The consolidated net profit of listed Estonian financial group AS LHV Group totalled €13.5 million in July, marking a 2.6-fold increase over the profit of €5.3 million earned in July 2022, BNS, a Baltic newswire, reported on August 15.

The group's banking arm AS LHV Pank generated a net profit of €11.9 million, the UK business unit LHV Bank Limited €1.4 million, asset management arm AS LHV Varahaldus €400,000, and insurer AS LHV Kindlustus €100,000. The group's return on equity was 32.6%, LHV told the stock exchange. 

The consolidated deposits of AS LHV Group increased by €130 million in July. In the context of rising interest rates, the share of fixed-term deposits increased by €170 million, while demand deposits decreased by €40 million. Deposits from regular clients increased by €73 million, deposits from a deposit platform were raised in the amount of €27 million, and deposits from financial intermediaries increased by €30 million.

The group's consolidated loan portfolio increased by €28 million. Retail loans increased by €12 million and loans to companies by €16 million. The volume of funds managed by LHV increased by €31 million in July. During the month, 4.1 million payments from financial intermediary clients were processed.

The number of LHV bank clients increased by 3,500 in July, and the number of settling clients increased by the same amount. The bank's business volumes, revenues, and expenses are ahead of plan, BNS said.