AS INDEXO Bank has received authorization from the Bank of Latvia to provide depository bank services and hold financial instruments. This will enable the bank to offer depository services to pension management companies, such as IPAS INDEXO and other pension managers. Financial instruments will be held completely separate from other bank assets.
Before launching the service, INDEXO Bank must still meet certain conditions set by the Bank of Latvia regarding capital, information disclosure, and the implementation of internal regulatory documents.
“This is an important step for the INDEXO group, as the depository bank service will allow us to hold the assets of INDEXO pension funds ourselves—more than 1.4 billion euros—which until now were held at another bank in Latvia. This has significant cost implications, as the service costs will now remain within our own group and strengthen INDEXO’s profitability. We will also be able to offer this service to other pension managers on favorable terms,” says Valdis Siksnis, Chairman of the Management Board of INDEXO Bank and one of its founders.
All interested parties are invited to join a free online webinar “INDEXO Results and future plans” on August 7 at 18:00 (EEST) in English (16:30 (EEST) in Latvian), where the INDEXO team will present the company’s first-half year performance results and its future development plans. To join the webinar, please register here: https://indexo.lv/vebinars-202508/
