Structure and management

Holm Bank (Holm Bank AS) together with its subsidiary Holm Bank Latvia SIA form the Holm Group, the main field of activity of which is financing private and business clients. The Group provides credit services on the Estonian and Latvian markets, deposits are being solicited in Estonia, Germany and Austria.

The sole owner and shareholder of Holm is OÜ Koduliising. The Group's activities are managed by the Bank's Management Board and Supervisory Board. The Management Board is accountable to the Supervisory Board and makes decisions related to the operational and tactical management of the company. The Supervisory Board makes decisions on the long-term strategic management of the company.

Structure and management

Management Board

The Management Board of the Bank consists of three members who are responsible for the daily management of the Group pursuant to the strategies and general principles approved by the Supervisory Board. Management board members are appointed by the supervisory board for three years.

Management Board helps to promote, monitor, and assess the risk culture of the group on an ongoing basis, consider the impact of the risk culture on the financial stability, risk profile, and robust governance, and make changes, where necessary.

Kaspar Kalvet

CEO, Chairman of the Board

Kaspar has worked in various positions within the financial sector for nearly 20 years, spanning different business models and sizes of banks, with a significant portion of his experience gained outside of Estonia in Germany, Italy, and Latvia. He is an experienced business leader and risk manager, having been responsible for both sales and all support functions within a bank. He commenced his role as CEO of Holm Bank at the end of 2022.

Kaspar Kalvet

Monika Tomberg

Head of Legal Department

Monika has over 15 years of experience in the financial sector and extensive expertise in the legal field. Previously, she has led legal departments at credit and financing institutions and worked as a legal advisor for financial sector companies. She joined Holm in the spring of 2022 but has been involved as a legal advisor since the establishment of the bank.

Monika Tomberg

Arvi Lipp


Arvi is a highly experienced leader with over 30 years in the banking sector. Throughout his career, he has successfully led risk departments in various credit institutions and held several other senior positions, including roles in credit, risk management, and customer relations. Arvi joined Holm Bank in the summer of 2021.

Arvi Lipp

Supervisory Board

The Supervisory Board of the Bank consists of five members who are responsible for strategic decisions and the oversight of the activities of the Management Board. The Supervisory Board members are appointed for three years by the General meeting of the shareholders. The members of the Supervisory Board elect a Chairman among themselves who organises the work of the Supervisory Board.

Arne Veske, Chairman of the Supervisory Board

Arne has long-term experience as a manager in the finance sector, having been associated with Holm Bank, including its predecessor Koduliising AS, for approximately 25 years. Arne Veske established and developed the company, which is currently a very successful bank. As a Chairman of the Supervisory Board, he is responsible for Holm Bank’s sales, marketing, customer service and relations, products and services areas.

Kelly Veske

Kelly has been a member of the Management Board of Holm Bank (and its predecessor Koduliising AS) for many years and therefore knows Holm Bank's business, products and customers. She is a responsible Supervisory Board member for Holm Bank’s personnel management area, customer service and relations.

Pärt Kivaste

Pärt has almost 10 years of banking experience from Hansapank, and for the last years he has been successfully engaged in investment consulting. As an expert and experienced manager in financial sector he is supporting Holm Bank with his expertise in general company management and development, strategic planning, financial analysis and leading people. In Supervisory Board he is responsible for the financial management, accounting, risk management and inclusion deposits.

Ruslan Mahhov

Ruslan has diverse experience from various credit institutions. He is financial manager and advisor or the founder of various FinTech and Start-Up companies. As Holm Bank’s Supervisory Board member, he is mainly responsible for the following areas: products and services, risk management, credit management and ICT.

Reimo Hammerberg

Reimo has long-term and versatile experience in banking, finance and insurance law having practiced in these fields since 2001 in law firm Sorainen. In addition, Reimo Hammerberg has previous experience in the position of a member of the supervisory board of financial and credit institutions. As Holm Bank’s Supervisory Board member, he is mainly responsible for the legal and compliance area.


To assist the Management Board and Supervisory Board in performing their duties, committees with different areas of responsibility are established.

Audit Committee, formed by the Supervisory Board and acts as an advisory body in respect to accounting, audit, internal controls, and internal audit topics, as well as fulfils the tasks of the Risk Committee.

Credit Committee, formed by the Supervisory Board and acting as per guidelines approved by the Supervisory Board, is a competent decision-making body in regard to taking credit decisions. Remuneration Committee, formed by the Supervisory

Board, is a competent body that mainly monitors the remuneration of managers and employees and evaluates the implementation of the remuneration principles at least once a year.

IT Development Committee (IT Council), formed by the Management Board, evaluates the Group’s IT related development needs and coordinates IT development priorities.

Assets and Liabilities Committee (ALCO), formed by the Management Board. The main task of this committee is to ensure that the Group has sufficient capital and liquidity.

Proportionally to the nature, extent, and the level of complexity of the Group, there are no Risk Committee and Nomination Committee established in the Group. The tasks and the roles of the Risk Committee are executed by the Audit Committee and those of the Nomination Committee are executed by the Supervisory Board.

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