On 30^th of January the Commercial Register registered the share capital increase of AS IDX1R (hereinafter – Company), IPAS Indexo subsidiary that will become the INDEXO Bank in the future after obtaining a banking license. After the increase of the share capital the total share capital of the Company is EUR 15 000 000.

Based on the decision of the Shareholders' Meeting of the Company of 24^th of January 2024, that approved the terms and conditions of the share capital increase of the Company and amendments to Company’s Articles of Association, the share capital of the Company was increase by 10 000 000 EUR.

The share capital of the Company was increased by way of contribution of the sole shareholder IPAS “Indexo”. The share capital increase is done to ensure all the capital necessary for obtaining the banking license and commencing operations for the new bank.

As previously reported, since mid-2022, INDEXO has been developing the project for the establishment of a new bank, and capital raising is the final stage in obtaining the bank's license and commencing operations. Throughout 2023 work has been completed on a secure and modern banking IT infrastructure. INDEXO Bank's mobile application has been developed with all necessary integrations for an impeccable customer experience. Additionally, fundamental products for individuals have been created, including current accounts, payments and cards, savings accounts and deposits, loans and, of course, convenient administration for third-pillar pensions. Upon receiving the license, INDEXO Bank will commence its operations serving individuals, while services for businesses will be developed in 2024.

Disclaimer: Approval from the European Central Bank is required for obtaining a commercial bank license.

About INDEXO

INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension management company in the Baltics with more than 128 thousand customers and approximately EUR 960 million euros of assets under management.

INDEXO is a Nasdaq Riga Stock Exchange listed company with close to 6000 shareholders and has an aim to fight for a better financial environment in Latvia. INDEXO vision is to become a financial services group that provides modern, personalized services empowering Latvia’s people for their prosperity.

Additional information is available at www.indexo.lv.

Contact information:
Ieva Bauma
IPAS "Indexo” Board Member, Marketing Manager
Email: ieva.bauma@indexo.lv
Phone: +371 28636789