In the 7 months of 2023, the ALTUM's newly issued support instruments amounted to 145 million EUR (-21.1% compared to the corresponding period of 2022).

Trends characterizing the reporting period:

• despite entrepreneurs' and individuals' still extremely cautious and wait-and-see attitude towards new investments and taking on credit obligations, pace of the volume of new transactions has started to recover compared to 6 months of this year,
• after a sharp decline at the beginning of this year, the ALTUM’s gross portfolio of support instruments increased in the following months until on July 31 it reached the amount of portfolio that was at the end of 2022, which shows that the demand in economy for ALTUM’s support financing is increasing,
• a significant increase in the volume of new transactions compared to the 7-month period of 2022 is in the Individuals segment, which was facilitated by activities in area of multi-apartment buildings – both in the energy efficiency loan programme and the renovation loan programme,
• in the SMEs and Mid-caps segment, the volume of new transactions this year is like the volume in 7 months of the last year, and the largest volumes of new transactions were in the loan programme for mitigating the consequences of Russian military aggression in Ukraine, in loan programmes for increasing the energy efficiency and sustainability of companies, as well as in the investment loan programme for Mid-caps with a capital rebate,
• in July of this year, the first projects in the loan programme for the companies’ digitalization and the guarantees programme for the purchase of electric cars under the Renewal and Resilience Fund (RRF) were approved. The supporting instruments are available with a capital rebate in both programmes.

For more information - see the attachment.

JSC Development Finance Institution Altum is a Latvian state-owned company providing enterprises and households access to 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 16 December 2022 Moody’s Investors Service (Moody’s) affirmed the Company’s Baa1 long-term issuer rating, with outlook stable, same as affirmed on 25 March 2019. The baseline credit assessment (BCA) is also affirmed at Baa3, together with the short-term issuer rating at P-2. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv