LHV Bank to shut customer offices in Tartu and Pärnu
Estonia's LHV Bank will close its customer service offices in Tartu and Pärnu from 31 October 2026, citing changing banking habits and fewer office visits. Three customer service positions will be eliminated as a result.
Estonian bank LHV has announced it will close its customer service offices in the cities of Tartu and Pärnu. The decision was made in August after lease agreements for both offices expired, and the closures will take effect from 31 October 2026.
In a stock exchange notice, LHV said the decision reflects clients' changing banking habits and a continuing drop in the number of people visiting its offices in person. More customers are turning to digital channels for banking services, and the bank has increased investment in developing these channels this year.
Staffing impact
Three customer service positions will be eliminated as a result of the closures. Around ten additional people work daily at the Pärnu office in other roles; they will keep their current jobs, but the office itself will close entirely.
Tartu will remain an important location for LHV, though the bank will reduce the amount of office space it holds there. That reduction also reflects plans for a new headquarters in Tallinn, due to open in 2028, which will bring more employees and teams together under one roof.
Financial results
LHV Group's cumulative net profit for 2026 reached €63.8 million by the end of August, falling €4.6 million short of its financial plan and down 19 percent year-on-year.
LHV Bank's own cumulative net profit stood at €61.3 million by the end of August, €5.7 million below its financial plan.
