Luminor announced today its financial results for 1Q26, reporting growth in lending and deposits, continued progress with its strategy, and maintenance of the quality of its loan book. The bank’s liquidity and capital positions remained strong.
In Retail Banking, Luminor grew lending and deposits, supported by ongoing improvements to its offering and customer experience. In Corporate Banking, leasing continued to see healthy demand as overall business activity remained solid. Luminor also made further progress with its digitalisation plans and continued to strengthen its consolidated, risk-based approach to preventing financial crime.
Luminor generated a profit after tax of 34.6 million EUR in the quarter, as compared to 45.4 million EUR in the same period last year. Total operating income decreased by 1.8 million EUR, due mainly to a decrease in net interest income as reference rates fell. Total operating expenses increased by 14.0 million EUR, as the bank incurred 11.5 million EUR higher migration costs to raise the efficiency of the bank’s IT systems and to digitalise its operating model. Excluding these costs, total operating expenses would have increased by 2.5 million EUR.
Loans to customers over the quarter increased by 35.5 million EUR and reached 11.5 billion EUR. An increase of 86.1 million EUR in lending to individuals, driven principally by growth in mortgage lending, was offset in part by a reduction in lending to companies as facilities were repaid. Luminor retained its strong liquidity and capital positions and the quality of its loan book, with non-performing loans at 2.2% of gross loans.
Wojciech Sass, Luminor Bank Chief Executive, said:
‘In the first quarter we made visible progress with our strategy, growing loans and deposits, and improving our customer experience once again. And, we increased our work to improve the efficiency of our IT systems and digitalise our operating model. Over the next two years we will increase our customer franchise, improve the efficiency of our IT systems and digitalize our operating model, and remain compliant with changing regulations.‘
Luminor’s Q1 2026 interim report can be found here.
About Luminor
Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We serve the financial needs of individuals, families, and companies. Luminor is here to improve the financial health of our customers and our home countries, and to support their growth.
Further information about us can be found at www.luminor.lv
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