Latest news with #LHVGroup
Yahoo
5 days ago
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LHV Group Elects Mihkel Torim as New CEO
The Supervisory Board of AS LHV Group has elected Mihkel Torim as Chairman of the Management Board and CEO of LHV Group. He currently serves as Head of Investment Banking at LHV Bank. Torim will assume the role on 22 July 2025, succeeding Madis Toomsalu, who announced his intention to step down earlier this year after serving as CEO since 2016. Mihkel Torim is a seasoned leader in capital markets and investment banking, with over 20 years of experience across financial institutions in the Baltics and Northern Europe. He joined LHV in early 2023 to lead the bank's investment banking operations. Prior to that, he held senior positions at Swedbank, including as Head of Baltic Investment Banking and Manager of the Finnish investment banking unit. As Chairman of the LHV Group's Management Board, Torim has also been elected to the Supervisory Board of AS LHV Pank as of 22 July. Whether the new board member meets the eligibility requirements will also be approved bv the ECB. Conjointly, he is expected to join the Supervisory Boards of the Group's other key subsidiaries: LHV Kindlustus, and LHV Varahaldus, as well as the Board of Directors of LHV Bank Ltd. Torim holds a bachelor's degree in finance from Audentes University and has completed various professional development programs. He currently serves on the Management Board of Fortima OÜ. While he does not presently hold shares in LHV Group, he has been granted options to subscribe for a total of 199,575 shares issued in 2023 and 2024. Rain Lõhmus, Chairman of the Supervisory Board of LHV Group, commented:"Mihkel has proven himself through dedication and results. His high agency and commitment to continuous learning make him well-suited to steer LHV into its next stage of development. His investment banking background gives him a sharp understanding of where and how value is created. As LHV prepares for significant technological transformation, these qualities are essential.I would also like to thank Madis Toomsalu, who has been instrumental in shaping LHV into the strong financial group it is today." Mihkel Torim commented:"I take on this new challenge knowing that LHV is very well managed. Together, our team is well-positioned to deliver on LHV's vision to become the most trusted and forward-thinking financial group. My priority will be set on growing the value of the company. We are committed to innovation, operational excellence, and long-term growth —underpinned by a vigilant, client-first culture." Besides Mihkel Torim, the Management Board of LHV Group also includes Meelis Paakspuu, Kadri Haldre and Jüri Heero. LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at the end of April, LHV's banking services are being used by 468,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized RumCommunications ManagerPhone: +372 502 0786Email: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
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Mihkel Kasepuu to Join Management Board of LHV Pank
The Supervisory Board of AS LHV Pank, subsidiary of AS LHV Group, has elected Mihkel Kasepuu as a Member of the Management Board, with responsibility for technology and product development. Whether the new board member meets the eligibility requirements will also be approved bv the ECB. Kasepuu will assume his new position on 22, July for a five-year term. Mihkel Kasepuu has served as LHV Pank's Chief Technology Officer and Chief Technology and Product Officer since 2024. Previously, he worked at Nortal from 2015 to 2023. At LHV, he has played a key role in building scalable, secure systems and driving product innovation. His expertise will be central to advancing the bank's digital capabilities. Kasepuu holds a master's degree in IT from Taltech. He is a shareholder and a management board member in several small IT consultancy and software development companies Panda Solutions OÜ, SM Capital OÜ, and Futuleap OÜ. Kasepuu owns 10 ordinary shares in AS LHV Group and holds options to subscribe for 79,733 shares for options issued in 2024. Rain Lõhmus, Chairman of the Supervisory Board of LHV Group, commented:"Mihkel Kasepuu's appointment to the Management Board of LHV Pank supports our ambition to become more technology and product driven. As role of engineers and engineering is growing, so shall their representation at Board. Mihkel shall lead LHV's strategic direction focused on consistently shipping intelligent, desirable, and user-friendly products by leveraging machine learning and rapidly evolving technologies. Mihkel is known for his top-level engineering mindset, and high agency. In a short time at LHV he has already demonstrated his ability to deliver acceleration in infrastructure platform change and ability to energize product organization. Keep going." Comment from Mihkel Kasepuu: "While we've made strong progress in recent years — implementing our cloud strategy, automating processes, and modernising our banking system — a lot of interesting challenges still lie ahead. Our goal is for LHV's product and technology to represent world-class product-led engineering, capable of competing with the best globally. That ensures our solutions are sustainable and deliver security, speed, and convenience for our customers. We have a proud, skilled and motivated team, ready to take bold steps forward." In addition to Mihkel Kasepuu, the Management Board of LHV Pank includes: Kadri Kiisel (Chief Executive Officer), Meelis Paakspuu (Chief Financial Officer), Kadri Haldre (Chief Risk Officer), Jüri Heero (Chief Information Officer), Annika Goroško (Head of Retail Banking), and Indrek Nuume (Head of Corporate Banking). LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at the end of April, LHV's banking services are being used by 468,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized RumCommunications ManagerPhone: +372 502 0786Email: Sign in to access your portfolio
Yahoo
16-05-2025
- Business
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LHV Group's own share acquisition transactions
