In the 6 months of 2025 the new transactions of ALTUM support instruments amounted to 257 million euros, financing 4 504 new projects. In the 6 months of 2025, compared to the corresponding period in 2024, the new transactions have increased significantly in terms of volume (+63 million euros, +33%) and number of supported projects (+1 046 transactions, +30%).
Trends characterizing the reporting period:
- In the six-months of 2025 ALTUM continued active crediting, increasing the volume of new loans in Q2 both compared to Q1, as well as to the corresponding six-month period in 2024. The amount of new loans in the six-months of 2025 is 128 million euros (+29 million euros compared to the corresponding period in 2024). New volume in the EU Recovery and Resilience Facility’s programmes amounting to 43 million euros (+30 million euros) is the key contributer in total new volume increase for the six-months period. The largest volume of new loans within the programmes of this facility were issued consistently in the digital transformation programme, followed by the programme for energy-efficiency projects of multi-apartment buildings and programme for construction of affordable housing. Demand in the SME loan programmes remains strong leading to new loans of 33 million euros (+11 million euros) issued in the six-month period.
- In the six-months of 2025 demand for loans to companies with ticket size up to 100 thousand euros with decreased collateral requirements keeps stable. This initiative was launched by ALTUM in early 2024 to promote the lending pace in the regions. 577 new transactions were issued in 6 months totaling 19 million euros, +7 million euros compared to the corresponding period in 2024.
- In Q2 of 2025 the new guarantee volume continue to grow at a strong pace, reaching 95 million euros of new guarantees over the six-months period of 2025 (+33 million euros compared to the corresponding period in 2024). The increased volume of new guarantees is driven by a nearly equal rise of guarantees issued in both the individuals segment and the SME and Midcap segment. The total volume of new guarantees in individuals segment during 6 months of 2025 reaches 47 million euros (+19 million euros compared to the corresponding period in 2024). There is strong demand for housing guarantees in this segment, which has been the main driver of growth in new transaction during Q2. Notable activity was observed in the SME and Midcap segment during Q2 leading to total volume of guarantees issued of 47 million euros (+16 million euros compared to the corresponding period in 2024) in the six-months of 2025. Growth in this segment was driven by ALTUM’s attractive product terms, as well as several large guarantee deals in renewables. Overall, commercial banks have also become more active in crediting this segment over the past year and as such using ALTUM’s guarantees.
JSC Attīstības finanšu institūcija Altum (JSC Development Finance Institution Altum) is a Latvian state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 28 January 2025 Moody’s Ratings affirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The rating as well as the short-term issuer rating at P-2, the same as affirmed on 2 February 2024. ALTUM is rated by Moody’s Finance Companies Methodology, published in July 2024. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.