AS INDEXO Bank continued its rapid loan portfolio expansion in August, issuing €7.8 million in new loans during the month, the majority of which were mortgage refinancing. By the end of August, the bank’s loan portfolio had reached €26 million – an increase of 38% compared to the end of July. 

By the end of August, INDEXO Bank’s customer base had grown to 42.1 thousand, which is 2,200 more than at the end of July. The volume of deposits at the end of July stood at €52.4 million, and customers received €94.6 thousand in interest payments during the month. 

“When INDEXO Bank was founded, we saw the passivity of competitors in lending as a major opportunity. Today, we see proof that this was indeed the case – over the past two months, we’ve more than doubled the volume of loans issued and are processing new loan applications from customers every day. This confirms the validity of our strategy, and we see that as our customer base and deposit volume grow, our overall banking operations – especially lending – are accelerating. There is still unmet demand for lending services in Latvia, and we will continue to actively seek ways to offer suitable solutions,” says Jānis Mūrnieks, Member of the Management Board of INDEXO Bank and Head of Development for the Retail Banking Segment. 
 

Meanwhile, the pension management company IPAS INDEXO had nearly 145 thousand pension clients at the end of July, with assets under management exceeding €1.4 billion. 

About INDEXO   

INDEXO is a financial services group that includes pension management companies and INDEXO Bank.          

INDEXO, an investment management company licensed by the Bank of Latvia, offers modern 2nd and 3rd pillar pension plans in Latvia. It is one of the fastest-growing pension managers in the Baltics, with almost 145 thousand customers and more than EUR 1.4 billion assets under management.               

INDEXO Bank, a credit institution licensed by the European Central Bank, serves over 42 thousand clients, with total client funds amounting to EUR 52.4 million and EUR 26 million in issued consumer loans.             

Founded and headquartered in Latvia, INDEXO is a Nasdaq Riga-listed company with around 7,000 shareholders. Its mission is to fight for a better financial environment in Latvia and strengthen the well-being of Latvian residents by providing modern and personalized financial services.      

For more information visit www.indexo.lv.  

Contact information:
Ieva Bauma
INDEXO Head of Marketing and Communications
E: ieva.bauma@indexo.lv
P: +371 28 636 789