As of 31 December 2025, JSC Development Finance Institution Altum (hereinafter – ALTUM) had the gross portfolio of support instruments of EUR 1,501 million, of which the gross portfolio of financial instruments totalled EUR 1,497 million, comprised of 42,414 contracts, including:
- loan portfolio of EUR 621 million, the total number of contracts 7,752,
- guarantees portfolio of EUR 628 million, the total number of contracts 32,905,
- investments in venture capital funds for the total amount of EUR 90 million, the total number of projects financed by funds 207,
- Land Fund of EUR 158 million, the total number of transactions 1,550.
Since the beginning of the year, ALTUM’s financial instruments portfolio has grown by EUR 266 million in terms of volume and by 9.5 % (3,684 projects) in terms of the number of projects.
According to the unaudited interim condensed reporting data, in the twelve months of 2025 ALTUM generated EUR 31.5 million in profit.
Reinis Bērziņš, Chairman of the Management Board of Altum:
“In 2025, ALTUM continued very active lending – the volume of new transactions increased by almost one‑third compared with 2024, with the total portfolio volume increasing by EUR 266 million over the year. During 2025, the loan portfolio reached the volume of guarantee portfolio. New loans totalling close to EUR 100 million were driven by EU Recovery and Resilience Facility - both in SME segment for corporate energy efficiency and digitalisation, as well as in Individuals segment for multi-apartment buildings energy-efficiency and affordable housing programme. Additionally, another loans totalling over EUR 100 million were issued in the SME segment, with a significant share of EUR 46 million in Large investment loans. ALTUM’s guarantee portfolio also experienced solid expansion, with the volume of new guarantees increasing by 40% compared with the previous year.
Particularly notable are the sustainable product support programmes launched last December for Biomethane and District heating solutions. They achieved high visibility, and within a short period, all available programme funding was reserved through submitted applications.”
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.