AS LHV Group announces that on 13 May 2025, it has acquired the company's own shares on the Nasdaq Tallinn Stock Exchange as follows: Date Aggregated volume Weighted average price per day (EUR) 13.05.2025 19,627 3.565197LHV Group is acquiring its own shares based on the resolution of the company's general meeting of shareholders held on 26 March 2025, and under the conditions decided by the Supervisory Board. The authorized agent for the transactions is AS LHV Pank. Summary data of the acquisitions will be disclosed no later than on the seventh trading day after the transaction and will be made available to the Financial Supervision and Resolution Authority, via the Nasdaq Tallinn system, and on LHV Group's investor website. LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at the end of April, LHV's banking services are being used by 468,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized RumCommunications ManagerPhone: +372 502 0786Email: in to access your portfolio
Yahoo
13-05-2025
- Business
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LHV Group results in April 2025
April was a month of excellent results and strong deposit growth for LHV. The consolidated loan portfolio of LHV Group grew by EUR 77 million, and the total amount of deposits increased by EUR 727 million in April. The volume of funds managed by LHV decreased by EUR 4 million over the month. Payments related to financial intermediaries amounted to 6.5 million in April. AS LHV Group earned EUR 10.8 million in net profit in April. By subsidiary, AS LHV Pank earned a net profit of EUR 10.1 million, LHV Bank Ltd EUR 83 thousand, AS LHV Kindlustus EUR 319 thousand and AS LHV Varahaldus EUR 68 thousand. The return on equity attributable to the shareholders of LHV Group was 19.1% and the financial plan remains. The number of customers in LHV Pank increased by 2,800 in April. While the loan portfolio of the bank grew by EUR 53 million, the volume of deposits increased by EUR 574 million – strong growth compensated for the downturn of the previous quarter. EUR 41 million of the increase in deposits came from retail customers and EUR 212 million from corporate customers (partially temporary deposits). In addition, platform deposits were increased by EUR 120 million. The decrease in interest income continued in April due to the decline in Euribor. The level of credit quality was good, and in the coming months there may be an opportunity for a reduction in impairments. In April, Moody's Ratings raised the ratings of LHV Pank's covered bond programme and covered bond ratings to the highest Aaa level. In the annual survey organised by CV-Online, LHV has been recognised as one of the leading employers in the financial sector for the fifth consecutive year. In the overall top-of-mind assessment, LHV ranked second. The business volumes of LHV Bank operating in the United Kingdom continued to grow rapidly. The loan portfolio increased by EUR 24 million and the volume of deposits from the platforms increased by EUR 130 million over the month. Conditions are set for the upcoming direct raising of deposits. In April, the bank's profit was impacted by the larger marketing expense for the soon-to-be-launched campaign for retail banking. In April, the equity capital of LHV Bank was increased by EUR 12 million and subordinated bonds were issued in the same amount. LHV Kindlustus signed new insurance contracts in the amount of EUR 3.7 million in April. Claims paid totalled EUR 2.1 million and 12,800 new claims were registered. The loss ratio of major insurance products remained at good level, ensuring good profitability for LHV Kindlustus. The profitability of LHV Varahaldus met the financial plan. The month was characterised by a tense time on the stock markets, while the pension funds managed by LHV were able to maintain their value. The larger funds, L and XL, declined by 0.4% and 0.3% respectively over the month, but have delivered year-to-date returns of 3.4% and 4.1%. Index funds performed more weakly, with LHV Pensionifond Indeks falling by 4.1% during the month. In April, AS LHV Group issued EUR 50 million worth of Tier 1 capital, which ensures sufficient capitalisation for the company's growth and allowed the repurchase of AT1 bonds issued five years prior. Moody's Investors Service reviewed LHV Group's credit ratings at the end of the month, leaving them unchanged. LHV Group's long-term issuer rating is Baa3 with a positive outlook. To access the reports of AS LHV Group, please visit the website at LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at the end of April, LHV's banking services are being used by 468,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized RumCommunications ManagerPhone: +372 502 0786Email: Attachment LHV Group 2025-04-ENError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-04-2025
- Business
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LHV Group's Terms for Own Shares Acquisition
The Supervisory Board of AS LHV Group, based on the authorisation granted by the General Meeting of shareholders held on 26 March 2025, approved the following terms for the acquisition of LHV Group's own shares: The maximum volume of acquisition is up to 3.3 million shares within one year; The acquisition price per share must not exceed: (i) the average market price over the last 30 trading days by more than 50%, and (ii) the closing price on the previous trading day on Nasdaq Tallinn; The authorised agent for the transactions is AS LHV Pank, acting independently and on a market-based basis; All transactions, including shareholder-initiated block trades, will be executed on the regulated market Nasdaq Tallinn; The acquisition may commence on the date of this announcement; Summary data (daily volume and weighted average price) will be disclosed no later than on the seventh trading day after the transaction, and be made available to the Estonian Financial Supervision and Resolution Authority, via the Nasdaq Tallinn system, and on LHV Group's investor website. LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,160 people. As at the end of March, LHV's banking services are being used by 465,000 clients, the pension funds managed by LHV have 113,000 active customers, and LHV Kindlustus is protecting a total of 174,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized Rum Communications Manager Phone: +372 502 0786 Email:
