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.
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