LHV Pank goes live with LHV.AI as Q3 profit reaches EUR 37.5 million

AS LHV Pank launched LHV.AI in the third quarter of 2026. The Estonian bank said the service provides a secure foundation for scaling artificial intelligence and for next-generation services for its customers. Mihkel Torim, CEO of LHV Group, said LHV.AI lets customers connect their bank account to AI tools.

The bank also launched Moneyplan, a feature that gives customers an overview of their saving habits and supports them in building regular saving. Torim said the product gives customers an overview of their spending and saving, and that the positive reception of these new products shows the group is moving in the right direction.

In September, LHV Pank decided to close its customer offices in Tartu and Pärnu because of customers' changing banking habits and the continued decline in visits to physical offices. The bank continues to invest in digital service channels, through which all main banking services are available. At group level, IT costs rose 12% from the previous quarter to EUR 5.3 million.

The product launches came with unaudited results in which AS LHV Group generated consolidated net profit of EUR 37.5 million in Q3 2026, 52% more than in the previous quarter and 43% more than a year earlier. Return on equity attributable to the shareholders of the group was 19.3%. LHV Pank earned a net profit of EUR 33.7 million. The number of LHV Pank customers increased by nearly 9,000 during the quarter to 517,000, while the group's customer base reached 723,000.

Torim called the third quarter LHV's strongest of the year. Group net interest income amounted to EUR 68.8 million, 24% more than a year earlier, and total operating expenses remained at EUR 43.4 million, the level of the previous quarter. A net release of loan impairments of EUR 8.9 million was recognised in the quarter, mainly from LHV Pank and largely related to the release of a provision for one larger client.