Lhv Group As · OMXTSE:LHV1T
Lhv Group As — Q3 2025 Earnings Presentation
22 slides from Lhv Group As's earnings presentation, Oct 21, 2025
Slide 1: LHV Group Q3 results
LHV Group Q3 results 21 October 2025
Slide 2: Strong growth in business volumes
Strong growth in business volumes Change compared to previous quarter LHV voted best bank in Estonia by Euromoney ↑5% ↑1% ↑7% Future and current professionals view +236 EURm +84 EURm +1.4 mln LHV as the most attractive employer according to Instar survey LOANS DEPOSITS banking services’ excl. bankin
Slide 3: Record business volumes
LHV Group Record business volumes • Number of customers increased by 65,000; customer activity at good level • Loan portfolio increased by 236 EURm. Portfolio quality remains strong and improved during the quarter, despite increased specific impairments for selected customers • Deposits from custome
Slide 4: LHV Group – comparison with financial plan
LHV Group – comparison with financial plan Slight shortfall compared to financial plan • Revenues are slightly below plan, while expenses have exceeded it. Interest income reflect negative time flag, as asset yields have declined faster than liability costs • Loan, payment and deposit volumes ahead
Slide 5: LHV Pank: Business volumes continue to grow
LHV Pank Business volumes continue to grow EURm Loans (net) • Number of bank customers 5,000 +17% 4,574 increased by 9,200. Customer 3,904 activity in payments and card usage 3,750 is good 2,500 • Loans increased by 145 EURm 1,250 • Deposits increased by 79 EURm, of 0 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q
Slide 6: LHV Pank: Profitability is driven by interest rates
LHV Pank Profitability is driven by interest rates • Income base remains well diversified. Interest income dynamics on the liabilities being key driver. More term deposits than planned • Customer activity remains high • Loan portfolio quality remains strong, and impairments are related to few specif
Slide 7: LHV Pank – comparison with financial plan
LHV Pank – comparison with financial plan Slightly higher volumes, weaker profitability • Declining interest rates reduced interest income, as asset-side yields are decreasing faster than liabilities-side costs. By the end of quarter, yields on interest-bearing assets aligned with market rates • Sha
Slide 8: LHV Bank: Loan-to-deposit ratio significantly more optimal level
LHV Bank Loan-to-deposit ratio significantly more optimal level Loans (net) EURm • Main focus is on improving loan-to- 800 deposit ratio through loan growth and 660 deposit reduction 600 +196% • Loan portfolio increased by 91 400 EURm. Loans approved by Credit 223 200 Committee but not yet disbursed
Slide 9: LHV Bank: Retail banking development to reduce funding cost
LHV Bank Retail banking development to reduce funding cost • Apple Pay and push notifications were added. Direct debits and additional deposit products are planned for launch next quarter • Following the introduction of new products, plans include making deposit pricing more attractive and launching
Slide 10: LHV Bank – comparison with financial plan
LHV Bank – comparison with financial plan Business volumes and profitability exceeded financial plan • To support rapid loan portfolio growth, share capital was increased by 12 EURm • 9-month net profit amounted to 3.3 EURm, exceeding financial plan by 0.8 EURm 10
Slide 11: LHV Kindlustus: Declining sales volumes
LHV Kindlustus Declining sales volumes Contract premiums written EURm • Q3 sales fell short of financial plan. 12 +18% 10.6 Across the market, insurance 8.9 premium volumes declined 9 significantly compared to the same 6 quarter last year 3 • Quarterly sales increased by 1.7 EURm year-on-year. Stron
Slide 12: LHV Kindlustus: Stable financial results
LHV Kindlustus Stable financial results • Net earned premiums and claims paid remained largely unchanged quarter-on-quarter. Gross sales volumes decreased by approximately 1 EURm • Number of active policies and customers continued to grow steadily • Net loss ratio increased quarter-over- quarter, wh
Slide 13: LHV Kindlustus – comparison with financial plan
LHV Kindlustus – comparison with financial plan Monthly sales targets met • Insurance contracts signed in September amounted to 3.1 EURm • Claims paid totalled 2.3 EURm, with 11,900 new claims registered • As of the end of September, number of active insurance contracts stood at 289,000. Portfolio g
Slide 14: LHV Varahaldus: Strong quarter for both markets and LHV pension funds
LHV Varahaldus Strong quarter for both markets and LHV pension funds customers (th.) EURm Assets under management and number of customers • Assets under management was over 2,000 +6% 1,620 240 1.6 EURb by end of quarter 1,521 1,500 205 • After weaker first half year, equity 1,000 170 markets deliver
Slide 15: LHV Varahaldus: Quarterly net profit 0.8 EURm
LHV Varahaldus Quarterly net profit 0.8 EURm • Operating income and expenses remained broadly in line with previous quarter. Profitability was positively affected by financial income resulting from fund performance • Volume of Pillar II pension funds was affected by withdrawals in the beginning of S
Slide 16: LHV Varahaldus – comparison with financial plan
LHV Varahaldus – comparison with financial plan Net profit largely in line with plan • Minimal shortfall after Q3, financial plan holds • Expectations for customer numbers and consequently fund volumes, are higher in the final quarter of year, with focus on more effective sales • From September, cha
Slide 17: LHV Group YTD 2025 vs YE 2024
LHV Group YTD 2025 vs YE 2024 ↑15% ↑8% +682 EURm +4.4 mln ↑6% LOANS ↑ 13% banking services’ ↑4% PAYMENTS +27,200 +701 EURm +61.5 EURm BANK CUSTOMERS DEPOSITS FUNDS excl. banking services YTD 2025 YTD 2025 86 EURm 19.7% NET PROFIT PRE-TAX ROE 17
Slide 18: Risks and capitalisation
Risks and capitalisation
Slide 19: LHV Group Capitalisation
LHV Group Capitalisation Capital ratios and minimum requirements as of September 2025 • LHV Group well-capitalised and all 40% 35.50% capital targets have been met with solid buffer. An on-site ECB audit is 30% currently underway, focusing on 22.72% capital adequacy 19.10% 20% 17.18% • Largest capit
Slide 20: LHV Group Liquidity and funding
LHV Group Liquidity and funding EURm Structure of liabilities • Liquidity remains strong, with a 10,000 8,793 7,181 loans-to-deposits ratio of 70% 7,500 • Liquidity coverage ratio (LCR) 180% 5,000 2,500 • Net Stable Funding Ratio (NSFR) remains very high - at 153%. Both 0 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2
Slide 21: LHV Group Loan portfolio quality
LHV Group Loan portfolio quality Loan portfolio by stages (gross) EURm • Loan portfolio is well diversified 6,000 5,280 2.8% across sectors 4,500 2.1% 1.7% • Overall portfolio quality remains 3,000 1.4% strong, although the cost of risk and 1,500 0.7% the share of Stage 3 loans remains high. Loans h
Slide 22: Mihkel Torim, LHV Group CEO; Meelis Paakspuu, CFO
Mihkel Torim LHV Group CEO mihkel.torim@lhv.ee Meelis Paakspuu LHV Group CFO meelis.paakspuu@lhv.ee AS LHV GROUP TARTU MNT 2, TALLINN 6 800 400 GROUP@LHV.EE LHV.EE