Structure and Governance
Holm Bank (Holm Bank AS), together with its subsidiary Holm Bank Latvia SIA, forms the Holm Group, whose principal area of activity is the financing of private and business clients. The Group provides credit services in the Estonian and Latvian markets, while deposits are raised in Estonia, Germany and Austria.
The sole owner and shareholder of Holm is OÜ Koduliising. The activities of the Group are governed by the Bank’s Management Board and Supervisory Board. The Management Board is accountable to the Supervisory Board and makes decisions related to the Company’s operational and tactical management. The Supervisory Board makes decisions concerning the Company’s long-term strategic direction.
Management Board
The Bank’s Management Board consists of three members with extensive experience in the financial sector, who are responsible for the Bank’s day-to-day management in accordance with the strategies and general principles approved by the Supervisory Board. The members of the Management Board are appointed by the Supervisory Board for a term of three years.
Members of the Management Board contribute to communicating the Bank’s core values and expectations to employees and, in cooperation with the Supervisory Board, promote, monitor and assess the risk culture. They also evaluate the impact of the risk culture on financial stability, the risk profile and sound governance, and make changes where necessary.
Kaspar Kalvet
Chief Executive Officer, Chairman of the Management Board
Kaspar has worked in the financial sector in senior management positions at banks of varying size and business models for over 20 years, with a significant part of this experience gained outside Estonia, including in Germany, Italy and Latvia. He is an experienced business and risk executive and has been responsible for both sales and all support functions. He joined Holm Bank as its Chief Executive Officer at the end of 2022.
Areas of responsibility: sales, finance, IT development, marketing and communications
Monika Tomberg
Chief Compliance & Legal Officer, Member of the Management Board
Monika has 20 years of experience in the financial sector and extensive experience in the legal field. She has previously led legal departments of credit and financial institutions and worked as a legal adviser to companies in the financial sector. She joined Holm Bank in the spring of 2022 and had been involved with the Bank as a legal adviser since its establishment.
Areas of responsibility: legal affairs, litigation and enforcement proceedings, data protection, credit administration, compliance and AML, human resources
Ivar Kallast
Chief Risk Officer, Member of the Management Board
Ivar has extensive experience in the banking sector. He has worked in the financial industry for more than three decades, with responsibility for risk management and credit risk, and has served as a member of management boards. He has been involved in developing risk rules and strategies and implementing them in practice. He joined Holm Bank in early 2026.
Areas of responsibility: risk management and analytics
Supervisory Board
The Bank’s Supervisory Board consists of five members. The Supervisory Board makes decisions on matters related to the Group’s long-term strategic direction and exercises oversight over the activities of the Management Board. Members of the Supervisory Board are appointed for a term of three years by the General Meeting of Shareholders. The members of the Supervisory Board elect a Chair from among themselves, who organises the work of the Supervisory Board.
Arne Veske, Chairman of the Supervisory Board
Arne has extensive experience as a senior executive in the financial sector and has been associated with Holm and its predecessor, Koduliising AS, for over 30 years. As Chairman of Holm Bank’s Supervisory Board, his focus is on matters related to the development of sales, marketing and customer service, as well as on shaping products, services and business relationships.
Kelly Veske
Kelly has been a member of the Management Board of Koduliising AS, the predecessor of Holm Bank, and therefore has a strong understanding of Holm’s business, products and customer profile. As a member of Holm Bank’s Supervisory Board, her focus is on matters related to human resources management, as well as customer service and customer relations.
Pärt Kivaste
Pärt has extensive experience in the banking sector, including nearly ten years at Hansapank. In recent years, he has been active in investment advisory services. As a financial sector expert and experienced executive, he supports the work of Holm Bank’s Supervisory Board with his knowledge of corporate governance and development, strategic planning, financial analysis and people management. His focus is on matters related to financial management, accounting, risk management and deposit raising.
Jüri Laur
Jüri has extensive management experience in the banking and fintech sectors. His professional background includes developing and managing payment services, as well as risk management and compliance matters. As a member of Holm Bank’s Supervisory Board, he primarily contributes to the development of products, services and processes, as well as to fraud prevention, IT management and security-related matters.
Reimo Hammerberg
Reimo has extensive and diverse experience in banking, finance and insurance law. He has practised in these fields at the law firm Sorainen. In addition, he has experience as a member of the supervisory boards of financial and credit institutions. As a member of Holm Bank’s Supervisory Board, his focus is on matters related to legal and compliance oversight.
Committees
To support the Management Board and the Supervisory Board in the performance of their duties, committees with different areas of responsibility have been established.
The activities of Holm Bank are governed by the following committees:
• Audit Committee, established by the Supervisory Board. Advises on matters related to accounting, auditing, internal control and internal audit, and also performs the functions of the Risk Committee
• Credit Committee, established by the Supervisory Board of the Bank. Operates in accordance with the principles approved by the Supervisory Board and is the competent body for making decisions related to the granting of credit.
• Remuneration Committee, established by the Supervisory Board. Acts as the competent body primarily overseeing the remuneration of senior management and employees, and assesses the implementation of the remuneration principles at least once a year.
• IT / Development Committee, established by the Management Board of the Bank. Assesses the Group’s development needs in the IT area and coordinates IT development priorities.
• Asset and Liability Management Committee (ALCO), established by the Management Board. The main task of this committee is to ensure adequate capitalisation and liquidity of the Group.
Based on the principle of proportionality, no separate Risk Committee or Nomination Committee has been established. The functions of the Nomination Committee are performed by the Supervisory Board, and the functions of the Risk Committee are performed by the Audit Committee.