The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Private banking 2012: LHV – Estonia

"Our money is not different from our competitors’. It’s how clients are handled which makes a difference," says Indrek Nuume, head of private and business banking and a member of the management board at LHV.

Unlike their global counterparts, "our clients come to us and know that we are not a universal bank offering boundless products. And we don’t proclaim to be successful in all aspects of private banking," Nuume says.

"Clients will turn to the company that can offer the best service. This is a great opportunity for smaller banks like LHV, which prides itself on customer service."

But LHV doesn’t claim to have found its footing completely. "We are trying to find our spirit level," says Nuume. "We are not solely a private bank but neither can we cater for everything, in fear of being overstretched. We are still young and we are still finding our identity in Estonia and in Europe."

Founded in 1999, LHV Bank was an investment bank. It gained its commercial banking status in 2009. "Before 2009 we were strictly a private bank, focusing on equity management, but getting our commercial banking licence and broadening our services helped us during turbulent economic times," says Nuume.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree