BluOr Bank AS publishes the Annual Report 2025 with the sworn auditor’s opinion and the corporate governance statement for 2025.
On March 6, 2026, the general meeting of shareholders of BluOr Bank AS unanimously approved the Group’s consolidated and Bank’s separate financial statements for 2025.
BluOr Bank delivers sustainable growth and strong performance
BluOr Bank’s performance over the reporting period demonstrates its ability to operate successfully in a changing market environment, underpinned by stability and consistent growth. The financial results achieved reflect a sustainable business model, effective strategy execution, and a continued strengthening of the Bank’s competitive position.
Key financial indicators and information
As evidenced by the audited financial results, the Bank recorded a profit of EUR 18.1 million during the reporting period. At the end of the reporting period, the Bank’s equity amounted to EUR 131.1 million. During the period, the Bank also raised EUR 1 million in additional Tier 1 capital through the issuance of the Bank’s bonds. At the same time, total assets increased by nearly 9%, reaching EUR 1.143 billion, confirming the expansion of the Bank’s operations and the acceleration of its business growth.
As at 31 December 2025, the Bank reported a liquidity coverage ratio (LCR) of 145.34% and a capital adequacy ratio of 18.73%. Other key indicators of the Bank’s financial performance also remained strong, with return on equity (ROE) at 18.68% and return on assets (ROA) at 1.65%.
Throughout the reporting period, the Bank maintained consistent implementation of its business strategy, ensuring stable growth of its client base. Over the last 12 months, the Bank recorded growth of 35% in the corporate client segment and 16% in the retail segment, confirming strong demand for the Bank’s services and well-balanced development across customer segments.
Growing customer activity was also reflected in higher lending volumes. Over the past year, BluOr Bank significantly expanded its lending activities, providing active support for business financing across various sectors. The volume of newly issued loans amounted to EUR 325 million, representing an increase of approximately 28% compared with the previous period. This growth demonstrates both rising demand for the Bank’s financing solutions and the Bank’s capacity to meet this demand. Of the total financing granted, 87% was directed to small and medium-sized enterprises, supporting business growth both in the capital and across the regions.
As a result of these lending activities, the Bank’s total portfolio of approved and issued loans increased by 30% in 2025, reaching EUR 781 million, reflecting the Bank’s targeted growth and its solid position in corporate financing.
During the reporting period, the Bank provided clients with high-quality asset management solutions, driving both higher client interest and growth in assets under management. In 2025, this area of activity achieved solid growth, with total assets under management increasing by 113% and the client base expanding by 89%. At the same time, the value of investment portfolios increased by an average of 31%, delivering strong returns for clients and demonstrating the Bank’s professional expertise in this area. This rapid growth was driven by consistent strategy execution and the dedicated, professional efforts of the Bank’s team, reinforcing the Bank’s position among leading market participants in the Latvian asset management segment.
In 2025, the e-commerce segment also recorded substantial growth. Card acquiring turnover more than doubled, increasing by 134% to reach its highest level to date. By the end of the reporting period, monthly turnover amounted to EUR 22 million. At the same time, transaction activity also rose significantly, with the number of unique transactions rising by approximately 270% and reaching up to 800 thousand transactions per month by year-end.
The continued development of e-commerce services also contributed to the expansion of the client base. During the reporting period, the Bank recorded a significant increase in new clients in both POS terminal services and e-commerce solutions. The expansion of the Bank’s international operations and service offering enhanced BluOr Bank’s visibility and attracted new clients in the online payments segment. At the same time, the Bank expanded its presence across the Baltic region, making its services available outside Latvia.
Over the past year, the Bank continued to broaden its range of services, providing clients with enhanced opportunities to support international payments and business development. The geographical reach of payment services was significantly expanded to include Australia, Canada, Israel, and Japan.
To ensure secure and efficient payment solutions, BluOr Bank partners with a leading Northern European payment processing service provider that is part of a major European payment technology group. The cooperation covers card and payment transaction processing, the implementation of fraud prevention solutions and the 3D Secure protocol for e-commerce security, as well as customer support outside the Bank’s business hours.
The Bank has incorporated sustainability goals into its operational strategy, taking into account environmental, social, and governance (ESG) criteria, and is actively implementing this commitment through practical measures. One such initiative is the signing of a guarantee agreement with the European Investment Fund (EIF) under the InvestEU programme, aimed at promoting green investment financing for SMEs in Latvia. With the support of the EIF guarantee, the Bank can offer financing of up to EUR 30 million for projects that contribute to achieving the European Union’s green and sustainable economic development goals and help mitigate the impact of climate change.
As a bank founded by Latvian entrepreneurs, BluOr Bank builds its activities on long-term relationships with its clients, developing financial services tailored to the needs of both corporate and private customers. Through the gradual expansion of its service offering, the Bank strengthens its market position and supports balanced, sustainable growth.
In line with its strategic objectives, the Bank intends to substantially expand its mortgage and consumer lending activities in 2026, reinforcing its position in the retail financing segment and supporting sustainable, long-term development.
Risk management and regulatory compliance will remain a core component of the Bank’s operations, supported by continuous monitoring of developments in international regulation and market dynamics.
***
See the full report published on the Bank’s website: https://www.bluorbank.lv/en/financial-information
Enclosed: BluOr Bank AS Annual Report 2025 and Corporate Governance Statement 2025.
***
About BluOr Bank:
BluOr Bank AS is a privately owned commercial bank of Latvia. The Bank established in 2001. We support business success through smart lending, account services, and e-commerce solutions — while helping individuals achieve financial well-being with personal accounts, mortgages, consumer loans, and wealth management. With BluOr Bank, you get more than just banking — you gain a partner committed to your growth. Additional information: https://www.bluorbank.lv