COBALT advises LHV Bank on entering the Finnish market

The fast growing Estonian bank LHV now offers cross-border banking and savings services to Finnish clients in addition to Latvian and Lithuanian customers. Professionals of COBALT’ banking and finance, capital markets competence group advised LHV on its expansion to the Finnish banking market.

Partner Priit Pahapill and junior associate Indrek Minka advised LHV on the purchase of loan portfolio owned by Finnish consumer credit firm Luottotalo Fenno which enabled LHV to gain a position in the market. The transaction resulted in takeover of the loan agreements of 12,500 borrowers totalling 13.6 mio EUR. LHV also now manages the staff of Fenno and the office situated in Helsinki.