In the 3 months of 2026 the new transactions of ALTUM support instruments amounted to 163 million euros, financing 2 176 new projects. In the 3 months of 2026, compared to 2025, the new transactions have increased significantly in terms of volume (+36 million euros, +29%). The number of supported projects remains comparable to the corresponding period in 2025 (+51 transaction, +2%).

Trends characterizing the reporting period:

-   In the three-months of 2026, significant increase in demand for ALTUM guarantee products has been observed. The volume of new guarantees reached 86 million euros (+ 37 million euros compared to the corresponding period in 2025), representing the highest volume of new transactions in a single quarter.

The increase in the volume of guarantees was mainly driven by guarantees to individuals totalling 49 million euros, of which 28 million euros were guarantees with capital rebate issued under new multi-apartment building energy efficiency programme within the EU Cohesion Policy programming period 2021-2027. Demand for housing guarantees also remained stable, with the volume of new transactions reaching 14 million euros (+2 million euros compared to the corresponding period in 2025).

In the first three months of 2026, the volume of new transactions in commercial guarantees reached 36 million euros (+17 million euros compared to the corresponding period in 2025). This was driven by several factors, including a rise in the average transaction size, reflecting stronger demand for guarantees for investment projects as well as for loans in renewable energy projects. The growth was also supported by changes in the terms of guarantee products, which are currently less restrictive for M&A and management buy-out transactions. In addition, there is increasing demand for guarantees for projects in the defence sector.

-   In the first three months of 2026, ALTUM continued its active lending, with the volume of new loans reaching 68 million euros (+9 million euros, +16% compared to the corresponding period in 2025). This was mainly driven by new volumes of SME growth loans totalling 16 million euros (+2 million euros compared to the corresponding period in 2025). A comparable volume of new transactions was also issued under the Recovery and Resilience Facility programmes.

Similarly to guarantees, there is strong demand for multi-apartment building energy efficiency loans with a capital rebate, issued under the EU Cohesion Policy programming period 2021–2027, totalling 10 million euros in the first three months of 2026.

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.