AS INDEXO Bank achieved its fastest loan portfolio growth since the bank began operations in July – issuing €7 million in new loans during the month. Of this amount, €3.3 million were new consumer loans, and €3.7 million were refinanced mortgage loans. As a result, the bank’s loan portfolio grew by 54% in July, reaching €18.8 million by the end of the month.
By the end of July, INDEXO Bank’s customer base had increased to 39.9 thousand – an increase of 2.6 thousand compared to the end of June. The total amount of client deposits reached €49.9 million, and clients received €90 thousand in interest payments during the month.
“We see that interest in mortgage refinancing remains strong – currently, loans are being actively issued following the completion of necessary formalities, which takes time. In July, we signed mortgage loan agreements totaling €3.7 million, and by the end of the month, refinancing deals amounting to €42 million were at various stages of progress. This confirms that Latvian residents are actively seeking better terms and choosing INDEXO. Each refinanced loan – or even just a proposal from us – prompts other banks to react and reconsider the rates previously applied to customers. This increased competition has a positive impact on household budgets across Latvia, and we will continue to drive this dynamic,” says Jānis Mūrnieks, Member of the Management Board and Head of Retail Banking at INDEXO Bank.
Meanwhile, the pension management company IPAS INDEXO had nearly 145 thousand pension clients by the end of July, with assets under management increasing to more than €1.4 billion.
