LHV Pank

LHV Pank (originally Lõhmus, Haavel & Viisemann) is an Estonian banking and financial services company headquartered in Tallinn. The bank's clients include private individuals, small and medium-sized companies and institutional investors. LHV Pank is the fourth largest bank in Estonia.[1] LHV has branch offices in Tallinn, and Tartu. LHV Pank employs over 500 people. More than 250 000 clients use the bank's services. LHV Pank is one of the largest brokers on NASDAQ OMX Baltic stock exchanges and the largest broker for Baltic retail investors in international markets.[2]

LHV Pank
TypePublic company
Nasdaq Baltic: LHV1T
IndustryBanking, Financial services
Founded1999
HeadquartersTallinn, Estonia
Key people
  • Erki Kilu Chairman of the Management Board
  • Andres Kitter Member of the Management Board / Head of Retail Banking
  • Indrek Nuume Member of the Management Board / Head of Private and Business Banking
  • Jüri Heero Member of the Management Board / Head of IT
  • Martin Lengi Member of the Management Board of LHV Bank / Chief Financial Officer
  • Martti Singi Member of the Management Board / Chief Risk Officer
ProductsRetail, commercial and private banking
EUR 5.74 mln (+125.16%)(2014)
Total assetsEUR 540.05 mln (+34.91%)(2014)
Number of employees
400 (2019)
Websitewww.lhv.ee/en/
LHV Pank's ATM installed at Kristiine Centre in August 2015.

LHV Pank was fully cash-free—operating only with electronic transfers and card payments—until August 2015, when they opened their first ten Automated teller machine (nine in Tallinn and one in Tartu).[3][4][5]

LHV Pank has been identified as a partner in the virtual e-residency of Estonia program, enabling e-residents to open a bank account in Estonia.[6]

Starting November 2018, the bank decided to charge all non-residents and their controlled companies (which includes e-residents and their companies) €10 in case of EU/EEA residents or €20 of others monthly, citing the need for extra financial and anti-laundering control.[7]

History
  • 1999 Investment firm AS Lõhmus, Haavel & Viisemann founded on February 9
  • 2000 lhvdirect.com (today's Financial Portal) and the first investment account opened
  • The first equity game (today's Stock Exchange Shark) started
  • 2001 The first investment seminars organised
  • 2002 Branch opened in Riga
  • LHV pension funds created
  • 2003 LHV Trader trading environment launched
  • 2004 Head office moved to City Plaza
  • 2005 Branch opened in Vilnius
  • Stock Exchange Shark expanded to Latvia and Lithuania
  • 2006 Corporate consultations unit separated
  • 2007 The new LHV logo was introduced instead of Lõhmus, Haavel & Viisemann
  • Publication of the Investeeri! magazine started
  • LHV World Equities Fund created
  • 2008 Client Services opened on the ground floor of City Plaza
  • LHV Persian Gulf Fund created
  • 2009 Banking license granted on 6 May and new business name AS LHV Pank introduced
  • Deposits and commercial loans launched
  • 2010 Settlement services launched and new account numbers introduced
  • Loan portfolio purchased in Finland and branch opened in Helsinki
  • Branch opened in Tartu
  • 2011 New Internet Bank opened
  • Issue of bankcards started
  • New client service centre opened in Tallinn
  • 2012 LHV Bank named the Baltic Market Member of the Year
  • Launch of LHV Partner Credit Card in cooperation with Tallinna Kaubamaja
  • Provision of leasing products started
  • 2013 Founded LHV Finance and started offering hire purchase
  • Introduced multiple account card and the new Partner Bank Card
  • Launch of the mobile bank app
  • 2014 Launch of Au-client service and gold card
  • Started card payment acquiring service
  • LHV Bank chosen as the 8th most valued employer in Estonia
  • 2015 Sold Finnish unsecured loan portfolio

References
  1. Major Banks of Estonia
  2. "Consolidated Annual Report 2013" (PDF). LHV Pank.
  3. J.M. Laats (24 August 2015). "LHV opens first ATMs". Eesti Rahvusringhääling.
  4. "LHV hakkab sularahaautomaate paigaldama". Postimees/BNS. 17 August 2015.
  5. Kadri Hansalu (24 August 2015). "LHV oli sunnitud looma oma sularahaautomaatide võrgu". Postimees.
  6. The Ultimate Guide to Estonian E-residency, Banking, and Taxes. Nomad Gate.
  7. "LHV Pank Pricelist". 1 November 2018.
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