Bonds Remain the Main Driver of Baltic Market Growth

13.07.2026 VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, July 13, 2026 – Nasdaq (NDAQ) announces that the Baltic capital market continued to be driven by the bond market in the first half of 2026. The total capitalization of the Baltic bond market, including corporate bonds, government bonds, and the First North foreign securities list, increased by nearly 17% over six months – from EUR 33.0 billion at the end of 2025 to EUR 38.6 billion at the end of June 2026.

The capitalization of Lithuanian corporate bonds and Lithuanian Government bonds grew by more than EUR 1.5 billion during the first half of 2026, rising from EUR 11.5 billion to EUR 13.0 billion. Even stronger growth was recorded in the foreign securities list, whose value increased by more than EUR 4 billion over the same period – from EUR 21.5 billion to EUR 25.6 billion.

“This half-year, we are seeing a growing number of companies choosing the capital market not as a one-time source of financing, but as a consistent part of their growth strategy. Capital raised through bond issues is being directed toward specific development projects, including the construction of business centers and residential developments, renewable energy projects in Lithuania and other European Union countries, business services expansion, and scaling operations. The capital market provides companies with access to long-term financing for investment, while steady investor activity helps ensure that promising projects can be implemented in a sustainable manner. In turn, this also strengthens the Baltic capital market,” says Gediminas Varnas, President of Nasdaq Vilnius.

Investor activity was also reflected in positive stock market performance. During the first half of 2026, the OMX Baltic Benchmark Index increased by 3.39%, while the OMX Vilnius Index gained 9.18%. Among companies listed on the Vilnius Stock Exchange, AB Vilkyškių pieninė (VILVI) recorded the strongest share price growth, with its stock rising by 33.62% as investors responded positively to the company’s growth prospects. Across all Baltic exchanges, the highest share price increase was recorded by Latvian technology company SAF Tehnika, whose shares gained 60.4% during the half-year, primarily driven by a significant improvement in operating results.

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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com