AS IDX1R (hereinafter – Company), IPAS Indexo subsidiary that will become the INDEXO Bank in the future after obtaining a banking license, has filed a request with the Commercial Register to register the increase of share capital. After the increase of the share capital, the total share capital of the Company will comprise EUR 5 000 000.

The share capital of the Company shall be increased by EUR 3 000 000 based on the decision of the Shareholders' Meeting of the Company of 22^nd of May 2023, that approved the terms and conditions of the share capital increase of the Company and amended the Articles of Association of the Company.

The share capital of the Company shall be increased by way of contribution by the sole shareholder IPAS Indexo. The share capital increase is done to continue the INDEXO Bank’s product development.

As previously reported, in parallel to pension management, INDEXO has been actively working on a new commercial bank project and at the end of last year filed for a banking license. INDEXO is also working on the new banks’ product portfolio, development of its IT systems and risk management models as well as other matters related to the operations of the would-be bank. 

Disclaimer: Bank (credit institution) license is subject to authorization granted by the European Central Bank based on the Bank of Latvia proposal.

About INDEXO  

INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension management company in Latvia with more than 110 thousand customers and more than EUR 710 million in assets under management. 

INDEXO was established in 2017 by a group of 30 experienced business representatives and managers with an aim to fight for a better financial environment in Latvia. INDEXO vision is to become a financial services group, offering modern and customized services that empower Latvian people to take care of their financial wellbeing. 

More information available at www.indexo.lv 

         Contact information: 
         Ieva Margeviča 
         IPAS “Indexo” 
         Board Member, Marketing Manager 
         E-mail: ieva.margevica@indexo.lv 
         Telephone: + 371 28 636 789