LHV Pank (originally Lõhmus, Haavel & Viisemann) is an Estonian

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

ing and

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

company headquartered in

Tallinn Tallinn () is the most populous and capital city of Estonia. Situated on a bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, Tallinn has a population of 437,811 (as of 2022) and administratively lies in the Harju ' ...

. It is a subsidiary of AS LHV Group, a public company listed on the Nasdaq

Tallinn Stock Exchange The Nasdaq Tallinn AS, formerly known as the Tallinn Stock Exchange, is a stock exchange operating in Tallinn, Estonia. Nasdaq Tallinn is the only regulated secondary securities market in Estonia. The major stock market index is Nasdaq Tallinn, fo ...

. The bank's clients include private individuals, small and medium-sized companies and institutional investors. LHV Pank is the third largest bank in Estonia. LHV has branch offices in

Tartu Tartu is the second largest city in Estonia after the Northern European country's political and financial capital, Tallinn. Tartu has a population of 91,407 (as of 2021). It is southeast of Tallinn and 245 kilometres (152 miles) northeast of ...

and

Pärnu Pärnu () is the fourth largest city in Estonia. Situated in southwest Estonia, Pärnu is located south of the Estonian capital, Tallinn, and west of Estonia's second largest city, Tartu. The city sits off the coast of Pärnu Bay, an inlet o ...

. LHV Pank employs over 800 people. More than 350 000 clients use the bank's services. LHV Pank is one of the largest brokers on

NASDAQ OMX Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, an ...

Baltic stock exchanges and the largest broker for Baltic retail investors in international markets. LHV Pank was fully

cash In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-imm ...

-free—operating only with electronic transfers and

card payment Card or The Card may refer to: * Various types of plastic cards: **By type ***Magnetic stripe card ***Chip card ***Digital card **By function ***Payment card ****Credit card ****Debit card **** EC-card **** Identity card **** European Health Insura ...

s—until August 2015, when they opened their first ten

Automated teller machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fun ...

(nine in Tallinn and one in Tartu). LHV Pank has been identified as a partner in the virtual

e-residency of Estonia e-Residency of Estonia (also called virtual residency or E-residency) is a program launched by Estonia on 1 December 2014. The program allows non-Estonians access to Estonian services such as company formation, banking, payment processing, and t ...

program, enabling e-residents to open a bank account in Estonia. 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.

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 Riga (; lv, Rīga , liv, Rīgõ) is the capital and largest city of Latvia and is home to 605,802 inhabitants which is a third of Latvia's population. The city lies on the Gulf of Riga at the mouth of the Daugava river where it meets the Ba ...

* LHV pension funds created * 2003 LHV Trader trading environment launched * 2004 Head office moved to City Plaza * 2005 Branch opened in

Vilnius Vilnius ( , ; see also other names) is the capital and largest city of Lithuania, with a population of 592,389 (according to the state register) or 625,107 (according to the municipality of Vilnius). The population of Vilnius's functional urb ...

* Stock Exchange Shark expanded to

Latvia Latvia ( or ; lv, Latvija ; ltg, Latveja; liv, Leţmō), officially the Republic of Latvia ( lv, Latvijas Republika, links=no, ltg, Latvejas Republika, links=no, liv, Leţmō Vabāmō, links=no), is a country in the Baltic region of ...

and

Lithuania Lithuania (; lt, Lietuva ), officially the Republic of Lithuania ( lt, Lietuvos Respublika, links=no ), is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea. 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 first 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 Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...

and branch opened in

Helsinki Helsinki ( or ; ; sv, Helsingfors, ) is the Capital city, capital, primate city, primate, and List of cities and towns in Finland, most populous city of Finland. Located on the shore of the Gulf of Finland, it is the seat of the region of U ...

* Branch opened in

* 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 * 2021 the bank announced that it will not finance the purchase of new diesel passenger cars after 2030.

References

{{Reflist , refs= {{cite web , url=http://www.lhv.ee/images/files/docs/LHV_annual_report_2013_EN.pdf , publisher=LHV Pank , title=Consolidated Annual Report 2013

External links

Bank Profile: LHV Pank
Banks of Estonia Estonian brands Companies listed on Nasdaq Tallinn Companies based in Tallinn Banks established in 1999 1999 establishments in Estonia