Holm's Rapid Growth Leads to Record Results

Holm Bank continued its rapid growth in 2024, achieving the highest volumes in its history for both loan and deposit portfolios by the end of December.

By the end of the year, Holm's loan portfolio reached €170.4 million, growing by over 22% year-on-year. The fastest growth was seen in the Estonian market at the end of the year, with increases in loans issued to both businesses and individuals.

The volume of deposits reached €190.6 million by the end of the year, growing by nearly 23% compared to 2023. The bank's consolidated total assets reached €226.5 million at the end of 2024, with a net profit of €3.0 million.

According to Kaspar Kalvet, Chairman of the Management Board of Holm Bank, the results confirm the bank's strong financial position. "2024 was the most successful year in our history. All strategic goals were met – we significantly grew both loan and deposit portfolios, profitability increased, and capital and liquidity positions were strong throughout the year. We introduced products that meet modern needs, which were positively received by customers. Both customer and employee satisfaction indicators showed strong levels," Kalvet lists.

"The trust in our bank was also demonstrated by Holm's first public bond issue in the spring of 2024, which was highly successful among both private and institutional investors – the base volume of the issue was oversubscribed by 6.3 times," says the head of Holm.

"Although the external environment may remain weak for some time, success can be achieved with a strong plan and team. The dynamic economic environment in Estonia and Latvia continues to offer opportunities for active people and companies to develop and implement new plans. The abundance and success of such plans determine the long-term development and economic growth rate of our home markets," explains Kalvet, confirming that Holm is optimistic about 2025. "We will continue to support our clients in implementing their good plans and will continue to pursue a strategy focused on rapid growth and sustainability."