Industra attracts investors, strengthens capital for further growth
This is the first step in the bank's capital strengthening plan, which will allow to implement the Industra’s strategy, focusing on lending to small and medium-sized Latvian enterprises.
The contributions to the capital of Industra have been made by the two investors - SIA “J.A. Investment Holdings”, the owner of which is Jurijs Adamovičs, who has provided 64 percent of the seven million euro investment, and SIA “HPI 2”, the owners of which are Ralfs Klavinš and Andis Kļaviņš, who have paid, respectively, 36 percent of the investment.
“The strong capital base will serve as the basis for implementing our business model. In the first half of this year, we intend to continue strengthening the bank's capital. Industra's ambition is to become, in the medium term, a bank of “the first choice” for small and medium-sized Latvian enterprises,” says Jurijs Adamovičs, a shareholder and the chairman of the supervisory board of Industra.
"We decided to invest in Industra because we see “a local capital bank for local business” niche in the market and see that the bank's management and other shareholders are ready to work hard, focusing on making Industra a leading player in the niche," says Andis Kļaviņš, a board member of SIA “HPI 2”.
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The joint stock company Industra Bank is a Latvian credit institution that was founded in 1994 and has 13 customer service centres in Latvia and a branch in Lithuania. The bank has more than 30 thousand customers and by this indicator Industra is the sixth largest bank in Latvia.
In January 2020, the name of the credit institution Meridian Trade Bank was changed to Industra Bank to reflect the change in the bank's business strategy.