INDEXO Group Reports €58.1 Million in New Lending for First Quarter
INDEXO Group has expanded its credit portfolio significantly in the early stages of the year, issuing €58.1 million in new loans during the first quarter. This deployment of capital underscores the group’s aggressive push to strengthen its position within the Latvian financial sector.
The growth in lending coincides with a major strategic reorganization of the group’s asset management infrastructure. On March 26, 2026, it was announced that IPAS INDEXO has initiated a transition of its custodian bank functions. Under this plan, INDEXO Banka—which has received the necessary authorization from the Bank of Latvia—is expected to capture over these functions from Swedbank by the end of June 2026.
This transition is set to move approximately €1.5 billion in assets managed by IPAS INDEXO to INDEXO Banka. According to company statements, the shift will not impact client investment strategies, total savings, or daily communications, as all investments will remain protected and accessible in accordance with regulatory requirements. The move is designed to enhance the group’s internal efficiencies by separating custodian assets from the bank’s other operational assets.
As a publicly listed entity on the Nasdaq Riga Stock Exchange, the INDEXO Group operates through a structure that includes IPAS Indexo, Indexo Atklātais Pensiju Fonds AS and INDEXO Banka AS. The group’s current leadership is headed by Chairman of the Management Board Henriks Karmo, alongside board members Marija Černoštana and Artūrs Roze.
The bank continues to diversify its offerings to attract both borrowers and savers. Current credit products include home loans of up to €500,000 starting at 1.9% per year and consumer loans starting from 6.5% per year. To balance its balance sheet, the bank provides various savings instruments, including term deposits with rates up to 4.5% per year and saving vaults at 2.0% per year.
These developments highlight the group’s broader objective of becoming a leading local financial powerhouse in Latvia by integrating modern financial solutions and increasing its self-reliance in asset custody.
