At the end of November, AS INDEXO Bank reached its highest total loan portfolio to date – €50.5 million, issuing new loans worth €6.3 million during the last month. Market transaction statistics show that since August this year, 70% of all refinanced mortgage loans in Latvia have been refinanced at INDEXO Bank.

By the end of November, INDEXO Bank had 47,800 clients, which is 1,500 more than at the end of October. The clients deposit volume reached €68 million, and clients received €119,200 in interest payments during the month. 

“We see that INDEXO Bank is gradually becoming a significant player in the Latvian lending market. At the beginning of the year, INDEXO Bank’s loan portfolio was only €1 million, by the end of May it was €10 million, and now we have surpassed the €50 million mark. Moreover, we only started offering mortgage refinancing in May, but in recent months we have already become the largest mortgage refinancing provider. In the consumer lending segment, the bank has achieved approximately 10% of the monthly market share for newly issued consumer loans, excluding non-bank lenders. The bank was established with the goal of stimulating lending in Latvia, and we will continue to do so,” says Jānis Mūrnieks, Member of the Management Board of INDEXO Bank and Head of Retail Services. 

Meanwhile, the INDEXO Group’s pension management companies, which include IPAS INDEXO, AS INDEXO Atklātais Pensiju Fonds, and IPAS VAIRO, had more than 158,000 clients at the end of November, with assets under management exceeding €1.55 billion.

About INDEXO Financial Services Group      

INDEXO is a financial services group that includes pension management companies IPAS INDEXO, AS INDEXO Atklātais Pensiju Fonds, IPAS VAIRO, as well as INDEXO Bank.            

The pension management companies within the INDEXO group in Latvia offer modern 2nd and 3rd pillar pension plans. Nearly 158 thousand clients entrust the group with managing their pension savings totaling more than EUR 1.55 billion.        

INDEXO Bank, a credit institution licensed by the European Central Bank, serves over 47 thousand clients, with total client deposits amounting to EUR 68 million and EUR 50,5 million in loans.                

Founded and headquartered in Latvia, INDEXO is a Nasdaq Riga-listed company with over 7,100 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