On 3 October 2020 Danske Bank A/S and the Estonian bank AS LHV Pank completed the transaction by which LHV acquired Danske Bank’s unit involved with Estonian corporate and public sector credits.
The acquired unit essentially consists of the credit portfolio of Estonian corporate customers and public sector.
As a result of this transaction, terms of the credit agreements remain unchanged, but from 3 October 2020, general terms and conditions and pricelist of LHV apply to the transferred agreements.
Affected customers were informed about the transfer procedures in a separate notice.
LHV has opened a personal account for payments, related to customers‘ credit agreements that are transferred from Danske Bank to LHV. From 3 October 2020, customers must use these accounts for the performance of payment obligations arising from the transferred agreements.
Credit servicing accounts in Danske Bank will remain open until 30 October 2020. However, all payments made before this date will be will automatically be transferred to customers‘ new personal accounts in LHV. After this date, all payments made to credit servicing accounts in Danske Bank will be returned to the payer.
Danske eBank will be available to customers until 3 November 2020.
Transfer of collateral
All existing collaterals to loan, guarantee/guarantee limit or leasing agreements and all collateral agreements were transferred or will be transferred to LHV and will remain in force under their existing terms and conditions and will secure the obligations arising from the transferred agreements.
Customers do not have to do anything in relation to the transfer of collateral or pay any expenses related thereto.
Change of leased assets registration certificates
From 3 Octover 2020, LHV becomes the lessor and the owner of leased vehicles. For this reason, LHV will be included in the relevant register (e.g. the traffic register of the Estonian Road Administration) and the registration certificates of vehicles in question will be replaced.
New registration certificates will be issued and delivered to the main user of the leased asset by regular post, at the address known to the Estonian Road Administration.
The insurance policy of the collateral or the objects of the lease agreement remain valid until the expiry date of the policy, keeping their terms.
Insurance companies will be informed of the change of beneficiary, hence customers do not need to take any action.
In case of questions, please contact LHV, Customer Support of Financing +372 699 9111 (Mon-Fri: 9:00-17:00) or firstname.lastname@example.org.