expenses increased by 6% to 5.5 million. Loan volume discounts were 0.9 million.

LHV Group deposits grew by 0.4% in the quarter to 362 million euros, and loans volume by 9% to 256 million euros. Investment fund assets increased by 9% to 467 million euros.