LHV Bank to Close Branches in Tartu and Pärnu
Estonian bank LHV will close its branches in Tartu and Pärnu from October 31, 2026, citing changing customer habits and declining branch visits. Three customer-service positions will be eliminated as a result.
Estonian bank LHV has announced it will close its branches in Tartu and Pärnu starting October 31, 2026. The bank explains the decision by pointing to customers' growing preference for electronic banking channels and a continuing decline in branch foot traffic.
Scope of the closures
The Pärnu branch will be shut down entirely, while at the Tartu branch some staff will continue working, but in a reduced office space. In total, three customer-service positions will be cut as a result of the closures.
Financial results
LHV Group's net profit for January–August of this year reached 63.8 million euros, which is 4.6 million euros below the financial plan. Compared to the same period last year, net profit fell by 19%.
