Financial results
AS LHV Group’s business volumes and economic results*
| millions of euros | 2018* | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Deposit volume | 1 422 | 2 727 | 4 120 | 5 808 | 4 901 | 5 731 | 6 910 |
| Loan volume | 919 | 1 687 | 2 209 | 2 677 | 3 209 | 3 562 | 4 552 |
| Fund volume | 1 214 | 1 374 | 1 537 | 1 349 | 1 332 | 1 519 | 1 558 |
| Total assets | 1 677 | 3 032 | 4 971 | 6 845 | 6 135 | 7 093 | 8 736 |
| Net interest income | 39,8 | 47,3 | 68,5 | 97,3 | 129,1 | 253,8 | 273,3 |
| Net fee income | 26,0 | 25,7 | 33,3 | 42,6 | 44,7 | 48,8 | 60,3 |
| Net other income | 3,4 | 0,7 | 1,6 | -0,9 | -0,6 | 2,9 | 4,7 |
| Net income | 70,0 | 73,8 | 103,4 | 140,4 | 173,5 | 305,5 | 338,3 |
| Expenses | 33,8 | 39,3 | 44,0 | 65,2 | 89,6 | 129,4 | 146,9 |
| Operating profit | 36,2 | 34,6 | 59,6 | 75,2 | 83,9 | 176,1 | 191,4 |
| Impairment losses | 5,3 | 3,2 | 10,9 | 3,9 | 8,1 | 11,5 | 16,3 |
| Income tax expenses | 3,8 | 4,2 | 8,8 | 11,0 | 14,4 | 23,7 | 24,8 |
| Net profit | 27,2 | 27,1 | 39,8 | 60,3 | 61,4 | 140,9 | 150,3 |
| Profit attributable to owners of the parent | 25,2 | 24,8 | 38,0 | 58,3 | 59,8 | 139,6 | 149,0 |
*includes discontinued operations
Ratios
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Pre-tax (ROE) | 20,9% | 16,2% | 20,5% | 24,9% | 20,3% | 34,0% | 28,5% |
| Return on Equity (ROE) | 18,4% | 14,0% | 17,3% | 21,1% | 16,4% | 29,0% | 24,5% |
| Return on Assets (ROA) | 1,6% | 1,2% | 1,0% | 1,0% | 0,9% | 2,1% | 1,9% |
| Net Interest Margin (NIM) | 2,34% | 2,04% | 1,73% | 1,66% | 2,01% | 3,88% | 3,48% |
| Spread | 2,32% | 1,99% | 1,70% | 1,63% | 1,98% | 3,75% | 3,23% |
| Cost/Income ratio (C/I) | 48,3% | 53,2% | 42,5% | 46,4% | 51,7% | 43,3% | 43,4% |
| Equity Multiplier (EM) | 12,6 | 13,3 | 18,3 | 21,4 | 17,8 | 13,8 | 13,0 |
| Capital adequacy CET1 | 15,67% | 12,39% | 13,26% | 14,27% | 16,02% | 18,54% | 16,89% |
| Tier 1 Capital Adequacy | 15,67% | 13,88% | 15,56% | 16,08% | 18,43% | 20,70% | 17,96% |
| Capital Adequacy | 21,70% | 17,96% | 20,50% | 19,97% | 21,72% | 23,45% | 20,68% |
| MREL-TREA | N/A | N/A | N/A | 24,00% | 29,99% | 35,68% | 33,24% |
| MREL-LRE | N/A | N/A | N/A | 6,90% | 11,12% | 12,62% | 12,41% |
| Risk Cost Ratio | 0,63% | 0,25% | 0,56% | 0,16% | 0,27% | 0,34% | 0,40% |
| Liquidity Coverage Ratio (LCR) | 148,5% | 144,8% | 147,9% | 142,7% | 139,70% | 194,20% | 187,50% |