Industra Bank has become the first locally owned Latvian bank to receive an assessment from the international credit rating agency Moody’s Ratings, joining a small group of banks in Latvia whose operations and financial resilience have been independently evaluated by a global rating agency.

On 9 February 2026, Moody’s announced that Industra Bank has been assigned a long-term deposit rating of Ba2 and a senior unsecured debt rating of Ba3, with a stable outlook. The rating reflects Moody’s view of the bank’s governance quality, risk management framework, as well as its capital and liquidity position.

A Moody’s rating serves as an internationally recognised mark of credibility for clients, partners and investors, as the rating process requires a high level of transparency, capital adequacy and maturity of internal processes.

Industra Bank’s focus on financing Latvian businesses and supporting the real economy, combined with disciplined risk management, underpins the bank’s stable growth and international recognition. Moody’s also positively assesses the work carried out by the bank’s management team over the past five years in transforming the bank and successfully implementing its new strategy, resulting in a stronger financial position.

At the same time, Moody’s highlights the relatively high regulatory burden faced by smaller banks, which poses challenges to operational efficiency. Further growth of the loan portfolio is expected to reduce income volatility while supporting improvements in operational efficiency.

Chairman of the Board of Directors of Industra Bank, Jurijs Adamovičs, commented:
“Moody’s rating is a recognition of the disciplined, responsible and consistent work of the entire Industra Bank team. It confirms the sustainability of our strategy and sends a strong signal of trust to our clients, partners and investors that Industra Bank is a stable and predictable financial partner.”

Chairman of the Management Board of Industra Bank, Raivis Kakānis, added:
“The rating assigned by Moody’s confirms our targeted growth over the past five years and demonstrates that our chosen business model meets high international standards. It is focused, responsible and built on a deep understanding of the real needs of businesses. Obtaining a credit rating will enable us to pursue our ambition to grow faster. This year, Industra Bank aims to provide EUR 100 million in new financing to support business development.”

It should be noted that Industra Bank is one of only two banks in Latvia that have received a Moody’s Ratings assessment specifically for their operations in Latvia. In addition, four international banks operating in Latvia have ratings assigned to their parent banks rather than to their local entities.

Moody’s Ratings announcement on the credit rating assigned to Industra Bank. 
Moody’s Ratings summary of Industra Bank’s credit rating (available to registered users; registration is free). 

About Industra Bank
Industra Bank is a locally owned bank established by Latvian entrepreneurs, with a clear focus on financing small and medium-sized enterprises and supporting the development of the Latvian economy.

In 2025, Industra Bank demonstrated strong growth, with its loan portfolio increasing by 62%, and total loans outstanding exceeding EUR 170 million by year-end. Customer deposits approached EUR 300 million at the end of 2025.

Industra Bank serves nearly 20,000 clients, providing services both in person — at customer service centres in Riga, Daugavpils, Liepāja, Ventspils and Jelgava — and remotely, regardless of the client’s location. More information: https://industra.finance/

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