LHV Group AS

11/25/2019 | Press release | Distributed by Public on 11/25/2019 05:22

Loans of existing Danske Bank clients were transferred to LHV Pank

25. November 2019

On 23 November, LHV Pank and Danske Bank finalised the transaction, as a result of which nearly 10,000 private loans were moved to LHV Pank. Although the transfer was made as easy for the clients as possible, there are still some important nuances to consider in the future.

As of today, Danske Bank has delivered all the concluded and valid loan contracts to LHV Pank. Also, the clients were sent initial instructions with a more detailed explanation about the changes. The transfer mainly concerns home loan agreements. The loan portfolio delivered to LHV also contained a small number of consumer loans, leases and student loans.

'We are delighted to welcome all new clients at LHV Pank,' said Kadri Kiisel, the head of Retail Banking at LHV. 'We have informed all the clients of the change, however in the near term we will contact the new clients and explain how the loans are to be served, where to make loan payments, from where to get information and what possibilities LHV offers. We hope that the changes will be smooth for the clients.'

We have made the transition as convenient as possible for the clients. Yet, it must be observed that in the future, every client must make their loan payments to their personal account at LHV Pank, which LHV has opened for each loan client. Also, all requested changes in contracts related to the transaction should be referred to LHV from now on. After the transfer, the fees according to the LHV Pank price list, will apply to the loan clients.

'Although all loans were transferred automatically for the clients, and there is no need to renew the loan agreements or worry about mortgages, I strongly urge all clients to consider concluding LHV's client agreement. Also, salary payments should be transferred to LHV. This enables even more seamless business and gives access to the mobile app of the Estonian bank with the best services as well as to the Internet bank, favourable settlements and other everyday banking services. A client agreement can also be taken out in LHV Internet Bank or mobile app and it only takes a couple of minutes,' Kadri Kiisel explained.

The entire information concerning the transfer of loan agreements has been gathered on the page lhv.ee/en/danske.

In the case of questions, the clients can get assistance from LHV's private loan customer support at [email protected].

In addition to clients, Danske Bank and LHV Pank will inform all the related borrowers, co-applicants, providers of surety, known collateral owners, cooperation partners and the related insurance firms of the changes. The mortgages of the loans will be registered soon in the name of LHV and no further costs will be incurred by clients in connection with this. For lease agreements, the lessor and owner of the lease object will now be LHV Pank.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 420 people. LHV's banking services are used by more than 192,000 clients, and pension funds managed by LHV have more than 176,000 active clients.

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