What is LHV Bank?
LHV Bank has been holding the credit institution license that allows it to provide all banking services since 6 May 2009. LHV is a bank based on Estonian capital that was founded in 1999 and operates in Estonia, Latvia and Lithuania. Almost thirty-five thousand clients are using the services of LHV Bank. LHV was founded in 1999 by two of the founders of Hansabank – Andres Viisemann and Rain Lõhmus. More than 60 people currently work in the companies of the LHV Group. Promoting investments and an economical way of life and developing the awareness and skills of people in the area of investments have been one of the missions of LHV. LHV has been organising seminars to educate investors since 2001. They have tuned into a series of seminars called Investment School where several different subjects are discussed. The virtual stock game "Börsihai" was launched in 2000. It has become an investment game with thousands of participants in all Baltic States. The biggest Estonian source of financial news, financial portal lhv.ee/portal, gives free information about investments to everyone who is interested. LHV issues the economics and investment magazine Investeeri! four times a year.
Brief history of LHV
| 1999 | LHV is founded |
| 2000 | The financial portal lhvdirect.com (the current financial portal at the address www.lhv.ee) and the first investment account are opened The first stock game starts (currently known as Börsihai). |
| 2001 | Investment product Growth Account starts, the first LHV investment seminars are held |
| 2002 | LHV Pension Funds start |
| 2003 | Trading environment Trader Account starts |
| 2004 | LHV headquarters move into City Plaza at Tartu mnt. 2, Tallinn The business name of LHV is changed: LHV Direct becomes AS Lõhmus, Haavel & Viisemann |
| 2005 | Seesam pension funds are taken over, Stock game moves to Latvia and Lithuania Investment product Child Account starts |
| 2006 | LHV and GILD Bankers divide into two separate companies |
| 2007 | Start of personal advisory services and Balti Pro LHV investment funds LHV World Equity Fund and LHV Emerging Europe Alpha Fund are created The logo is changed: AS Lõhmus, Haavel & Viisemann becomes LHV |
| 2008 | LHV Persian Gulf Fund is created Erki Kilu becomes the Chairman of the Management Board of LHV |
| 2009 | Share capital is increased to 100 million kroons, Hannes Tamjärv and Heldur Meerits are elected members of the bank’s Supervisory Board LHV receives its banking license, AS Lõhmus, Haavel & Viiseman becomes AS LHV Pank |
The protection scheme of the Deposit Guarantee Sectoral Fund offered by the Guarantee Fund as stipulated in the Guarantee Fund Act applies to the clients of LHV Bank. The assets of LHV clients are fully protected through three measures – the LHV internal control system, the LHV equity capital and the national investor protection system. LHV has years of experience in managing the assets of its clients and the risks associated therewith. LHV has created an efficient internal control system whose functioning is regularly checked by the Internal Auditor who reports to the Supervisory Board of LHV and the Compliance Officer and Risk Analyst who report to the Management Board.
