The largest Estonian-owned bank, LHV, has opened its first ATM cash machines in Tallinn and Tartu.
The majority of the cash machines are located in the capital, with one also in Tartu. The bank said it is now a full-service bank, and is aiming to become the third biggest bank in Estonia, after Swedbank and SEB.
Cash withdrawal of up to 10,000 euros each month will be free for private and business clients. All cash deposits through the machines will be free. Withdrawing cash from other banks' ATMs will still cost LHV clients 1 euro for each transaction.
LHV reported profits of 8.1 million euros in the first half of the year, earning 9.7 million for the whole of 2014 and 4.3 million euros in 2013. By contrast, Swedbank earned 156 and SEB 75 million euros last year. Danske reported 23 million euros in profits in 2014.
Editor: J.M. Laats