Luminor announced today its financial results for 2Q 2026, reporting loan growth of 376 million EUR during the quarter, continued growth in deposits, and further progress with its strategy, customer experience and digital transformation. Loans to customers increased by 3.3% and reached 11.9 billion EUR. 

Demand for financing remained strong across customer segments. In the first half of 2026, compared with the same period of 2025, mortgage sales increased by 10%, consumer lending volumes doubled, micro lending volumes grew 2.5 times, and household deposits increased by 12%. 

Retail Banking grew lending and deposits while continuing to develop its product offering and enhance customer experience. During the quarter, Luminor launched Bloom, our new digital card and the first product to be hosted on its new cloud-based banking platform. In Corporate Banking, lending continued to grow as overall business activity remained healthy. 

“The continued growth in lending is an encouraging sign for the society, demonstrating that financing is increasingly finding its way into the economy. Lending growth in Latvia remained strong in the second quarter, with Luminor’s total loan portfolio reaching nearly EUR 3.06 billion, almost 8% higher than in the same period last year. Financing for companies grew, with investment financing granted in the first half of the year up 10% compared to last year. Households are also showing greater confidence in making long-term financial decisions – the volume of new housing loans issued in Latvia increased by 13% in the first half of the year compared to last year, with June marking the most active month so far. During the first half of the year, we provided housing financing to more than 1,600 households. At the same time, household deposits increased by 10% in the second quarter. 

Favorable lending conditions mean that not only private individuals but also businesses are choosing financing as a tool for growth, modernization, and the implementation of new projects,” says Kaspars Lukačovs, Head of Business Development at Luminor Bank. 

Profit for the period was 37.4 million EUR compared with 46.2 million EUR in the second quarter of 2025, primarily reflecting higher migration costs as the bank continued to advance its digitalisation plans. Total operating income increased by 4.7 million EUR, mainly due to growth in net interest income and net fee income as customer balances and activity increased. Total operating expenses increased by 2.8 million EUR, including 13.0 million EUR of additional migration-related costs. Excluding these necessary costs, total operating expenses would have decreased by 10.2 million EUR. Luminor also advanced its digitalisation plans and further enhanced its consolidated risk-based approach to preventing financial crime. 

Lending to individuals increased by 174.4 million EUR during the quarter, mainly driven by mortgage lending. Lending to companies increased by 201.9 million EUR across most sectors. Overall asset quality remained sound, reflecting the bank’s prudent underwriting standards and effective risk management practices. 

“We made clear progress with our strategy, growing loans and deposits, and improving our customer experience once again. And, we reached a milestone in our IT transformation, with the launch of Bloom, the first product to be hosted on our new cloud-based banking platform,” said Wojciech Sass, Luminor Bank Chief Executive. 

The bank maintained strong liquidity and capital positions.

Luminor’s Interim Report 2Q 2026 can be found here.