LHV Group (LHV1T) Q3 2026 earnings summary

Executive summary

• Q3 net profit was €37.5m, up 52% QoQ and 43% YoY; attributable profit was €37.1m and EPS €0.11.

• Q3 net revenue was €80.1m, up 1% QoQ and 10% YoY, supported by stronger net interest and fee income.

• Q3 impairment income was €8.9m, including reversal of a provision on a resolved large corporate loan.

• Nine-month net profit was €81.9m, down 5% YoY but €3.6m ahead of plan; management said the plan remained achievable.

Financial highlights

• Q3 net interest income was €68.8m, up 10% QoQ and 24% YoY; net fee income was €16.8m, up 15% QoQ and 10% YoY.

• Q3 operating expenses were €43.4m, flat QoQ and up 12% YoY; nine-month expenses rose 14% to €132.6m.

• Nine-month net interest income rose 9% YoY to €190.6m, net fee income rose 3% to €46.1m, and total net revenue reached €232.8m.

• Loans grew 14% YoY to €5.95bn and deposits 4% to €7.74bn; QoQ growth was 3% and 2%, respectively.

• Nine-month credit impairments produced €1.8m net releases, versus €3.2m net charges in the prior-year period.

Outlook and guidance

• Nine-month profit exceeded plan by €3.6m; management cited stronger macro and business fundamentals than assumed in the plan and confidence in achieving its targets.

• NIM rose to 2.8% in Q3, with further moderate improvement expected in coming quarters.

• Higher base rates and loan growth supported net interest income ahead of plan; net fee and other income remained below plan, partly due to market-value revaluations.

• UK banking’s year-end loan target of £1bn requires ~£118m net growth in Q4; priorities include controlled growth, credit management, funding efficiency and expense discipline.