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    LHVST   EE3100073644

AS LHV GROUP

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AS LHV : LHV Pank became a direct member of the European Direct Debit Scheme

11/25/2021 | 11:10am EST

25.11.2021

LHV became a direct member of the European Direct Debit Scheme, which means that LHV will be able to accept and send out direct debit collections in euro between all banks in the SEPA region that have joined the Scheme.

However, the change does not mean anything new for LHV retail customers at the moment. In Estonia, the e-invoicing service continues to be used instead of direct debits.

At the moment, LHV Bank is also the only direct member of the scheme of direct debits from Estonian banks and therefore, in the future, it will be the clients who make euro payments abroad that will benefit from the direct debits system, for example when making regular payments to international service providers. This new service can be opened to the LHV clients in 2022.

A direct debit is an agreement between the beneficiary and the payer, according to which the payer's bank makes a transfer from the customer's account to the beneficiary on an agreed date. In Estonia, direct debits were a rather common way of paying invoices until 2014, when direct debits were replaced by e-invoices.

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Disclaimer

LHV Group AS published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 16:09:04 UTC.


© Publicnow 2021
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Financials
Sales 2020 92,6 M 105 M 105 M
Net income 2020 38,0 M 43,0 M 43,0 M
Net cash 2020 2 100 M 2 382 M 2 382 M
P/E ratio 2020 15,1x
Yield 2020 1,49%
Capitalization 1 259 M 1 428 M 1 427 M
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Managers and Directors
Madis Toomsalu Chief Executive Officer & Director
Meelis Paakspuu Chief Financial Officer
Rain Lõhmus Chairman-Supervisory Board
Tiina Mõis Member-Supervisory Board
Raivo Hein Member-Supervisory Board