As of 1 October 2026, INDEXO Bank will take over from Swedbank the depositary bank functions for the third-pillar pension plans managed by AS “INDEXO Atklātais Pensiju Fonds” and the life-cycle investment plans managed by INDEXO Asset Management IPAS. This marks the completion of the transfer of all pension assets managed within the INDEXO Group to INDEXO Bank.
As a result of the change of depositary bank, pension assets of approximately EUR 180 million have been transferred to INDEXO Bank. The transition process has not affected INDEXO clients’ investment strategies, savings balances, or day-to-day communication with clients. All investments remain fully protected and accessible in accordance with applicable regulatory requirements.
“Depositary bank services are an essential, yet largely invisible part of investment management from the client’s perspective. By taking over the safekeeping of third-pillar pension plan assets and the assets of INDEXO Asset Management’s life-cycle investment plans, we have completed the transfer of all pension assets managed within the INDEXO Group to INDEXO Bank. The next step is to offer depositary bank services to other institutional clients in Latvia,” says Valdis Siksnis, Chairman of the Management Board of INDEXO Bank.
A depositary bank is responsible for the safekeeping of assets and financial instruments of investment plans, which are held entirely separately from the bank’s own assets. It also oversees that the management of investment assets complies with applicable regulatory requirements and the rules of the respective pension and investment plans.
To ensure the highest level of security and service quality in line with international standards, INDEXO Bank cooperates with CACEIS, one of the largest depositary banks in Europe.
About the INDEXO financial services group
INDEXO is a financial services group comprising pension management companies IPAS INDEXO, INDEXO Atklātais Pensiju Fonds AS, and INDEXO Asset Management IPAS, as well as INDEXO Bank AS and DelfinGroup AS.
The Group’s pension companies manage EUR 1.7 billion for more than 162 thousand customers in Latvia. INDEXO Banka, a bank licensed by the European Central Bank, serves more than 69 thousand customers with deposits exceeding EUR 161 million and a loan portfolio exceeding EUR 134 million. The Group reached profitability in the first quarter of 2026.
More information: https://indexo.lv/en/
