Hannes Kaadu to step down as Country Manager of OP Bank Estonia at the end of 2025
Hannes Kaadu, Country Manager of OP Bank Estonia, has announced his decision to step down from his role at the end of this year. By mutual agreement, he will continue to fulfill his current responsibilities until the end of 2025, ensuring a smooth transition until a new manager is appointed. His final working day will be December 31.
Kaadu has led OP Bank Estonia for the past 10 years. During this time, the company has grown into a strong and reliable player in the corporate banking market for large enterprises in Estonia. The bank’s loan and leasing portfolio has increased fivefold over the decade, business volumes have expanded significantly, and OP Estonia has risen to fourth place in the local corporate banking market. The team has evolved into a cohesive and professional unit, characterized by responsibility, collaboration, and a clear focus.
“The past ten years at OP Estonia have been incredibly meaningful. Together with our strong team, we’ve built something lasting and effective. I’m grateful for the opportunity to lead this team, but I feel that now is the right time to pass the baton,” Kaadu commented. “I want to take time to focus on my family and calmly consider what the next step might be.”
In the first half of 2025, OP Bank Estonia reported a pre-tax profit of €5.0 million. The total volume of contracts exceeds €1.5 billion, of which €0.86 billion comprises the loan and leasing portfolio.
Matias Huhtala, Head of Baltic Banking, expressed his gratitude for Kaadu’s long-standing and dedicated contribution to building OP Bank Estonia:
“Over the past decade, Hannes has played a central role in developing OP’s presence in Estonia. Under his leadership, the bank has significantly expanded its loan portfolio, strengthened its market position, and built a capable and trustworthy team. He has fulfilled his role with commitment and strategic clarity, guiding the bank to deliver personalized and thoughtful solutions to clients – even in areas where ready-made models didn’t exist. I sincerely wish Hannes success on his next journey and thank him for his outstanding work.”
A recruitment process to find the new Country Manager for Estonia will begin shortly. The bank will share further updates once the next steps are confirmed.