As of 30 June 2026, JSC Development Finance Institution Altum (hereinafter – ALTUM) had the gross portfolio of support instruments of EUR 1,711 million, of which the gross portfolio of financial instruments totalled EUR 1,750 million, comprised of 44,207 contracts, including:
- loan portfolio of EUR 707 million, the total number of contracts 8,305,
- guarantees portfolio of EUR 738 million, the total number of contracts 34,010,
- investments in venture capital funds for the total amount of EUR 98 million, the total number of projects financed by funds 207,
- Land Fund of EUR 162 million, the total number of transactions 1,685.
Since the beginning of the year, ALTUM’s financial instruments portfolio has grown by EUR 208 million in terms of volume and by 4 % (1,793 projects) in terms of the number of projects.
According to the unaudited interim condensed reporting data, in the six months of 2026 ALTUM generated EUR 10.1 million in profit.
Reinis Bērziņš, Chairman of the Management Board of ALTUM:
“ALTUM maintained a very high level of activity in the first six months of 2026, with the volume of new transactions increasing by more than one third compared to the corresponding period of the previous year. Loan and guarantee portfolios have for the first time exceeded EUR 700 million, demonstrating a stable and growing demand for ALTUM financial instruments and their importance in supporting business development.
The role of support instruments ensuring access to finance for businesses is also demonstrated by the growth in the corporate guarantee segment during the first six months of this year. Compared to the corresponding period of the previous year, the volume of corporate guarantees has almost doubled. Strong activity continues across loan programmes, particularly the SME growth, the Recovery and Resilience Facility, multi-apartment building energy efficiency, and investment loan with capital rebate programmes. We see that businesses continue to invest in the development and strengthening of competitiveness. ALTUM's role is to provide the financial solutions needed to support these efforts, particularly in areas and regions where access to finance remains limited.
At the same time, we continue to expand the range of support instruments in line with the national development priorities. In August, a new program was launched to strengthen production capabilities for military and dual-use products, helping companies invest in the development of their production capacity and supporting the growth and resilience of Latvia’s defense industry”
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.