{"id":7669,"date":"2020-02-28T15:55:22","date_gmt":"2020-02-28T13:55:22","guid":{"rendered":"https:\/\/www.altum.lv\/jsc-development-finance-institution-altum-unaudited-interim-condensed-report-for-the-twelve-month-period-ended-31-december-2019\/"},"modified":"2022-05-19T10:01:57","modified_gmt":"2022-05-19T08:01:57","slug":"jsc-development-finance-institution-altum-unaudited-interim-condensed-report-for-the-twelve-month-period-ended-31-december-2019","status":"publish","type":"post","link":"https:\/\/www.altum.lv\/en\/jsc-development-finance-institution-altum-unaudited-interim-condensed-report-for-the-twelve-month-period-ended-31-december-2019\/","title":{"rendered":"JSC Development Finance Institution Altum unaudited interim condensed report for the twelve-month period ended 31 December 2019"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7669\" class=\"elementor elementor-7669 elementor-4136\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section altum__default elementor-element elementor-element-93c6150 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"93c6150\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-562ee88\" data-id=\"562ee88\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-301ffde elementor-widget elementor-widget-text-editor\" data-id=\"301ffde\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"news-opening__main\"><p>JSC Development Finance Institution Altum Group\u2019s (hereinafter \u2013 Altum Group) outstanding financial instruments portfolio (gross) is of 592 million euros as at 31 December 2019, comprised by 22,022 contracts, including:<\/p><p>\u00a0<\/p><ul><li>guarantees portfolio of 284 million euros, the total number of contracts 15,615;<\/li><li>loan portfolio of 240 million euros, the total number of contracts 6,166;<\/li><li>investments in venture capital funds for the total amount of 67 million euros, the total number of projects financed by funds \u2013 241.<\/li><\/ul><p>\u00a0<\/p><p>Since the beginning of the year, Altum Group\u2019s financial instruments portfolio has grown by 15.2% (78 million euros) in terms of volume and by 20.5% (3,742 projects) in terms of the number of projects. Among financial instruments, the fastest growth is seen in the guarantee portfolio, which has grown by 20% (47 million euros) in terms of volume and by 31% in terms of the number of projects.<\/p><p><br \/><br \/>In 12 months of 2019 Altum Group has operated at 8.1 million euros profit.<\/p><p>\u00a0<\/p><h3>Reinis B\u0113zri\u0146\u0161, CEO of Altum:<\/h3><p>\u00a0<\/p><p>\u201cIn 2019, the volume of Altum\u2019s financial instrument portfolio increased in all segments, reaching the largest new transaction volume in the SME and Midcap segment where in recent years the range of financial instruments was improved significantly, inter alia, focusing on the funding of companies in regions. In this context, both the energy efficiency programme for companies financed by funds raised by green bonds and micro-loan programme for rural areas, which is a growing and perspective segment, should be highlighted.\u00a0 In 2019, the average volume of new loans issued grew by 16% due to both the increased transaction amounts in the SME growth loan programme and the centralised procedure of reviewing applications for micro loans that was introduced in the previous year, thus increasing the capacity of regional centres for dealing with large projects. Targeted improvement of the product range and ongoing promotion of efficiency has resulted in increasing the financial instrument portfolio from EUR 350 million to almost EUR 600 million over five years as well as helped to achieve good financial result for the reporting period.\u201d<\/p><\/div><div class=\"news-opening__main\">\u00a0<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>JSC Development Finance Institution Altum Group\u2019s (hereinafter \u2013 Altum Group) outstanding financial instruments portfolio (gross) is of 592 million euros as at 31 December 2019, comprised by 22,022 contracts, including: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4138,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-7669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - 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