Banks, Estonia, Financial Services, Loan

3.3 million euros of the nine-month net profits were earned by LHV Bank, 2.4 million euros by LHV Varahaldus, the asset management subsidiary, and the Lithuanian subsidiary earned 0.5 million euros.

The group’s third-quarter net earnings amounted to 2.4 million euros (1.6 million euros in the second quarter). Consolidated net revenue generated by LHV Group in the third quarter amounted to 8.9 million euros – nine per cent more than in the second quarter, while spending had fallen by five per cent in the quarter-on-quarter comparison, to 5.2 million euros.

CEO of LHV Group Erkki Raasuke said that the momentum achieved by the enterprise in the first half of 2014 continued in the third quarter. “Our stable business environment and active clients have helped us achieve solid results. Outlooks for the coming months are quite encouraging,” he added.