Holm Bank Latvia Launches Loan Refinancing Service

Holm Bank Latvia, a subsidiary of the Estonian bank Holm Bank AS, has launched a loan refinancing service, enabling customers to combine several existing loans and hire-purchase agreements into one. The loan consolidation is intended for people who want to simplify their monthly budgeting and gain a clearer overview of their financial commitments.

“Many households manage more than one loan at a time. Different repayment dates, interest rates and lenders can make it challenging to keep track,” said Kaspar Kalvet, CEO of Holm Bank. “By consolidating these into a single agreement, customers can plan ahead more easily and manage their obligations with greater clarity.”

Making Financial Management More Predictable

“When we launched the refinancing loan in Estonia in 2023, it was a carefully considered step based on clear demand in the market,” says Kalvet. “Our experience since then has confirmed that customers value the ability to bring multiple commitments into a single, well-structured repayment plan. By choosing a repayment period that matches their circumstances, many have been able to lower their monthly instalments and plan their finances with greater certainty. We are pleased to now offer the same opportunity to our clients in Latvia, because refinancing is not simply replacing one set of obligations with another; it’s about reshaping financial commitments into a form that supports stability and long-term planning.”

Focus on Clarity and Transparency

“We review each application individually, taking into account the applicant’s financial situation and repayment history, and we verify information through the appropriate credit and financial databases,” says Kalvet. “At the same time, we emphasise that every person must be open and transparent about their financial obligations and future plans. Only the individual knows how secure their employment is, what investments they are considering and other personal circumstances. We need to be confident that the solution supports the customer’s ability to manage their finances over the long term.”

A Long-Term Perspective

“Our strength lies in combining the flexibility customers value with the rigorous standards and careful governance that come with being a bank in Estonia,” Kalvet concludes. “In Latvia, we apply the same principles, the same high standards, and the same attention to detail. Before we bring any product to market, we examine the needs of our customers, assess the risks, and ensure full alignment with local regulations. It is this consistency in how we operate and make decisions that enables us to grow while protecting the trust our customers place in us.”