Estonia: LHV to buy Danske loan portfolio

Estonian bank LHV is set to acquire Danske Bank’s private customer loan portfolio, for around EUR 410 million. In February, Danske was ordered to close its doors by the Finanical Supervisory Authority (FSA), ending months of speculation following revelations that as much as EUR 200 billion in potentially illicit funds had passed through the bank…

Estonia: economy growing in Q1 2019

According to information released by Statistics Estonia, GDP grew by 4.5% YoY in the first quarter of 2019. The seasonally and working day adjusted GDP grew by 0.5% compared with the previous quarter and by 4.6% compared with the first quarter of 2018. Economic growth was driven by manufacturing. The last time that manufacturing had…

Estonia: construction volumes up in Q1 2019

According to the information released by Statistics Estonia, in the first quarter of 2019, the total production of Estonian construction businesses in Estonia and foreign countries increased by 2% YoY. Overall construction volumes increased due to work done abroad, as construction volumes on the Estonian market decreased. In the first quarter of 2019, the production…

Estonia: unemployment rate down in Q1 2019

According to the information published by Statistics Estonia on May 15, in the first quarter of 2019, the labor force participation rate in Estonia was 70.8%, the employment rate 67.5% and the unemployment rate 4.7%. While the labor force participation rate and employment rate remained steady, the unemployment rate decreased by 2.1% YoY. In the…

Estonia: Operail profit up in Q1 2019

According to the consolidated interim report, the first quarter of 2019 has brought the international logistics and transport company AS Operail a net profit of EUR 2.6 million, which is twice as much as their net profit in the first quarter of 2018. Operail CEO Raul Toomsalu said that the main source of their profit…