LHV Group's results for January 2026 were characterised by higher profitability and growth in business volumes.
The consolidated loan portfolio of LHV Group increased by EUR 51 million over the month, reaching EUR 5.52 billion. Total deposits decreased by EUR 214 million to EUR 7.92 billion. The volume of funds managed by LHV increased by EUR 13 million to EUR 1.72 billion. In January, 8.7 million payments related to financial intermediaries were processed.
AS LHV Group earned a consolidated net profit of EUR 7.2 million in January. Of the subsidiaries, AS LHV Pank earned EUR 7.6 million, LHV Bank Ltd EUR 0.7 million, AS LHV Varahaldus EUR 0.4 million in profit, and AS LHV Kindlustus recorded a net loss of EUR 0.4 million. The return on equity attributable to shareholders was 11.4% in January.
LHV Group's net income for January was EUR 0.5 million below the financial plan, while net profit exceeded the financial forecast by EUR 0.4 million. The loan portfolio was broadly in line with the financial plan. Deposits exceeded the financial forecast by EUR 244 million.
LHV Pank
The number of customers of LHV Pank increased by 3,200 in January, reaching a total of 495 thousand customers. Loan volumes grew by EUR 24 million and the total loan portfolio reached EUR 4.71 billion. The retail loan portfolio increased by EUR 16 million, while the corporate loan portfolio grew by EUR 8 million. The overall quality of the loan portfolio remains strong. Loan impairments amounted to EUR 0.3 million in January. Deposits decreased less than expected by EUR 259 million during the month, reaching EUR 6.71 billion at the end of January. Demand deposits decreased by EUR 230 million and term deposits by EUR 29 million. Net profit for January exceeded the financial plan by EUR 0.3 million.
LHV Bank
LHV Bank, operating in the United Kingdom, delivered solid growth in business volumes in January. The loan portfolio increased by EUR 26 million, reaching EUR 809 million at the end of the month. Loans approved by the credit committee but not yet disbursed amounted to EUR 125 million. Deposits increased by EUR 26 million month-on-month, reaching a total of EUR 1.31 billion. In January, customer base increased by 600. Net profit exceeded the financial plan by EUR 0.2 million.
LHV Varahaldus
The year has started strongly for LHV Varahaldus. The larger funds, Julge and Ettevõtlik, increased by 4.7% and 3.0% during the month, respectively. The funds Tasakaalukas and Rahulik delivered returns of 1.8% and 1.1%, respectively. LHV Pensionifond Indeks increased by 3.0% in January. Net profit for January exceeded the financial plan by EUR 0.2 million.
LHV Kindlustus
In January, LHV Kindlustus concluded new insurance contracts totalling EUR 7.1 million. As at the end of January, approximately 306,000 insurance contracts were in force. Claims were paid in the amount of EUR 3 million during the month and 11,500 new claims were registered. Adverse weather conditions increased the net loss ratio to 86.5%. The net expense ratio was 25.8%. A sales campaign supported strong results in motor own damage and motor third-party liability insurance. Overall, LHV Kindlustus' result for January was EUR 0.6 million below the financial plan.
The reports of AS LHV Group are available at: https://investor.lhv.ee/en/reports/
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 approximately 1,200 people. The services of LHV Pank are being used by 495,000 customers, the II pillar pension funds managed by LHV have 105,000 active customers and LHV Kindlustus protects a total of 233,000 customers. 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 enterprises.
Investor relations
Sten Hans Jakobsoo
Head of Investor Relations and Corporate Development
Email: stenhans.jakobsoo@lhv.ee
Media and communications
Paul Pihlak
Head of Communications
Email: paul.pihlak@lhv.ee
