LHV Group

Earnings Release • Dec 16, 2025

LHV Group results in November 2025

LHV Group results in November 2025

LHV Group's November results were marked by higher profit and increased business
volumes. The consolidated loan portfolio of LHV Group increased by EUR 94
million in the monthly comparison to EUR 5.38 billion. Deposits increased by EUR
155 million to EUR 7.66 billion. The volume of the funds managed by LHV
increased by EUR 14 million to EUR 1.67 billion. Payments related to financial
intermediaries amounted to 7.5 million in November.

In November, AS LHV Group earned EUR 11.9 million in consolidated net profit.
Among subsidiaries, AS LHV Pank earned EUR 11.4 million, LHV Bank Ltd EUR 0.9
million, AS LHV Varahaldus EUR 0.2 million, and AS LHV Kindlustus EUR 0.04m. In
November, the return on equity attributable to the shareholders was 19.3%.

The number of LHV Pank customers increased by 2,875 in November, reaching a
total of 489,000 customers. Loan volume increased by EUR 40 million and the
volume of the loan portfolio reached EUR 4.65 billion. The loan portfolio of
private individuals increased by EUR 22 million, while the corporate loan
portfolio increased by EUR 18 million. The quality of the loan portfolio remains
strong. In November, impairments on LHV Pank's loans and bonds decreased by EUR
3.7 million compared with the previous month. Deposit volume increased by EUR
35 million, reaching EUR 6.64 billion. Demand deposits fell by EUR 37 million,
while term deposits rose by EUR 71 million.

LHV Bank in the United Kingdom recorded strong business growth in November. Loan
volumes increased by EUR 55 million and the loan portfolio reached EUR 728
million as at the end of November. Loans approved by the credit committee but
not yet disbursed amounted to EUR 144 million. Deposits increased by EUR 119
million month-on-month and total deposits amounted to EUR 1.20 billion. During
the month, new Easy Access deposits were added to the mobile bank and a broader
marketing and communications campaign was launched to expand the retail customer
base.

November was calmer in financial markets compared with October, which was
reflected in LHV funds' performance. The largest funds of LHV Varahaldus,
Ettevõtlik and Julge, increased by 0.6% and 0.3%, respectively, over the month.
The return of the funds Tasakaalukas and Rahulik was 0.4% in both cases. LHV
Pensionifond Indeks rose 0.9% over the month. Sales have been somewhat more
modest than expected, with the volume of funds and operating income slightly
behind the plan as a result. Over the past 12 months, the best-performing
pension funds are LHV's actively managed funds.

In November, LHV Kindlustus concluded new insurance contracts in the amount of
EUR 3.3 million. As at the end of November, there were approximately 298,000
insurance contracts in force. Loss events were reimbursed in the amount of EUR
2.3 million and 12,700 new loss events were recorded. The net expense ratio in
November was higher than usual, reaching 30.7%. This was primarily due to
additional costs associated with the sales campaign. However, the campaign
positively impacted results, supporting strong growth in both motor own damage
insurance and motor third party liability insurance sales.

LHV Group's net income for the current year so far remains below the financial
plan by EUR 8.7 million, i.e. 3%. In terms of net profit, the result of the
current year is below the financial plan by EUR 5.9 million, i.e. 5%. As at the
end of November, the loan portfolio exceeds the financial plan by EUR 114
million and the volume of deposits by EUR 168 million.

To access the reports of AS LHV Group, please visit the website at
https://investor.lhv.ee/en/reports/
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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.
As at the end of November, the banking services of LHV Pank are being used by
489,000 customers, the pension funds managed by LHV have 106,000 active
customers, and LHV Kindlustus protects a total of 230,000 customers. LHV Bank, a
subsidiary of the Group, holds a banking licence in the UK and provides banking
services to international financial technology companies, as well as loans to
small and medium-sized enterprises and retail banking services.

Investor relations
Sten Hans Jakobsoo
Head of Investor Relations & Corporate Development
E-mail: [email protected] (mailto:[email protected])

Media and Communication
Paul Pihlak
Head of Communications
E-mail: [email protected]
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