Industra Bank has acquired a controlling interest—53% of the shares—in MC Finance, a Latvian company providing mortgage loans and car leasing services to individuals. The transaction reflects the bank’s ambition to further expand its loan portfolio and diversify its group-wide service offering.

Industra Bank has signed an agreement with SIA “LK Investment”, a company owned by Leonīds Kiļs, acquiring a 53% stake in AS “MC Finance”. The transaction has been approved by the Bank of Latvia.

This acquisition will give MC Finance access to additional funding, enabling it to grow its market share in personal lending more rapidly. For Industra Bank, this is a step towards the goal of doubling its loan portfolio within two years, while also expanding and diversifying its lending services within the group.

Raivis Kakānis, Chairman of the Management Board of Industra Bank, comments:
“We see strong potential in strategic acquisitions—particularly in companies that offer services the bank does not currently provide, but which significantly complement our group’s offering and are important for Latvia’s economy. This synergy-based approach, with close cooperation between the teams, enables faster and more targeted growth than building these services from scratch.

By working with MC Finance, Industra Bank will be able to address the insufficient availability of housing loans in Latvia’s regions, offering much-needed support to individuals.”

Leonīds Kiļs, owner of SIA “LK Investment”, which remains the second-largest shareholder of MC Finance, adds:
“I highly value the trust shown by Industra Bank as the new investor in MC Finance. I am confident that by combining the bank’s access to funding with MC Finance’s expertise, the company will be able to grow and develop much faster.”

About MC Finance
AS “MC Finance” is a licensed consumer lending provider regulated by the Consumer Rights Protection Centre (PTAC), offering mortgage loans and car leasing for private individuals. The company’s loan portfolio currently stands at nearly EUR 20 million, serving around 3,000 customers.
MC Finance operates in segments not typically served by banks—such as small-scale mortgage lending in Latvia’s regions and leasing of used vehicles—helping to improve housing affordability and quality of life across the country.

Following the transaction, Industra Bank holds 53% of the shares, SIA “LK Investment” retains 32%, and the remaining 15% is owned by the management team and other minority shareholders.
MC Finance will continue operating as usual. This transaction does not affect existing customers or services.

About Industra Bank
Industra Bank was established by local entrepreneurs and is focused on serving small and medium-sized businesses in Latvia. As of mid-2025, the bank’s loan portfolio exceeded EUR 120 million, while customer deposits neared EUR 300 million.
With 16,000 clients, the bank serves customers through branches in Rīga, Daugavpils, Liepāja, Ventspils, and Jelgava. It also offers fully remote onboarding and services for clients across Latvia.

Media contact:
Ieva Zauere
Head of Marketing and Communications
AS Industra Bank
+371 29485726
ieva.zauere(abols)industra.finance