AS INDEXO Bank, which began offering mortgage refinancing on May 22, received over 700 refinancing applications within just nine days by the end of May and issued offers totaling more than 50 million euros. 

By the end of May, the total number of INDEXO Bank clients reached 35,200—an increase of 1,800 compared to the end of April. Meanwhile, the consumer loan portfolio grew to 10.3 million euros, and the volume of deposits reached 47.9 million euros. Additionally, clients received 91,500 euros in interest payments during the month. 

“The large number of mortgage refinancing applications received in such a short time—and without any advertising—demonstrates the high level of public trust in the INDEXO brand and highlights a significant market need for fair and transparent mortgage offerings. Most mortgages in Latvia were disbursed when interest rates were higher than they are now, yet many banks have not revised these rates—even though loans are partially repaid and client risk has significantly decreased. In the coming months, we will continue to expand our offerings by gradually introducing new types of mortgage loans,” said Jānis Mūrnieks, Head of the Retail banking segment at INDEXO Bank. 

More than 77% of all mortgage refinancing applications were processed automatically, allowing clients to receive personalized offers faster and more conveniently than is typical in the Latvian banking sector. 

Meanwhile, the number of pension clients at the pension management company IPAS INDEXO reached 145,064 by the end of May, with assets under management totaling 1.34 billion euros. 

About INDEXO 

INDEXO is a financial services group that includes pension management companies and INDEXO Bank. 

 INDEXO, an investment management company licensed by the Bank of Latvia, offers modern 2nd and 3rd pillar pension plans in Latvia. It is one of the fastest-growing pension managers in the Baltics, with over 145 thousand customers and more than EUR 1.34 billion assets under management.

INDEXO Bank, a credit institution licensed by the European Central Bank, serves over 35 thousand clients, with total client funds amounting to EUR 47.9 million and EUR 10.3 million in issued consumer loans. 

Founded and headquartered in Latvia, INDEXO is a Nasdaq Riga-listed company with more than 6,400 shareholders. Its mission is to fight for a better financial environment in Latvia and strengthen the well-being of Latvian residents by providing modern and personalized financial services. For more information visit www.indexo.lv. 

Contact Information:
Ieva Bauma
INDEXO Head of Marketing and Communications
E: ieva.bauma@indexo.lv
T: +371 28 636 789