Signet Bank strengthens its position in the local market – 44% growth in loan portfolio, unique investment product, record bond volume in the first half of the year

In the first half of 2025, Signet Bank Group (hereinafter – the Group) continued its successful development. The Group continued to demonstrate stable growth, maintaining a positive development trend. Highlights of the first half-year include significant expansion of the loan portfolio, a record number of arranged local corporate bond issues, launch of a new investment product – the Signet Baltic Bond Fund, the first of its kind in the Baltic region – as well as the completion of strategic changes in the structure and management team of the subsidiary, Magnetiq Bank.

At the end of the first half year of 2025 Group’s loan portfolio grew by 44%, compared to the same period last year, reaching EUR 255 million. Financial indicators of the Group continued to show positive growth in the local market. Total operating income reached EUR 23.6 million (+31% increase compared to the first half of 2024), driven by a 26% increase in net interest income to EUR 11 million and a 26% increase in commission income to EUR 9 million. Group’s capital increased by 56% compared to the end of first half of 2024 and reached EUR 49 million. Total customers funds under management and administration (AUMA) increased to EUR 1.6 billion, further confirming the Group’s strategic growth and successful customer asset acquisition and management.

“Signet Bank is relatively new brand in Latvian financial sector, but over the past few years we have established ourselves as a stable player in the local market, with dynamic growth and clear ambitions. The results we have achieved confirms that in Latvia there is place for a bank focused on corporate lending, the development of local capital markets, and future-oriented digital solutions. We are proud of this half-year’s results, which demonstrate significant growth both in investment banking and corporate lending segments,” says Roberts Idelsons, CEO of Signet Bank.

Signet Bank continues to strengthen its position as Latvia’s leading investment bank. In the first half of 2025, the Bank made a strong contribution to the local capital market, arranging bond issues with a total value of EUR 198 million – an increase of 169% compared to a year earlier –14 transactions in total, which is 100% more than in the first half of 2024.

“We see that more entrepreneurs are choosing financing solutions offered by the capital markets as a modern and transparent funding source, which accelerates long-term growth of value of their businesses. Investor’s trust is also growing – the interest from both local and international investors shows potential of the local capital markets as a competitive financial instrument. We expect that transaction activity will remain stable in the second half of 2025,” emphasizes R. Idelsons.

An important milestone in the development of the Group’s investment products was reached in May, when a unique investment product was launched – the Signet Baltic Bond Fund. It is the first, and so far, the only, fund of its kind in the Baltic region. The fund gives investors opportunity to place their capital in a diversified portfolio of Baltic corporate bonds through a single investment – currently including bonds from 42 different issuers – while retaining the flexibility to increase or reduce their investment at any time, thanks to the daily liquidity. In its first two months (May–June), the fund attracted nearly EUR 5 million of investments.

To continue further growth, Group attracted additional share capital of EUR 3 million in the first half of 2025, increasing the number of shareholders to 24 persons. Signet Bank will continue to focus on financing of local businesses, growth of investment banking activities and promoting financial literacy through educational programs for entrepreneurs and society in general.

About Signet Bank

Signet Bank is Latvia’s leading investment bank, founded in 1991, and one of the first independent banks in Latvia. Signet Bank offers sustainable financing and investment solutions to local entrepreneurs and businesses. Since 2021, Signet Bank has helped more than 70 Latvian companies to raise additional funding of more than €1 billion through bonds and equity issuances. In 2024, the bank’s assets under management and administration reached €1.6 billion. Signet Bank is a leading organizer of corporate bond and equity issuances in Latvia and one of the leading securities brokers in the Baltics. The bank’s shareholders include 24 Latvian and international private investors, largest being Signet Acquisition III (22%), whose sole shareholder is U.S. investor Alexander Solovey, Reglink (14%), founded by banking professional Irīna Pīgozne, and RIT Group (14%) – a Latvian company owned by the Rapoport family.