In the 6 months of 2026 the new transactions of ALTUM support instruments amounted to 346 million euros, financing 4 523 new projects. In the 6 months of 2026, compared to the corresponding period in 2025, the new transactions have increased significantly in terms of volume (+90 million euros, +35%). The number of supported projects remains comparable to the corresponding period in 2025 (+19 transaction, +0.4%).
Trends characterizing the reporting period:
- In the first six months of 2026, ALTUM continued its active lending, with the volume of new loans reaching 161 million euros (+ 33 million euros, 26% compared to the corresponding period in 2025). This was mainly driven by new volumes of SME Growth loans totalling 37 million euros (+ 4 million euros compared to the corresponding period in 2025). As in the first quarter, demand for multi-apartment building energy efficiency loans with a capital rebate, issued under the EU Cohesion Policy programming period 2021–2027, remained high in the second quarter, with 32 million euros issued in the first six months of 2026. In the second quarter, the volume of new investment loans with a capital rebate increased, with 21 million euros issued in the first half of 2026 (+8 million euros compared to the corresponding period in 2025).
Although the volume of new transactions under the Recovery and Resilience Facility programmes decreased by 11 million euros compared to the corresponding period in 2025, due to the implementation period of these programmes, the volume of new transactions reached EUR 32 million in the first six months of 2026. The largest volume of new loans within the programmes of this facility was issued for affordable housing construction and business energy-efficiency projects.
- In the first six months of 2026, there was a significant increase in demand for ALTUM guarantee products, which was observed in the first quarter and continued into second quarter. The volume of new guarantees in the first six months of 2026 was EUR 160 million (+ 65 million euros compared to the corresponding period in 2025).
The increase in the volume of guarantees in the first six months was mainly driven by commercial guarantees, with the volume of new transactions reaching 90 million euros (+43 million euros compared to the corresponding period in 2025). As in previous quarters, growth in new transactions continues to be driven by an increase in the average transaction size, reflecting higher demand for guarantees in the construction, trade, and manufacturing sectors, as well as for renewable energy projects and management buy-out transactions. Overall, despite geopolitical uncertainty, business activity remains strong, with companies actively investing in development and growth. The volume of new guarantee transactions in the first six months of 2026 was also supported by the attractive terms of ALTUM’s products.
Although the volume of new transactions for guarantees to individuals decreased in the second quarter of 2026 compared with first quarter, it significantly exceeded the levels of the corresponding period in 2025. The volume of new transactions in the first six months of 2026 was 70 million euros (+ 23 million euros compared to the corresponding period in 2025). The increase in new transactions was driven by guarantees with a capital rebate issued under the new multi-apartment building energy efficiency programme within the EU Cohesion Policy programming period 2021-2027, with new transactions totalling 31 million euros in the first six months of 2026. New transactions under Housing Guarantee programme also had a relatively modest impact, with demand remaining stable. The volume of new transactions in the first six months of 2026 was 31 million euros (+ 6 million euro compared to the corresponding period in 2025).
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.