LHV Pank reached 200,000 clients

6. January 2020

In December, more than 4200 new clients joined LHV Pank, which raised the number of the bank’s clients to over 200,000 for the very first time. In everyday banking, LHV has grown to become the third largest bank in Estonia.

According to Erki Kilu, Chairman of the Management Board of LHV Pank, LHV Pank grew quickly in 2019. ‘We are pleased that in the past year we were able to speak to the Estonian people with our services. We opened accounts for more than 40,000 new clients, and reached record levels in client activity and business volumes,’ said Kilu.

‘By the end of the year, LHV had attained a market share of nearly 10% in everyday banking, deposits, as well as corporate loans. This means that we have risen to become the third largest bank in Estonia in terms of everyday banking and deposits,’ added Kilu.

As at New Year’s Day a total of 202,000 clients are using the services of LHV Pank, which means that the number of clients grew by 25% in the past year. Approximately 150,000 of the Bank’s clients are private clients, and 52,000 are businesses. Last year also saw many young people join LHV. LHV now has more than 25,000 clients who are under the age of 26. On average, LHV’s clients make 42 payments per minute via the the mobile app or internet bank, and 39 payments per minute using a bank card.

‘The opportunity to open an account electronically, via the mobile app or the internet bank, has certainly contributed to the fact that more and more clients have opened an account with our bank. Recently, we also made it possible to open an electronic account for a child,’ Kilu commented.

Today marks the start of an advertising campaign in which LHV thanks all of its clients, since 200,000 clients is a significant milestone. At the Bank’s website lhv.ee/yourbank, we have provided interesting statistics about our clients, and everyone can check how many clients they share their first name with. LHV also brought joy with a gift to our 200,000th client, a young man who opened his account via an online channel on 15 December.

In 2019, LHV was again declared the bank with the best service in Estonia. International business magazines Euromoney and The Banker recognised LHV as the best bank in Estonia. Last year, Eesti Pank designated LHV Bank as the fourth bank serving as a provider of vital services in Estonia.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs more than 430 people. LHV’s banking services are used by nearly 202,000 clients, and pension funds managed by LHV have nearly 177,000 active clients.

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