Industra Bank continued its stable growth in 2023, posting a consolidated gross profit of 5.2 million euros, marking a 22% increase compared to 2022, according to its audited results. Throughout 2023, we continued to expand and develop technologically advanced services and solutions to our clients.

The consolidated core income of Industra Bank reached 15.4 million euros last year, representing a 21.9% growth compared to 2022. A significant contribution to the bank's results came from the steady increase in issued loans – the total loan portfolio expanded by 17%, reaching 81 million euros by the end of the year.

Jurijs Adamovičs, Chairman of the Supervisory Council of Industra Bank, stated: "In 2023, Industra Bank achieved a consolidated gross profit of 5.2 million euros, marking our most successful year to date in terms of performance. I would like to express my gratitude to the bank's management team and every employee for their dedication in achieving these excellent results."

Raivis Kakānis, Chairman of the Management Board of Industra Bank, emphasized: "Thoughtfully utilizing capital and maintaining our focus on growth, we have delivered outstanding returns on equity (ROE) - for the second consecutive year, our ROE at group level reached a high of 23%. This year, we took significant steps to remove geographical barriers and expand our accessibility – now, becoming an Industra Bank client is possible remotely. We will continue to invest in services this year as well – currently, we are working on implementing instant payments, further development of internet banking and mobile banking, and increased process automation. However, our greatest strength lies in our deep understanding of our clients' businesses and needs, and we remain dedicated to serving as a trusted and engaged partner to small and medium-sized enterprises across various sectors of the Latvian economy."

At the beginning of the year, we introduced the mobile application vPOS to our clients – a POS terminal on a smartphone. Last year, we launched a mobile bank, available to both Android and iOS users. We also made a series of improvements to our internet banking platform in response to our clients' feedback.

We continued to develop the commercial activity income account introduced at the end of 2022, which is an automated tax payment solution for self-employed individuals (micro-enterprise tax payers), reducing their administrative burden. Now, it is possible to link a POS terminal to this account, making the work of small entrepreneurs even more efficient.