Best bank 2025: LHV Pank
LHV Pank has distinguished itself as Estonia’s premier banking institution by achieving significant growth and influence within the sector.
It now holds the position of the third largest bank in Estonia, boasting nearly a 20% market share across daily banking, deposits and business loans. In 2024, LHV Pank expanded its customer base by 9%, adding 38,000 new clients to reach a total of 456,000. This growth is mirrored in its loan portfolio, which saw an 18% increase to €4.2 billion. Especially noteworthy is the surge in customer deposits, climbing by 14% to reach €6.29 billion, with a notable 37% increase in deposits from financial intermediaries to €1.35 billion.
LHV Pank has also excelled in executing its strategic goals, particularly in expanding its corporate and retail loans by 21% each. Its digital platform saw significant enhancements, including the rollout of biometric authentication and real-time notifications to enhance fraud detection, helping to streamline the user experience substantially. By migrating core banking services to a cloud-based infrastructure, LHV has succeeded in reducing IT maintenance costs while enhancing system reliability.
In addition, LHV Pank has set benchmarks in service excellence, demonstrated by its superb customer service ratings and its status as the most desirable employer in Estonia, as awarded by CV Keskus and Instar.
Product innovation is another strong area, with the introduction of popular new offerings such as savings accounts which attracted 32,000 clients with over €100 million in savings. The bank also introduced a successful home loan refinancing campaign, capturing over €160 million in home loans.
Supporting sustainable finance, LHV Pank has actively financed green initiatives, including eco-friendly home loans and vehicle leases for electric and hybrid models, further underlining its dedication to sustainability through its role as lead manager in Eesti Energia’s €400 million green hybrid bond issuance. This extensive range of achievements vividly illustrates why LHV Pank is a deserving winner of the award as Estonia’s best bank.
