We advised Holm Bank, as successor to Koduliising AS ‒ which was one of the largest consumer credit providers in Estonia ‒ in obtaining a credit institution licence. Holm Bank is the first credit institution in Estonia to receive a licence from the European Central Bank under the new European Union Single Supervision Mechanism framework. Holm Bank will offer its clients primarily lending and deposit services.

Family business

Says Kaido Veske, chair of the Holm Bank supervisory board: “Holm Bank, formerly Koduliising, is a family business. It was led by Arne Veske for a long time, and from 2012 my sister Kelly Veske has been responsible for development. As a family business, we are able to take a calmer, long-term strategic approach.’.

Explains Indrek Julge, chair of the Holm Bank management board: “Until now we have offered mainly consumer credit and have grown rapidly. Becoming a bank was the next logical step in the development of the company.”

Our services and project team

We assisted Holm Bank throughout the licensing process, including drafting internal rules, guidelines and other necessary documentation, advising in fit & proper proceedings for the managers of Holm Bank, advised in qualified holding proceedings, advised in discussions with and in relation to other issues related to the Estonian Financial Supervision Authority.

The project team consisted of partner Reimo Hammerberg, senior associate Jane Eespõld and associate Anneli Krunks.