In accordance with the audited report, JSC “Development Finance Institution Altum” (hereinafter referred to as - ALTUM) has made a profit of EUR 32.1 million in 2025.
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.
In 2025, 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. The volume of the loan portfolio increased by 31% in 2025 compared to 2024 (+EUR 147 million). The amount of newly issued loans in 2025 was EUR 292 million (in 2024: EUR 222 million). The guarantees’ portfolio increased in 2025 up to EUR 628 million (+20% compared to 2024). In 2025, the amount of newly issued guarantees was EUR 200 million (in 2024: EUR 143 million). Targeted financial instruments implemented by Altum, as well as the increase in bank activity in lending, have been reflected in the growth of Altum’s portfolios and the volume of new transactions.
Reinis Bērziņš, Chairman of the Management Board of Altum:
“Last year was characterized by steadily growing demand for Altum’s financial instruments, which in 2025 resulted in the highest annual volume of new transactions in Atlum’s history – exceeding half a billion euros. Estimated total contribution to economy driven by these investments is almost three times higher and exceed 1.4 billion euros. Moreover, in 2025, new environmentally focused projects financed by Altum are expected to contribute to sustainability by estimated annual reduction in CO₂ emissions of 21.4 thousand tonnes. That is driven by ALTUM sustainable loans to corporates along with RRF co-funded programmes for corporate energy efficiency and multi-apartment building energy efficiency.
In this year of growth, Atlum’s portfolio has expanded in both the loan and guarantee segments, each now exceeding 600 million euros. In 2025, Altum’s support instrument portfolio reached 1.5 billion euros, while continuing to demonstrate solid operational return and profit indicators. In 2026, Altum will continue to implement new support programmes, including recently launched ERDF co funded programme contributing to corporate sustainability, as well as the launch of the programme for the development of corporates’ industrial capacities and dual-use products, which is currently in progress.
Altum’s operational results over the past ten years together with the team’s expertise and knowledge, provide an excellent foundation for the ability to respond quickly and implement new, targeted state support instruments in conditions of economic turbulence, influenced by global supply-chain pressures and security risks, thereby ensuring stable financing for both entrepreneurs and individuals – supporting growth as well as resilience.”
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.