LHV Group raises EUR 35 mln

Tuesday 7 June 2022 13:01 CET | News

LHV Group, has raised EUR 35 million via an oversubscribed rights issue.

LHV Group will use the money to capitalise its UK bank, which is a key step in the banking licence application process. LHV Group is listed on the Nasdaq Baltic and is one of the largest domestic financial groups in Estonia.

LHV UK is pursuing a UK banking licence as part of LHV Group’s plans to separate the business operations of its retail bank, LHV Bank, from those of the London headquartered fintech focussed LHV UK. This move aims to simplify compliance with regulatory and supervisory requirements and enable LHV UK to highlight its value proposition and the profitability of its operations to new investors.

LHV UK’s banking licence is subject to regulatory approval by the Prudential Regulatory Authority and Financial Conduct Authority.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fintech, banks, funding, banking license, retail banking
Categories: Banking & Fintech
Companies: LHV Group
Countries: United Kingdom
This article is part of category

Banking & Fintech

LHV Group

Discover all the Company news on LHV Group and other articles related to LHV Group in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events