LHV UK starts issuing SME loans in the UK

LHV UK Limited is a subsidiary company of AS LHV Group. It was registered on 29 November 2022 in the Financial Conduct Authority’s financial services register and has been granted the right to issue SME loans in Great Britain. LHV UK's Board approved the beginning of loan activities on 19 December 2022. Small and medium-sized businesses (SMEs) will be eligible for commercial term loans beginning at 0.5 million pounds. These loans can be secured by commercial real property and other guarantees. The strong platform for loan activity was provided by the October acquisition of Bank North, based in Manchester. LHV UK's primary sales channel for business loans is the loan broker. Lending operations will be conducted in Manchester. However, in the future there is a plan to establish a London-based sales and customer service department. Because of the strong demand for loans, we are starting our loan activity right now. We have a faster loan process and loan managers who are experienced in local lending. We can now accelerate our UK plans by starting with business loans. LHV UK's current focus is on obtaining a bank licence. LHV UK's bank licence must be approved by Prudential Regulatory Authority (Financial Conduct Authority) LHV Group, Estonia's largest financial group and capital provider, is currently under review. The Group employs over 880 people. LHV's banking services were used by 374,000 clients as of November. The pension funds managed and maintained by LHV had 131,000 clients. LHV Kindlustus has 150,000 clients. Priitrum LHV Head Of Communications Phone: 502 786 E-mail EMAIL