LHV Bank to close customer offices in Tartu and Pärnu
LHV will close its customer offices in Tartu and Pärnu, citing changing banking habits and a continued decline in office visits.
In a stock exchange notice, LHV explained that due to the expiration of lease agreements for the Tartu and Pärnu customer offices, LHV Bank decided in August to close both offices starting 31 October 2026.
The decision is based on clients' changing banking habits and the ongoing decrease in office visits. LHV's services are increasingly used through digital channels, and the bank has further increased investments in developing them this year.
As a result of the change, three customer service positions will be eliminated. In addition to customer service staff, around ten people work daily at the Pärnu office in other roles; they will continue in their current positions, but the office will be fully closed.
Tartu will remain an important workplace for LHV, but the bank will reduce its office space there. The reduction also takes into account the new headquarters set to open in Tallinn in 2028, which will allow more employees and teams to be brought together in one location.
LHV Group's cumulative net profit for 2026 reached €63.8 million by the end of August, falling €4.6 million short of the financial plan. Year‑on‑year, net profit was 19 percent lower.
LHV Bank's cumulative net profit reached €61.3 million by the end of August, falling €5.7 million short of the financial plan.
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Editor: Urmet Kook, Argo Ideon
