KPMG Latvia is providing support to Signet Bank in the acquisition of AgroCredit Latvia, the leading non-bank lender
We are proud of the successful conclusion of another transaction – on 3 December 2024, Latvia’s leading investment bank, Signet Bank, acquired a 51% stake in AgroCredit Latvia, the leading non-bank lender. This acquisition will expand funding access for local agricultural businesses and diversify the bank’s financing product portfolio. KPMG in Latvia, representing the buyer Signet Bank, carried out a valuation of AgroCredit Latvia’s shares, ensuring that the transaction price aligned with market conditions and the company’s financial performance.
The agricultural sector is crucial to the Latvian economy, and access to appropriate financing instruments is a key factor in determining a business’s ability to grow and compete in the market. As a leader in local capital banks, Signet Bank has initiated this strategic partnership with AgroCredit to offer a broader range of lending products to local agricultural businesses.
AgroCredit Latvia specializes in financing the agricultural sector, and its collaboration with Signet Bank will provide additional capital availability, allowing an even wider group of farmers to access funding for their growth and development.
Roberts Idelsons, Chairman of the Board of Signet Bank, commented: “As a local capital bank, Signet Bank’s goal is to offer diverse and sustainable financing opportunities for Latvian businesses that play a key role in the overall development of the national economy. By continuing to implement our growth strategy, focused on increasing the local credit portfolio, this transaction will ensure wider access to funding for Latvian farmers through collaboration with a trusted and experienced partner in the industry, AgroCredit.”
“We are pleased with this transaction and proud to have been able to support Signet Bank and AgroCredit Latvia during this growth phase,” emphasized Artūrs Petrovs, Partner at KPMG Latvia. “We believe this partnership will create new opportunities and allow both Signet Bank and AgroCredit to continue growing and expanding their positions in the Latvian market. It is an excellent opportunity to strengthen our economy by providing local agricultural businesses with better access to financing, which is essential for future growth and sustainability.”
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