Details about debt collection stages can be found here.  

Market highlights 

Latvia 

The following Latvia-based projects were successfully closed in December through refinancing: 12482446; 12509926; 12546484; 231006-401982; 231011-963496; 12599809; 12454580; 12424677. 

The court has scheduled a hearing on the recovery action against the co-borrower for February, for project 230119-339009. 

After the debtor’s legal protection process ended, the recovery department actively initiated the sale of collateral and has already achieved a partial recovery for project 230330-797264. 

Lithuania 

December marked an important milestone in the LT market with the signing of the first client agreement supported by ILTE co-financing and the EIF fund. This achievement clearly reflects the strong results of the team’s dedicated and consistent efforts, as well as our ability to deliver real value to both clients and investors. 

At the same time, significant progress was made in risk management. Substantial amounts were successfully recovered from defaulted clients and returned to investors, enabling many clients to receive subsidies. Looking ahead, we confidently anticipate the successful resolution of another default case in the near future. 

As we move into 2026, our focus remains on sustainable growth in the LT market. We aim to expand our client base while maintaining high quality standards, build new strategic partnerships, and continue investing in the growth of a strong and professional team. We are growing responsibly, strategically, and with a clear vision for the future. 

Romania 

In December, activity in the Romanian market was impacted by the holiday period, but the month still brought notable operational, portfolio and team developments: 

December was a short month, as most institutions and clients in Romania entered the holiday break between 24 December and 8 January. As a result, several refinancing requests were postponed to early 2026. Cash flow constraints remained visible among grain clients, mainly due to delayed subsidy payments and the general slowdown in agricultural transactions during the final weeks of the year. 

Because of the reduced number of working days, fewer new projects could be finalized. However, ongoing discussions continued with clients who plan refinancing or working capital needs for Q1 2026. These transactions are expected to move forward in January once normal business activity resumes across the sector. 

Despite the short operational window, December was productive in terms of recoveries. We managed to secure multiple recoveries and restructurings, allowing us to ensure timely payments to investors. Clients facing temporary financial challenges were offered tailored solutions to help stabilize their operations and preserve their repayment capacity. 

Work continued on implementing process and workflow optimizations aimed at shortening loan analysis and approval times. These enhancements will be fully reflected in Q1 2026, improving decision-making speed and coordination between sales, legal, and risk teams. 

In December we welcomed Geta, who joined as Head of Risk. She brings over 8 years of experience in credit analysis, loan approval and risk assessment within the micro‑financing sector for agricultural clients. Her background includes evaluating agricultural business models, assessing collateral structures, analysing seasonal cash flows, and guiding credit decisions for small and medium-sized farmers. Her expertise in agricultural micro-lending and risk evaluation will significantly solidify LANDE Romania’s risk governance as we enter 2026. 

 As we move into 2026, our focus in Romania remains on: 

Poland