Signet Bank Increases Capital to Strengthen Financing for Supporting Growth of Local Businesses

Signet Bank AS has completed another capital increase and investor attraction round, as a result of which the bank’s equity was increased by EUR 10 million, surpassing EUR 60 million. Following the increase of share capital, the number of the bank’s shareholders has grown to 47, demonstrating investors’ confidence in Signet Bank Group’s development strategy and long-term growth potential.

The capital increase is part of the bank’s development strategy, which focuses on financing local businesses through both traditional lending and capital market instruments.

In recent years, Signet Bank has demonstrated stable and dynamic growth, strengthening its position in Latvia’s financial sector. Signet Bank’s audited profit last year amounted to EUR 6.735 million, representing a 23% increase compared to 2024. Meanwhile, Signet Bank Group’s combined income grew by 35% last year, reaching EUR 8.8 million.

The first quarter of 2026 also confirms the Group’s strong growth momentum. Signet Bank Group’s total operating income reached EUR 12 million, up 16% compared to the same period last year, while its loan portfolio reached EUR 356 million, up 51%. The Group’s profit for the first three months amounted to EUR 2 million, representing a 54% increase compared to the first three months of 2025.

The total amount of client assets under management and administration (AUMA) reached EUR 1.8 billion in the first months of this year, while client deposits increased to EUR 623 million, up 12% compared to the end of last year.

“Signet Bank Group is one of the fastest-growing financial groups in Latvia, and the capital increase marks an important step in our development. We see significant potential to increase financing for Latvian businesses and continue to strengthen our capacity to finance increasingly ambitious projects and provide clients with a broader range of financial solutions. Our goal is to grow together with businesses and serve as a long-term partner in helping ambitious companies bring their plans to life. Therefore, one of our objectives this year is to execute at least EUR 200 million in new lending transactions,” 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 companies. Since 2021, Signet Bank has arranged additional financing of more than EUR 1 billion for more than 50 Latvian companies through bond and share issues, while new lending transactions amounted to EUR 500 million. In 2025, assets under management and administration reached EUR 1.7 billion. Signet Bank is the leading arranger of corporate bond and equity issues in Latvia and one of the leading stock exchange brokers in the Baltics. Signet Bank's shareholders are 47 Latvian and international private investors, the largest of which are Signet Acquisition III (20,6%), whose sole shareholder is US investor Alexander Solovey, SIA Reglink (9,6%), founded by banking professional Irīna Pīgozne, and AS RIT Group (9,5%), a Latvian company owned by the Rapoport family.