During the first quarter of the year, financial services group INDEXO – comprising pension management companies, INDEXO Bank and financial technology company DelfinGroup – issued a total of EUR 58.1 million in new loans. The Group’s total number of clients exceeded 300 thousand, while assets under pension management surpassed EUR 1.5 billion at the end of the first quarter.
“Following the completion of the DelfinGroup transaction, this is the first quarter in which we operate as a consolidated financial services group. The quarterly results demonstrate stable growth across all key business areas. We continue to develop INDEXO as a leading local financial services group that drives positive change in Latvia’s financial sector and creates increasing value for our clients, shareholders and society,” says Henrik Karmo, Chairman of the Management Board of IPAS INDEXO and one of the founders of INDEXO.
AS INDEXO Bank
At the end of the first quarter of this year, the number of INDEXO Bank customers increased to 57.1 thousand, representing a 15% growth since the beginning of the year and confirming steady expansion of the customer base. During the quarter, the Bank’s loan portfolio grew by EUR 21.2 million, reaching EUR 76.7 million by the end of the first quarter, while customer deposits increased to EUR 90.5 million, up 23% compared to the beginning of the year. Over the quarter, INDEXO Bank paid EUR 463 thousand in interest to its customers.
“Lending is INDEXO Bank’s primary source of income, so we are particularly proud that in the first quarter of the year we increased our loan portfolio by 38%. Strong performance has been recorded both in mortgage lending and in consumer financing. The market has responded positively to our new product – home equity loans. We see significant opportunities in the lending market, with strong demand for new and innovative financing solutions. At the same time, we have intensified cooperation with DelfinGroup, developing joint value-driven offers for clients. Already now, we can say that the strategic cooperation model of the new Group is working, although only a small part of its potential has been realised so far,” says Valdis Siksnis, Chairman of the Management Board of AS INDEXO Bank and one of the founders of INDEXO.
IPAS INDEXO
At the end of the first three months of this year, the number of clients accounts of INDEXO pension management companies exceeded 159 thousand, while assets under management amounted to more than EUR 1.5 billion. In pension management, INDEXO focuses on promoting the habit of voluntary long-term savings among the Latvian society. In the first quarter of 2026, 3 thousand new clients accounts were opened in INDEXO's 3rd pillar pension, which is 2.5 times more than in the first quarter of 2025. Contributions and assets transferred from other managers to 3rd pillar pension plans reached EUR 6.5 million in the first quarter of 2026, representing an increase of 86% compared to the same period last year.
AS DelfinGroup
DelfinGroup, which joined the INDEXO Group at the end of last year, is one of Latvia’s leading financial technology companies, actively operating across various consumer finance segments. During the first quarter of 2026, DelfinGroup issued EUR 32.6 million in new loans in total, which is 9% more than in the first quarter of 2025.
About INDEXO financial services group
INDEXO is a financial services group that includes pension management companies IPAS INDEXO, AS INDEXO Atklātais Pensiju Fonds, IPAS VAIRO, as well as INDEXO Bank and AS DelfinGroup.
The pension management companies within the INDEXO group in Latvia offer modern 2nd and 3rd pillar pension plans. More than 159 thousand clients entrust the group with managing their pension savings totaling more than EUR 1.5 billion.
INDEXO Bank, a credit institution licensed by the European Central Bank, serves more than 54 thousand clients, with total client deposits amounting to EUR 90.5 million and EUR 76.7 million in loans.
Founded and headquartered in Latvia, INDEXO is a Nasdaq Riga-listed company with almost 7 600 shareholders. Its mission is to fight for a better financial environment in Latvia and strengthen the well-being of Latvian residents by providing modern and personalized financial services. For more information visit www.indexo.lv.
DelfinGroup is a licenced fintech company established in 2009 and currently operating in Latvia and Lithuania. The company operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer loans, pawn loans, and the sale of pre-owned goods online and at more than 80 branches across Latvia. For more information visit www.delfingroup.lv.