July 7, 2025

The following is a press release from Signet Bank:

Signet Bank Group (hereinafter - the Group) reported strong financial results in the first quarter of 2025. The Group's loan portfolio grew by 16% to EUR 243 million compared to the end of 2024 while profit after tax reached EUR 1.3 million, a 53% increase compared to the first quarter of 2024.

In Q1 2025, the Group's total operating income amounted to EUR 44 million, deposits grew to EUR 561 million. The loan portfolio increased to EUR 243 million, reflecting the growing demand for funding. Total customer funds under management and administration (AUMA) amounted to EUR 1.6 billion. This further demonstrates the Group's strategic growth and ability to attract and manage client assets. The Group's capital increased to EUR 43 million.

"We are pleased with the positive financial results and the Group's growth in Q1 2025. The growth in the loan portfolio and in arranged bond issues, as well as the positive earnings result, confirm the effectiveness of our strategy. This is driven by the growing demand for our financing and capital management services, as well as the strong and sustainable base on which we base our operations. We are well positioned to continue to grow the business to make our services even more accessible and competitive, while supporting the development of Latvian companies and contributing to the local economy," says Roberts Idelsons, CEO of Signet Bank.

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 50 Latvian companies raise additional funding of €1 billion through bond and stock issuances. In 2024, the bank's assets under management reached €1.6 billion. Signet Bank is a leading organizer of corporate bond and stock issuances in Latvia and one of the leading stock brokers in the Baltics. The bank’s shareholders include eighteen Latvian and international private investors, with the largest being Signet Acquisition III (22%), whose sole shareholder is U.S. investor Alexander Solovey, RIT Group (18%) – a Latvian company owned by the Rapoport family, and Reglink (14%), founded by banking professional Irīna Pīgozne.

More information:

Aija Freija-Zonne

Head of Signet Bank Communications and Marketing

aija.freija-zonne@signetbank.com

+371 28671654