Holm Bank, an Estonian-owned bank, has reached a new high with its consolidated net loan portfolio, which increased by 3.3% over the quarter to €163 million. By the end of September, Holm Bank’s consolidated assets amounted to €206 million.
"Despite a challenging external environment, Holm successfully expanded its business volumes and pursued its strategic growth plan in the third quarter," commented Kaspar Kalvet, CEO of Holm Bank. "We observed growth in both Estonian and Latvian markets, with particularly strong gains in Estonia this quarter. Loan volumes expanded across all key segments, while our loan portfolio quality remained robust. We see strong potential for continued growth ahead," added Mr. Kalvet.
Holm generated total net income of €4.6 million in Q3 2024, an 11% increase from the same quarter last year. The group’s consolidated operating expenses amounted to €3.8 million in Q3, reflecting a 15% rise compared to Q3 2023.
For the first nine months of 2024, Holm Bank’s consolidated net income totalled €14.5 million, marking a 30% increase year-on-year, while total operating expenses reached €11.7 million, a 27% rise. The group reported consolidated net profits of €2.5 million for the first nine months, 29% higher than the previous year.
"In addition to offering attractive loan products, Holm Bank is committed to providing customers with the market's best fixed-term deposit conditions," explained Mr. Kalvet. "The appeal of this product continues to grow, and by placing their savings in fixed-term deposits, customers can generate significantly higher returns compared to demand deposits," he added.
Holm Bank AS
Posti 30, 90504 Haapsalu
Commercial Register code
14080830
