Holm Bank Entered the German and Austrian Deposit Markets


Holm Bank concluded a cooperation agreement with the leading European deposit marketplace Raisin and begun offering fixed-term deposits to German and Austrian clients.

According to Rauno Klettenberg, the CEO of Holm Bank, the bank wanted to make taking deposits more flexible and reduce its dependence on the Estonian market.

‘At the moment, we have sufficient capital from local deposits, but we wish to make our capital base more varied and be sure that we would be able to quickly respond to increasing loan volumes. This is why we concluded a contract with the deposits marketplace Raisin, through which we can quickly involve capital with a very competitive deposit interest also from the big markets of Western Europe,’ explained Rauno Klettenberg, the CEO of Holm Bank.

According to Klettenberg, depositing at Holm Bank will be an attractive solution for German and Austrian clients.

‘Estonia and Holm Bank have a very good rating at the Raisin marketplace, which means that the depositors trust us. We offer our German and Austrian depositors a deposit interest that is somewhat lower than the Estonian level,’ Klettenberg added.

According to him, a campaign organised by the bank which offered a 2.5% interest rate in Estonia on all term deposits, the highest interest rate on the market, ended in October. From now on, deposit rates will be differentiated by time periods. Holm Bank still offers a 2.5% interest rate on long-term deposits, while the interest rates on deposits with shorter deposit periods will be somewhat lower, but remain significantly higher than those offered by the major banks in Estonia.

‘We are very glad that thousands of depositors across Estonia joined us during the campaign. Domestic customers who appreciate personal service are and will continue to be the centre of our business. The deposits taken from foreign markets via Raisin will be more of an additional option for funding the rapidly growing volume of loans,’ said the CEO of Holm Bank.

Holm Bank is a family-run bank based in Haapsalu and founded on Estonian capital. Its predecessor Koduliising AS has offered hire purchase under the Liisi brand for 23 years, has 1,100 partners with more than 2,000 points of sale, and has had over 350,000 clients over the years.