Wednesday, April 15, 2026

Headlines

corporate earnings

“Agrova Baltics” financial results exceed IPO targets; the company is considering a bond issue

For the Latvian food production company group AS Agrova Baltics (previously “APF Holdings”), 2025 was the most successful year in the company’s development history. According to unaudited data prepared by the company’s management, in 2025 net turnover reached 24.3 million euros (+92% compared to 2024), adjusted EBITDA – 9.2 million euros (+257%), while profit for the reporting period – 5.2 million euros. The past year […]

The state has more than recouped its investments in startups

With the state investing three million euros in startups, the growth of companies has been promoted whose total contributions to the state budget now exceed 52 million. This has been concluded in a study by the Latvian Startup Association, “Support that Pays Off”. The study describes a specific program that was financed by ALTUM but implemented by the fund Imprimatur Capital. From 2013 to 2017, the fund granted 50,000 euros to 60 early-stage technology teams […]

KFC has opened a new restaurant in Riga

The fast food restaurant chain KFC has opened its eighth restaurant in Riga. In the Baltics, this is already the thirtieth. KFC Baltics marketing manager Laura Linartaitė says that KFC in Latvia continues to enjoy strong brand engagement, which is also driven by changes in eating habits. “Latvia has truly grown fond of KFC. We see high brand loyalty and increasing interest in chicken dishes,” she says. […]

71.25% of DelfinGroup now belongs to INDEXO

Upon completion of the mandatory share buy-back offer, IPAS INDEXO will acquire a further 1,862,021 AS DelfinGroup shares, which is 4.09% of the total voting share capital of DelfinGroup. As a result of the share purchase, INDEXO will acquire 1,765,588 DelfinGroup shares, or 3.88% of the company’s capital, while as a result of the share exchange, INDEXO will acquire an additional 96,433 DelfinGroup shares, or 0.21% of the company’s capital. The mandatory share buy-back offer was made following the voluntary […]

Cēsis residents are allowed to take over the Valmiermuiža brewery

The Competition Council has approved the merger of SIA Valmiermuižas alus and AS Cēsu alus. With this decision, the accession of Valmiermuižas alus to the Cēsu alus group of companies will be completed within the next month, Valmiermuižas alus informs. It has already been reported that, for the Competition Council to make its decision, it needed the opinion of industry representatives. Taking into account the council’s decision, it can be concluded that the industry had no significant objections […]

Insurer BTA’s profit in nine months has reached 9.66 million euros

The non-life insurer BTA Baltic Insurance Company (BTA), which operates with branches in Lithuania and Estonia, posted a profit of 9.664 million euros in the first nine months of this year, which is 6.2% more than in the corresponding period last year, according to the information published by the company. In gross insurance premiums, BTA signed a total of 262.874 million euros in the Baltics in the first nine months of 2025, which is 9.9% more […]

In an unfair court trial in Russia, Rietumu Bank may lose assets worth 16 million euros

The Moscow Arbitration Court on 2 December 2025 examined a civil case related to a claim by the Russian General Prosecutor’s Office against Rietumu Bank and other persons. The court of first instance has decided to satisfy the claim of the General Prosecutor’s Office. The Bank’s regulatory capital may decrease by approximately 4 million EUR. Considering that this is a decision of the court of first instance, the Bank will appeal it in accordance with the procedure prescribed by law, defending […]

INDEXO Bank’s loan portfolio exceeds 50 million euros in November

By the end of November, AS INDEXO Bank reached its highest total loan portfolio volume so far – 50.5 million euros, issuing new loans in the amount of 6.3 million euros over the last month. Market transaction statistics show that since August of this year, 70% of all mortgage loans refinanced in Latvia have been refinanced specifically at INDEXO Bank. At the end of November, the number of INDEXO Bank’s clients […]

Corporate lending in Latvia is experiencing one of the fastest increases in the euro area

After a prolonged period of caution, the corporate lending market in Latvia is showing a convincing recovery in 2025, driven by falling interest rates and entrepreneurs’ growing willingness to invest in development. The corporate lending market has become one of the fastest growing in the euro area, and non-bank financial service providers such as Cityfinances play a crucial role in reducing the financing gap in the SME segment. In the Bank of Latvia’s “Financial Availability Review […]

Financial Times ranks Eleving Group 57th among the fastest-growing European companies of the last decade

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, is ranked 57th in the overall “Europe’s Long-Term Growth Champions 2025” rating and 1st in the financial technology, financial services, and insurance category. Eleving Group is the only company from Latvia included in the list. “Eleving Group is currently operating in 17 countries worldwide. Over the past decade, we have strategically expanded […]