As of 31 March 2026, JSC Development Finance Institution Altum (hereinafter – ALTUM) had the gross portfolio of support instruments of EUR 1,595 million, of which the gross portfolio of financial instruments totalled EUR 1,590 million, comprised of 43,318 contracts, including:

• loan portfolio of EUR 653 million, the total number of contracts 7,980,
• guarantees portfolio of EUR 686 million, the total number of contracts 33,494,
• investments in venture capital funds for the total amount of EUR 92 million, the total number of projects financed by funds 244,
• Land Fund of EUR 159 million, the total number of transactions 1,600.

Since the beginning of the year, ALTUM’s financial instruments portfolio has grown by EUR 93 million in terms of volume and by 2.1 % (904 projects) in terms of the number of projects.

According to the unaudited interim condensed reporting data, in the three months of 2026 ALTUM generated EUR 5.9 million in profit.

Reinis Bērziņš, Chairman of the Management Board of Altum:

“The first quarter of 2026 closed with exceptionally high activity – the volume of ALTUM's new transactions increased by 30% compared to the respective period last year, reaching a historically highest level within a single quarter in the guarantees segment. The increase was largely due to guarantees issued to corporates, which totalled EUR 36 million over the three-month period.  Growth loans in the SME segment, including loans issued within the programs of the Recovery and Resilience Facility, have substantially boosted the market.

In general, the results of the first quarter confirm that ALTUM's instruments effectively respond to the needs of economy. It is expected that in the coming quarters additional boost to development of entrepreneurship will be provided by the measure introduced in May this year, targeting five regions along Latvia's eastern border which, according to the data of the Central Statistical Bureau, have the lowest GDP per capita in Latvia and are located at the external Latvian and European Union border with Russia or Belarus. In these regions, ALTUM will provide loans at a 0% interest rate and will not apply EURIBOR until 1 January 2029, thereby supporting the regions that face greater economic and geographical challenges.” 

   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.