On 14 October, INDEXO held a webinar presenting the INDEXO Group’s updated strategy and three-year forecast, as well as the Group’s development and financial plans through 2029. At the center of these plans is accelerated consumer lending. The Group’s net loan portfolio is estimated at approximately EUR 280 million at the end of September 2026 and is forecast to reach approximately EUR 340 million by the end of 2026 and EUR 1.0–1.2 billion by 2029. Consumer loans are expected to account for around 55% of the portfolio. Consumer lending is already a key driver of the Bank’s growth, accounting for approximately 82% of the Bank’s gross interest income in the second quarter of 2026.
To achieve the planned growth, INDEXO Bank will require an additional EUR 33–38 million of capital, approximately two-thirds of which the Group will generate internally. Over the forecast period, INDEXO plans to raise a total of EUR 10–13 million of new capital publicly, part of which is planned to be raised in Stockholm in the fourth quarter of 2026. Due to faster growth in consumer lending, profit in the short term will be lower than previously planned, as under IFRS 9 provisions are recognised at the time a loan is issued. As a result, the 2026 profit forecast is EUR 0.5–1.0 million. In 2029, net profit attributable to INDEXO shareholders is forecast at EUR 37–42 million, with INDEXO Bank expected to contribute more than half.
Webinar recordings:
English: https://www.youtube.com/live/qT3uN8Eann8?si=QD1Z4Y1KGZl12n4U
Latvian: https://www.youtube.com/live/whWGcmKsvGg?si=1euVR8TJiRJJ77SH
The presentation shown during the webinar is attached to this announcement.
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 Bank, a bank licensed by the European Central Bank, serves more than 70 thousand customers with deposits exceeding EUR 167 million and a loan portfolio before expected credit losses exceeding EUR 139 million. The Group reached profitability in the first quarter of 2026.
More information: https://indexo.lv/en/